29 May Invest Ottawa’s Scale-up Platform
Federal funding of $16.9 million in federal will be used to develop and grow eastern Ontario tech firms over the next five years. The goal is to help at least 10 of them achieve revenues of $100 million or more and create 18,000 skilled jobs and achieve revenues of $100 million or more by 2024.
Invest Ottawa will be working with 10 regional partners, including post-secondary institutions, the Ottawa Hospital, Launch Lab in Kingston, ON, and L-SPARK in Ottawa to give companies in eastern Ontario:
• Access to skilled workers
• Help to find investment capital
• Specialized market intelligence services
• Marketing and public relations services
According to Invest Ottawa president and CEO Michael Tremblay, “It includes things like coaching and mentoring services, as we normally do, but just more aggressively targeted at later-stage companies to help to achieve that overall goal of scale-up.”