The Government of Canada is teaming teams up with the Northern Ontario Angels to create 750 jobs by using over $1.8M to connect private investors with companies in the region
Northern Ontario Enterprise Gateway (Northern Ontario Angels), is a not-for-profit organization led by a board of volunteers that links private investors with northern Ontario businesses to stimulate investment opportunities in the region.
"The funding will support a three-year Northern Ontario Angels project designed to support the expansion and modernization of over 100 businesses in northern Ontario," says a news release. "The project is anticipated to result in 750 new jobs and over $13 million dollars invested in northern Ontario companies by 2027."
This will be accomplished through the implementation of a detailed marketing and branding strategy, geared toward increasing awareness and visibility of the Northern Ontario Angels. It will also include the development and implementation of an Indigenous business strategy. Additionally, the project will provide education and training for entrepreneurs and investors, increase support for life sciences and mining innovation companies, and increase international investments in northern Ontario companies.
Northern Ontario Angels is a pan-northern organization that provides services through its chapter communities in North Bay, Sudbury, Thunder Bay, Sault Ste. Marie, Timmins, Kenora, Parry Sound, and the Far North.
Today, Viviane Lapointe, Member of Parliament for Sudbury, and Marc G. Serré, Member of Parliament for Nickel Belt and Parliamentary Secretary to the Minister of Official Languages, announced a FedNor investment of $1,834,000 in
“Investments in northern Ontario businesses ensure the sustainability of our regions while helping improve the quality of life for people across the North," said MP Marc G. Serré,
“Our goal is to help companies in northern Ontario grow and succeed through the attraction of angel investments, and FedNor's support is critical in helping us accomplish that goal," explained Ian Lane, Executive Director of Northern Ontario Angels.
The funds announced today are provided through FedNor's Northern Ontario Development Program (NODP).
The Northern Ontario Angels works to stimulate investments in northern Ontario companies to help them grow and succeed by improving the flow of investment capital, investment education, and management expertise into high-growth potential Northern companies.
Since their creation in 2005, the Northern Ontario Angels have helped over 500 companies receive investments of over $250 million from angel investors. Through their investment connections, the Northern Ontario Angels have helped create and maintain nearly 6,000 new jobs across northern Ontario says the release.
