$443,700 in FedNor funds for business incubators and accelerators in Parry Sound-Muskoka
HUNTSVILLE — Community Futures and the Town of Huntsville will share in $443,700 in FedNor grants to “help create both business incubator and business accelerator for Parry Sound-Muskoka.”
MP Tony Clement made the announcement Friday, on behalf of Greg Rickford, Minister of State for Science and Technology.
Clement said the investment by the federal government is to help create jobs, growth and prosperity for the Parry Sound–Muskoka region.
“The Harper government is proud to invest in initiatives that promote sustainable economic growth in Parry Sound–Muskoka,” said Clement.
“By supporting the development of business accelerators and incubators, our government is helping to spur innovation and providing entrepreneurs with the tools they need to develop their ideas and grow their operations, leading to a stronger more diversified economy.”
Of the total, the Muskoka Community Futures Development Corporation will receive $333,730 to establish a business incubator that will provide mentoring, coaching and training programs, business readiness assessments, as well as workshops to assist entrepreneurs commercialize their products and ideas.
And $110,000 will enable Muskoka Community Network to complete a feasibility study and develop a business plan to create a technology accelerator and data centre in the Town of Huntsville.
A news release says the FedNor funds complement the Government of Canada’s Venture Capital Action Plan, a $400-million strategy launched in January to help increase private sector venture capital investments across Canada. Economic Action Plan 2013 provided $60 million over five years to help outstanding and high-potential incubator and accelerator organizations expand their services to worthy entrepreneurs.
“On behalf of the citizens of Huntsville and the entire Parry Sound–Muskoka region, I welcome this FedNor investment to develop, enhance and diversify the regional economy,” said Mayor Claude Doughty, Mayor of Huntsville. “Today’s announcement will provide entrepreneurs throughout the area with the resources they need to grow, innovate, bring ideas to the marketplace and create jobs.”
The funding is provided through FedNor’s Northern Ontario Development Program, which supports projects that promote sustainable community economic development, enhance business development and growth, and facilitate innovation throughout the region.
“Our government remains focused on providing the right environment for economic growth, through effective cooperation across all sectors, to keep Canadians working and to ensure the long-term prosperity of all our communities,” concluded Rickford in the release.
To find out more about federal government programs and services, go to: fednor.gc.ca and follow us on Twitter @FedNor.
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