Glover announces $1-million investment in Manitoba technology
Government of Canada
The Honourable Shelly Glover, Minister of Canadian Heritage and Official Languages and Minister Responsible for Manitoba, on behalf of the Honourable Ed Holder, Minister of State (Science and Technology), today announced the Government of Canada’s investment in the Manitoba Technology Accelerator (MTA), which will support Manitoba’s innovative businesses, enabling them to grow, prosper and create jobs.
Through the Canada Accelerator and Incubator Program (CAIP), MTA will receive up to $1.06 million in funding over the next five years, providing local entrepreneurs with the resources and expertise needed to develop their business plans, seek follow-on financing and new international markets for products and services. This organization plays an important role in the venture capital system, serving as an invaluable resource for entrepreneurs to make headway in a competitive global marketplace.
• On June 20, 2014, Prime Minister Stephen Harper announced 15 incubators and accelerators chosen to advance in the selection process for CAIP, which is designed to help outstanding small and medium-sized Canadian enterprises to grow, prosper and create jobs.
• Delivered by the National Research Council of Canada’s Industrial Research Assistance Program (NRC-IRAP), CAIP provides support in the form of non-repayable contributions to a small and select number of best-in-class accelerators and incubators. Recipients will be required to demonstrate matching contributions on at least a 1:1 basis during the period of the contribution funding.
• The MTA is a not-for-profit business accelerator located in Winnipeg. MTA provides commercialization support to help promising technology start-ups advance from “good idea” to “commercial success”.
• MTA adds value to its clients in three categories: (1) Facilities and Infrastructure; (2) Mentoring and Management; and (3) Finance and Investment Opportunities.
“Our Government’s investment in the Manitoba Technology Accelerator will help ensure that Manitoba’s brilliant young entrepreneurs and innovative businesses are able to access the resources they need to grow, innovate and create jobs without having to leave our community. This is just one example of how our Government is strengthening the business innovation capacity in communities across Canada.”
— Shelly Glover, Minister of Canadian Heritage and Official Languages and Minister Responsible for Manitoba
• • • • •
“The financial support provided by the Government of Canada through the Canada Accelerator and Incubator Program will allow us to continue to engage with local companies, providing them with the resources and expertise they need to accelerate their growth.”
— Marshall Ring, chief executive officer, Manitoba Technology Accelerator