Great news for Canadian start-ups - Government of Canada announced major funding for BDC today:
The Honourable Tony Clement, Minister of Industry, today announced that the Government of Canada is providing $450 million to the Business Development Bank of Canada (BDC) in support of small and medium-sized enterprises and innovative firms.
The funding will include $100 million to establish the Operating Line of Credit Guarantee and $350 million over three years to help drive venture capital investment in promising Canadian technology businesses.
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The $350 million in funding for BDC's venture capital activities will allow it to make additional direct investments of $260 million over three years in Canadian businesses already in the BDC portfolio, as well as investments in new seed technology companies and later-stage technology companies. It will also allow BDC to commit $90 million over three years to private, independent Canadian venture capital funds. This funding is in addition to the $75 million in venture capital funds allocated in the Government of Canada's Budget 2008, which is being used to support the creation of a privately run venture capital fund.
Any thoughts on this ?
BDC Venture Capital is a major venture capital investor in Canada, active at every stage of the company's development cycle, from start-up through... [more]
very disappointed in BDC out of the box thinking..
Maybe I should have been wiser, nonetheless I am sitting with almost 150,000 in paid for inventory, and two year lease on a property,,myself and business parnter professional in our own right,,gainfully employed for many years,,great business plan, we need 150,000 as a comfort area to issue a p/o for our first inventory set up and they will not help.....I sold my house to invest money in this business,so ability and intent are there,,and noone will hel
