Yesterday Ontario announced the first recipients of the Youth Investment Accelerator Fund Program (Youth IAF).
Launched in 2013 as part of Ontario's Youth Jobs Strategy, the program invests in technology-based start-ups founded by entrepreneurs under the age of 30.
The Youth IAF is designed to accelerate the commercialization of innovative technologies in Ontario by investing up to $250,000 per eligible company. The first recipients of funding are:
PUSH - a sports-science technology start-up that helps optimize training by instantly transmitting feedback about an athlete's movements. PUSH allows customized workouts, performance monitoring and instant progress review.
Rubikloud - a platform that processes massive amounts of e-commerce data and delivers insight into how revenue, conversions, traffic and application performance impact business.
Soapbox - an innovation management tool that helps maximize engagement through ideas. Employees add ideas, vote, discuss and get a response. Leaders are able to make better decisions faster, while engaging with the people they employ.
Greengage Mobile - helps organizations meet sustainability goals, such as decreasing their environmental footprint or improving the local community. Using a mobile device, employees can earn points, receive rewards and compete with co-workers, while helping the company reach its goals. Progress metrics are available on demand, so employee engagement and results are immediately tracked.
Helping young people find jobs is part of the Ontario government's economic plan to invest in people, build modern infrastructure and support a dynamic and innovative business climate.