For Immediate Release
July 31, 2009

Ontario Enhances Support For Innovative Companies

McGuinty Government Launches Emerging Technologies Fund

NEWS

Ontario’s Emerging Technologies Fund is open for business.

The $250-million fund will co-invest – along with qualified venture capital funds and other private investors – directly into companies in high-growth sectors that are aligned with Ontario’s Innovation Agenda:

• Clean technology
• Life sciences and advanced health technology
• Digital media and information and communications technology.

The fund is designed to help innovative technology companies find the capital they need to grow in Ontario. It was announced by the province in March in response to the current economic conditions and the reduction in investment capital available to emerging and high-growth companies.

Guidelines for investment are now available online at: www.ontario.ca/ocgc.

QUOTES

“The Emerging Technologies Fund is one more step the McGuinty government is taking to help ensure that innovative people and companies have access to the capital they need to continue growing their business and creating jobs in Ontario.”
- Minister of Research and Innovation, John Milloy

QUICK FACTS

• Ontario’s Emerging Technologies Fund will address a lack of venture capital activity by co-investing with qualified investors directly into high-growth technology companies.
• Eligible companies must have a significant corporate footprint in Ontario.
• This initiative complements the $205-million Ontario Venture Capital Fund, a partnership between Ontario and leading corporate and institutional investors that is investing in venture capital and growth equity funds that support innovative, high-growth companies.

LEARN MORE

The Ontario Emerging Technologies Fund

Ontario’s Innovation Agenda.