Program helps entrepreneurs create companies, jobs
FedDev Ontario invests $1.32 Million to support 30 companies and create jobs
A new incubation program, BURST, will provide 30 innovative technology entrepreneurs in southwestern Ontario with the skills they need to succeed now and in the future. FedDev Ontario is providing TechAlliance of Southwestern Ontario with up to $1.32 million to deliver the new program. Through TechAlliance’s BURST, companies will receive mentoring and business guidance, seed funding, exposure to potential investors and access to a dedicated working space in Western University’s Discovery Park.
“The BURST program will unite many of the services and resources available to the city’s entrepreneurs in a whole new way, representing a unique and exciting opportunity for London,” says Marilyn Sinclair, president & CEO TechAlliance of Southwestern Ontario.
It is expected that up to 45 new full-time jobs will be created
As entrepreneurs establish and grow their businesses with help from this program, it is expected that up to 45 new full-time jobs will be created. Building on London’s history of innovation in health sciences, a unique partnership with the London Medical Network will also be established to help eligible medical technology companies receive funding.
“FedDev Ontario’s support for TechAlliance of Southwestern Ontario is helping local entrepreneurs develop their business skills and launch promising start-up companies. With a focus on commercializing medical technologies, this incubation program builds on this region’s strengths and resources in the life sciences sector,” says Peter Fragiskatos, Member of Parliament for London North Centre.
Offers services to help start, grow and connect companies
TechAlliance of Southwestern Ontario is a not-for-profit corporation that offers services to help start, grow and connect companies, at all stages of growth, in many industries including digital media, life sciences, advanced manufacturing, and clean technology.
“The support that TechAlliance of Southwestern Ontario provides for businesses in this region is invaluable. The Government of Canada is proud to help TechAlliance expand its offerings to include access to seed funding, which is critical for early-stage businesses,” says Kate Young, Member of Parliament for London West.