Canadian Government Announces Which Startup Accelerators Will Get Funding Under CAIP

Posted by Knowlton Thomas

Prime Minister Stephen Harper today announced the organizations that have been chosen to advance in the selection process for the Canada Accelerator and Incubator Program (CAIP). He made the announcement at Communitech in Waterloo.

In 2013, the Government of Canada established CAIP to help accelerators and incubators deliver their services to promising Canadian firms. CAIP is delivered on behalf of the Government by the National Research Council’s Industrial Research Assistance Program (NRC-IRAP), which evaluated all proposals "based on strict eligibility and selection criteria."

Eligible proposals were then presented to the independent Canadian Venture Capital Expert Panel for their review and recommendations, according to the government.

NRC-IRAP is now conducting a thorough due diligence process to establish contribution agreements with the selected organizations. The following organizations have been chosen to advance in the selection process under the CAIP:

  • GrowLab Ventures in collaboration with Extreme Startups
  • Invest Ottawa, in collaboration with Wesley Clover, PARTEQ Innovations and InnovationPark at Queen’s University
  • Manitoba Technology Accelerator (MTA)
  • Prince Edward Island BioAlliance Inc.
  • Propel ICT
  • Ryerson University, in collaboration with Simon Fraser University and University of Ontario Institute of Technology
  • The Next 36
  • University of Alberta, in collaboration with TEC Edmonton and Innovate Calgary
  • Wavefront Wireless Commercialization Centre Society
  • BC Technology Industry Association (BCTIA)
  • Bioenterprise Corporation
  • Centre d’entreprises et d’innovation de Montréal (CEIM)
  • Centre for Drug Research & Development (CDRD), in collaboration with CDRD Venture Inc.
  • Communitech Corporation, in collaboration with University of Waterloo Velocity, Laurier LaunchPad and the Waterloo Accelerator Centre
  • Corporation Inno-Centre du Québec

CAIP provides support over a five-year period in the form of non-repayable contributions to a small and select number of accelerators and incubators. Maximum contributions to accelerators and incubators under the program "are up to $5 million per year for each selected outstanding organization."

Recipients will be required to demonstrate matching contributions on at least a 1:1 basis during the period of the contribution funding.

“It is critical for Canada’s small- and medium-sized businesses to harness innovation and get their ideas to the marketplace so that they can grow, create jobs and contribute to the economy," said Harper.

"Accelerators and incubators have the experience, tools and know-how to help get small Canadian start-up businesses up and running. Our Government is pleased to be supporting private sector-led initiatives that further strengthen our venture capital market.”

Company:
Invest Ottawa
Website:
http://www.investottawa.ca
Location:
Ottawa, Ontario, Canada

Invest Ottawa delivers economic development programs and initiatives that increase entrepreneurial momentum, wealth and jobs in the City of Ottawa and its surrounding region. Its goal is to make Ottawa the best place in Canada to start and grow a knowledge-based business. Invest Ottawa services include startup incubation and mentorship, acceleration for existing companies, global business attraction and local... more

Company:
Communitech
Website:
http://www.communitech.ca
Location:
Waterloo, Ontario, Canada

Communitech is located in Waterloo Region, 110 kilometres (66 miles) west of Toronto, Ontario, Canada in an area that includes the cities of Kitchener and Waterloo. Communitech is the regional hub for the commercialization of innovative technologies supporting and building a Southwestern Ontario tech cluster of close to 1,000 companies that now generates more than $30B in revenue. A member of the Ontario Network... more

Company:
Wavefront
Website:
http://www.wavefrontac.com
Location:
Vancouver, British Columbia, Canada

Wavefront is the national centre of excellence for wireless commercialization accelerating the growth and success of wireless companies in Canada. Wavefront improves speed-to-market and delivery of mobile applications and wireless technologies by providing emerging companies with a suite of WaveGuide™ training, mobile industry advisory services, incubation services, testing resources and market linkages that... more

Company:
GrowLab Ventures Inc.
Website:
http://www.growlab.ca
Location:
Vancouver, British Columbia, Canada

GrowLab supports the World's best entrepreneurs through seed funding, office space, mentorship & programming in Vancouver & San Francisco. more

Company:
Extreme Startups
Website:
http://www.extremestartups.com
Location:
Toronto, Ontario, Canada

Extreme Startups is a venture backed startup accelerator that supercharges founder development, optimizes product-market fit and graduates fundable companies. Our evolved programs provide an unrivaled combination of seed capital (up to $250K), digital product leadership education and access to a global pool of mentors. Investors and financial partners include Business Development Bank of Canada (BDC), Relay... more

Company:
The Next 36
Website:
http://www.thenext36.ca
Location:
Toronto, Ontario, Canada

The Next 36 addresses Canada's deficit of high impact entrepreneurship by providing resource-rich education programs to promising young entrepreneurs. It was founded by a small group of business leaders and academics and is championed by Founding Patrons W. Galen Weston, Paul Desmarais, Sr. and Jimmy Pattison. We believe that by fast-tracking the development of Canada’s most talented young innovators, we will... more


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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys playing tennis, hiking, and exploring weird side streets. more



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