The Government of Canada supports newcomer entrepreneurs
Announcement of an investment of over CAD 3 million in the Toronto Business Development Center.
Entrepreneurial immigrants have unlimited potential to contribute to Canada's thriving and diverse economy. The government is committed to supporting aspiring entrepreneurs by providing them with the mentorship, resources, and tools they need to establish and successfully grow a business in Canada. This should contribute to inclusive economic growth.
On Monday, Filomena Tassi, the Minister responsible for the Federal Economic Development Agency for Southern Ontario, along with James Maloney, Member of Parliament for Etobicoke-Lakeshore, announced an investment of nearly CAD 3.3 million in the Toronto Business Development Centre (TBDC). This funding is to support 100 aspiring entrepreneurs who are looking to establish and grow their businesses in Southern Ontario.
"Toronto Business Development Centre (TBDC) is providing critical support and services for newcomer entrepreneurs in Ontario. We are making smart investments in strong partner organizations like TBDC to ensure that newcomers have opportunities to grow their businesses and contribute to their communities. Our Government believes in investing in people, investing in their potential, and investing in the endless possibilities available for Canadians." Tassi explained funding decision.
As part of this project, TBDC — an Ontario-based "business incubator" — will provide workshops, mentoring support, and training to help participating entrepreneurs learn new technologies and get their products to market faster. The funding announced will help entrepreneurs, primarily in the online services, healthcare, clean tech, advanced manufacturing, and agri-food industries, to set themselves up for success in southern Ontario.
These investments will support 100 new businesses owned or led by immigrants to Canada, which are expected to create 200 new jobs, 80 new products or services, and 50 new pieces of intellectual property.
Also as part of this project, TBDC will develop an online marketplace that will allow aspiring entrepreneurs to connect with southern Ontario business advisors, allowing them to receive customized advice on business development and creation. Participants in the start-up entrepreneur support program will also have access to digital tools to help them integrate new technologies to support their businesses.
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