The Government of Canada is ensuring the right measures are in place to provide Canadian entrepreneurs with the resources and opportunities they need to succeed.
Last Friday Bardish Chagger Member of Parliament for Waterloo announced additional FedDev Ontario funding of up to $5.5 million to create more jobs, companies and innovative products through the Accelerator Centre.
The additional FedDev Ontario investment in AC JumpStart means this much-sought-after program will be extended by more than two years and be able to offer seed funding, mentoring and coaching to another 126 start-ups. Working with established partners University of Waterloo, Conestoga College, Wilfrid Laurier University and new partner University of Guelph, AC JumpStart will extend its reach into the technology hardware, advanced manufacturing, clean technology, sustainable energy, agri-tech and agri-food sectors.
The announcement builds on a previous FedDev Ontario contribution of $8 million to support AC JumpStart. So far, over 190 start-ups have received support to commercialize 230 new products, resulting in over $3.3 million in initial sales. In total, the overall project is expected to support over 300 companies and create up to 1,100 highly skilled jobs across the region.
AC JumpStart is an incubation and mentorship program for high-potential technology entrepreneurs. Applications to Cohort 9 of the program are open until January 7, 2019.