Pilot Program works to address Investment Challenges in Atlantic Canada
Over the last few years, we have seen significant changes in the funding landscape. Early stage start-ups and small SMEs who make up the bulk of the industry in the region, are subjected to changes in programs and investment behaviors which impact their ability to grow a business. The issue of increasing investment attraction in Atlantic Canada has been on our radar for a while.
Meanwhile, our companies have a global economy to compete with and need to let policy work its process – which means using the programs as they exist, and increasing access to private capital.
The challenge is that regional private capital rarely engages early enough compared to some of the above example programs. So our private sector capital gap just gets bigger. Enter The Investment Opportunities Program (IOP) stage left. The goal of this program is to help offset this gap.
This pilot, which is funded by the Atlantic Canada Opportunities Agency (ACOA) aims to select an initial group of 16 of our most promising early-stage companies, provide training and mentorship and groom with up to 12 companies being selected to attend an to attend an investment attraction mission to Toronto, where they will have the opportunity to meet with angels and early-stage investors looking for new opportunities.
This pilot program aims to show that putting processes in place that facilitate matches between investors and investable companies can yield great results and help bridge the private sector capital gap.