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PM Helps Canadian Start-up Companies to Grow and Prosper
Source: pm.gc.ca
Source Date: Sunday, July 20, 2014
Focus: ICT for MDGs, Citizen Engagement
Country: Canada
Created: Jul 01, 2014

Prime Minister Stephen Harper today announced the organizations that have been chosen to advance in the selection process for the Canada Accelerator and Incubator Program (CAIP), which is designed to help outstanding small- and medium-sized Canadian enterprises to grow, prosper and create jobs. He made the announcement at Communitech, a hub for the commercialization of innovative technologies in Waterloo, Ontario. The Prime Minister was joined by Ed Holder, Minister of State (Science and Technology), Peter Braid, Parliamentary Secretary for Infrastructure and Communities and Member of Parliament for Kitchener-Waterloo, and Stephen Woodworth, Member of Parliament for Kitchener Centre.

Business accelerators and incubators provide innovative, early-stage entrepreneurs with resources, facilities and expertise to help them develop their business plans and seek follow-on financing. They play an important role in the venture capital system, helping innovators gain strategic advantage in a competitive international marketplace.

In 2013, the Government of Canada established CAIP to help accelerators and incubators deliver their services to promising Canadian firms. CAIP is delivered on behalf of the Government by the National Research Council’s Industrial Research Assistance Program (NRC-IRAP), which evaluated all proposals based on strict eligibility and selection criteria. Eligible proposals were then presented to the independent Canadian Venture Capital Expert Panel for their review and recommendations. NRC-IRAP is conducting a thorough due diligence process to establish contribution agreements with the selected organizations.
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