Canada's Economic Action Plan



Canada

January 10, 2013 10:00 ET

Government of Canada Investment Connects Toronto Area Investors With Southern Ontario Start-Up Businesses

TORONTO, ONTARIO--(Marketwire - Jan. 10, 2013) - Maple Leaf Angels Corp. will be able to connect more angel investors with promising new start-up businesses in southern Ontario, thanks to a $100,000 investment from the Government of Canada, announced today by the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).

"This investment will allow Maple Leaf Angels Corporation to expand its membership and increase the amount of angel financing that is available for entrepreneurs in southern Ontario," said Minister of State Goodyear. "Through investments such as this one, we are helping to drive innovation throughout the region, and working to ensure our start-up businesses have the tools they need to create jobs for our people, and bring growth and long-term prosperity to our region."

Maple Leaf Angels Corporation is an incorporated, not-for-profit angel network located in Toronto. The group aims to develop a base of 100 or more active angel investors to respond to the funding needs of early-stage, entrepreneurial companies in the GTA and throughout southern Ontario that are working to commercialize innovative technologies.

The investment through FedDev Ontario's Investing in Business Innovation initiative will help Maple Leaf Angels Corporation expand its membership base and increase its pool of angel investors through outreach activities such as an interactive website, best practices training materials, recruiting and training seminars and promotional tools. The association will also create enhanced reporting and monitoring systems.

"The members of Maple Leaf Angels are some of the most experienced and engaged individuals supporting and growing Ontario's innovation economy," said Jarrod Ladouceur, executive director of Maple Leaf Angels. "The support received from FedDev Ontario will help us build our community, increase the resources available to start-ups and allow the members of Maple Leaf Angels to more efficiently invest their capital and expertise into Canadian companies."

Investing in Business Innovation is designed to boost private sector investment in start-up businesses to accelerate the development of new products, processes and practices and help bring them to market. Funding under the initiative is also available for angel investor networks and their associations to attract new investment and support the growth of angel investment funds. Applications for funding are being accepted and assessed on an ongoing basis. For more information, please refer to the program guidelines available on the FedDev Ontario website.

Created in 2009, FedDev Ontario supports the southern Ontario economy by building on the region's strengths and creating opportunities for jobs and economic growth. The Agency has launched a number of initiatives to create a Southern Ontario Advantage and place the region in a strong position to compete in the global economy. These initiatives are designed to encourage partnerships and support projects that help the region's businesses and communities become more competitive, innovative and diversified. To learn more, please visit www.FedDevOntario.gc.ca or call 1-866-593-5505.

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IF THERE IS A DISCREPANCY BETWEEN ANY PRINTED VERSION AND THE ELECTRONIC VERSION OF THIS NEWS RELEASE, THE ELECTRONIC VERSION WILL PREVAIL.

This news release is available online at: www.actionplan.gc.ca.

Contact Information

  • Michele-Jamali Paquette
    Director of Communications
    Office of the Honourable Gary Goodyear
    613-947-2956

    Media Relations
    FedDev Ontario
    416-954-6652