The Government of Canada’s Economic Action Plan 2013 proposes to provide $60 million over five years to help outstanding and high-potential incubator and accelerator organizations in Canada expand their services to entrepreneurs, and to make available a further $100 million through the Business Development Bank of Canada to invest in firms graduating from business accelerators.
Business incubators and accelerators are organizations that provide entrepreneurs with the resources, facilities and expertise needed to develop their business plan and seek follow-on financing. Incubators and accelerators play an important role in the venture capital system, serving as invaluable ―classrooms for entrepreneurs, providing them with hands-on advice and mentoring from successful innovators, and helping them gain strategic advantage in a competitive international marketplace.
In order to better support Canadian business accelerators and incubators, Economic Action Plan 2013 proposes to:
· Provide $60 million over five years to help outstanding and high-potential incubator and accelerator organizations in Canada expand their services to entrepreneurs.
· Make available $100 million through the Business Development Bank of Canada for strategic partnerships with business accelerators and co-investments in graduate firms.
Additional details on these new initiatives will be made available in the coming months.
Ernest Daddey – Executive Director
Innovation Central Society
"ICS is the regional organization with resources and professional expertise to develop innovative ideas into successful business ventures. Using targeted programs and services, ICS helps entrepreneurs to drive the innovation to commercialization cycle in a structured manner by adding value at each stage."