It was recently announced that the government of Canada will invest over $3 million to support international tech entrepreneurs in southern Ontario.
Indeed, the LatAm Startups Conference and the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) will be scaling a business support network and helping international start-ups in the technology sector to incorporate, do business, and create jobs within southern Ontario. This will be done through Startup Programs for eligible international entrepreneurs.
The program aims to support underrepresented groups in the innovation economy by promoting the talents of women, youth, racialized individuals, and Indigenous Peoples. It will make sure to connect entrepreneurs with local talent through partnerships with community groups.
This investment will then strengthen the local economy and support southern Ontario as well as create good and secure jobs for Canadians. Sectors such as manufacturing, cleantech, and health and life sciences will be available to entrepreneurs to start and grow in Ontario.
Hence, the project will support 100 new international businesses, which will hopefully create 180 jobs and file 100 intellectual property registrations. It should also generate C$50 million in revenues and contribute to the commercialization of new clean technologies in southern Ontario.