Two companies to receive $1 million for commercialization under new program that supports innovation

TORONTO - Two exciting Ontario technology start-up companies will be announced as the first recipients of the Investment Accelerator Fund (IAF) by John Wilkinson, Minister of Research and Innovation and Mark Romoff, President and CEO of the Ontario Centres of Excellence (OCE).

The IAF is a $27 million early-stage seed fund delivered by OCE to help Ontario technology companies make their products and services commercially viable. Through its early-stage investment, the IAF helps launch high potential ventures that are attractive to follow-on investors.

The IAF is a key component of the Ontario Market Readiness Program, which is managed in partnership by OCE and MaRS. Together, they provide a platform of resources that entrepreneurs and innovators can access to help their businesses achieve commercial success.

What: Discovery 2008, Canada's premier innovation and commercialization event

Who: Hon. John Wilkinson, Minister of Research and Innovation Mark Romoff, President and CEO Ontario Centres of Excellence

Date: Tuesday, May 13

Location: Metro Toronto Convention Centre, South Building, 800 level,
222 Bremner Blvd

Time: Minister's Keynote Address: 12:45 p.m. Hall F