Susan Truppe, Member of Parliament for London North Centre, recently announced the Federal Government of Canada has invested funds in the Southwestern Ontario Angel Group. This in turn will help the organization connect more angel investors with promising new businesses in the region. The decision was made due to the Federal Government of Canada recognizing that innovation is essential to creating jobs, growth and long-term prosperity for Southern Ontario.
Who Are The Angel One Investor Network?
The Southern Ontario Angel Group is an incorporated, not-for-profit angel network located in London, Ontario. The group’s initiative is to develop a strong foundation of active angel investors to respond to the funding needs of early-stage, entrepreneurial companies in the commercialization technologies.
Under FedDev Ontario’s Investing in Business Innovation (IBI) Initiative , the Angel One Investor Network will receive up to $50,000 to expand its membership base and increase its pool of angel investors through outreach activities. The group is looking to increase its investor group from 35 to 50 members that will result in an additional $1 million in available angel funding. Individually and in groups Angel investors fund at least $1.9 billion a year in Canada, complementing the $871 million invested by venture capital in early-stage companies.
Additional Government Funding Support
Businesses interested in learning about government funding options available to you, please contact one of our Canadian Government Funding Experts. Additionally, you could sign up for a 60 Minute Government Funding Workshop or follow us on Twitter and Facebook.