Peter Fragiskatos, Member of Parliament for London North Centre, attended a showcase by TechAlliance of Southwestern Ontario to celebrate the dedicated entrepreneurs who have received support through BURST, an incubation program for early-stage, high-potential medical technology companies.
During the event, MP Fragiskatos announced that FedDev Ontario is providing TechAlliance with an additional $440,000 to continue BURST and enable another cohort of 10 innovative start-ups to receive seed funding, skills development opportunities and mentorship. This announcement was made on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario.
This announcement builds on a previous FedDev Ontario contribution of $1.32 million to launch BURST, which has supported 30 companies over three cohorts and attracted over $5 million in investments to advance these companies’ technologies. As entrepreneurs establish and grow their businesses with help from BURST, a total of 54 full-time jobs will be created.