Okay, to be clear from the start the “fund” mentioned in the headline isn’t just for cleantech ventures but also companies in the life sciences and digital media. That said, the “Emerging Technologies Fund” announced today by John Wilkinson, Ontario’s minister of research and innovation, could prove effective if administered properly.
The Ontario government has created the $250-million, five-year fund to help ventures based in the province navigate through the dreaded “Valley of Death” that far too often sucks the life out of companies poised for great things but incapable financially of delivering. It’s essentially a co-investment fund, based on a model out of Scotland, whereby the government will match, dollar for dollar, any funding of Ontario-based companies that comes from qualified venture capitalists and angel investors. Nifty. Continue reading Government program to “unlock” half billion in venture cap for Ontario firms