Government of Canada invests in development of innovative start-ups with support for Quebec’s incubators and accelerators
November 12, 2024
The Government of Canada is investing $20 million in the development of innovative start-ups in Quebec through a new initiative to support incubators and accelerators.
The funding, which is part of the government’s Innovation and Skills Plan, will be used to help these organizations expand their capacity and provide more services to start-ups.
“Our government is committed to supporting the growth of innovative businesses in Canada,” said the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development. “This investment in incubators and accelerators will help to create a more supportive environment for start-ups to succeed.”
The investment will be made through the National Research Council of Canada’s Industrial Research Assistance Program (IRAP). IRAP provides funding and support to small and medium-sized businesses to help them develop and commercialize new technologies.
“IRAP has a long history of supporting innovative businesses in Quebec,” said Dr. Michael Raymont, President of NRC. “This new investment will allow us to expand our support to incubators and accelerators, which play a vital role in helping start-ups succeed.”
The investment will be used to support a variety of activities, including:
- Expanding the capacity of incubators and accelerators to provide more services to start-ups
- Developing new programs and services to support start-ups in key areas, such as artificial intelligence and clean technology
- Providing mentorship and networking opportunities for start-ups
“This investment is a major boost for the start-up ecosystem in Quebec,” said Pierre Fitzgibbon, Quebec’s Minister of Economy and Innovation. “It will help to create a more supportive environment for start-ups to succeed and grow.”
The investment is part of the government’s broader Innovation and Skills Plan, which is designed to help Canada become a global leader in innovation. The plan includes a number of measures to support the growth of start-ups, including:
- Providing $950 million in funding for the Venture Capital Catalyst Initiative
- Creating a new $150 million fund to support scale-up companies
- Launching a new program to help start-ups access global markets
“The Government of Canada is committed to supporting the growth of innovative businesses in Canada,” said Bains. “This investment in incubators and accelerators is a key part of our plan to help Canada become a global leader in innovation.”
The AI has provided us with the news.
I’ve asked Google Gemini the following question, and here’s its response.
Canada All National News a new article on 2024-11-12 15:14 titled “Government of Canada invests in development of innovative start-ups with support for Quebec’s incubators and accelerators”. Please write a detailed article on this news item, including any relevant information. Answers should be in English.
170