Ontario launches $200M technology fund
TORONTO, ONTARIO - Ontario will set up a fund of at least $200 million to help companies with new technologies who are having trouble finding investors.
A government source says the $200 million will help drive private investment into emerging Ontario technology companies and other high-tech businesses.
The fund was set up because of serious challenges that new technology companies face in raising venture capital due to tight credit markets.
The source says without access to capital, these companies cannot grow and create jobs in Ontario.
The announcement will be targeted to companies working in clean technology, life sciences, and digital media and communications technology.
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The system start-up is the culmination of more than a decade of research, development and testing, managing the technical challenges associated with operating in highly energetic environments and proving the ultra-low environmental impact of the tidal technology.
Sustainable Marine is striving to deliver the world’s first floating tidal array at FORCE (Fundy…
