The Northern Ontario Angels (NOA), a non-profit organization dedicated to connecting startups and accredited angel investors, has announced that it will be receiving $1.26 million in funding from the federal government.
Over the next three years, NOA hopes to support the development and expansion of Northern Ontario businesses using the investment. NOA has helped 200 companies collect $77 million from 350 investors, according to TBNewsWatch.
“I would like to thank the government of Canada for this strong show of support for the work we do and the results we deliver for the people, businesses and communities of Northern Ontario,” said Chris Winrow, chair of Northern Ontario Angels. “We welcome and appreciate FedNor’s continued support which allows us to continue to expand our services with the goal of bringing entrepreneurs and investors together to explore new business opportunities.”
The organization will use the new funding to open a part-time office in Kenora, provide seminars, training, and networking opportunities, and increase their presence in Northwestern Ontario.
$43.7 million from the total investment has been dedicated to Northwestern Ontario enterprises. NOA has chapters in Thunder Bay, Sudbury, Sault Ste. Marie, North Bay, and Timmins.
“I look forward to the long-term growth and prosperity this investment will deliver for Greater Sudbury and all of Northern Ontario,” Liberal MP Paul Lefebvre said. “Technology and innovation are the keys that will help us unlock the door to new economic, scientific, industrial, medical, social and environmental possibilities, and shape our future as a nation.”
Photo via TBNewsWatch