“This unique investment approach will provide support to our growing number of small to medium sized businesses in the North.” – Nault
(KENORA) November 16, 2017 – Today, the Hon. Bob Nault, Member of Parliament for the Kenora riding, commends the Government of Canada’s investment of $1,266,000 to help businesses become investment-ready and attract private capital. The three-year investment through FedNor will be provided to the Northern Ontario Angels (NOA), a not-for-profit organization that facilitates connections between Northern Ontario entrepreneurs and accredited angel investors.
“I am pleased to see that a new chapter of NOA will be established in Kenora to stimulate increased investment capital in businesses throughout the riding,” stated Nault. “This unique approach will provide services such as assessments, seminars, coaching, and networking to our entrepreneurs.”
The funding was announced today by the Honourable Patty Hajdu, Minister of Employment, Workforce Development and Labour, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedNor, the Government of Canada’s economic development organization for Northern Ontario.
In addition to establishing a new chapter in Kenora, the three-year funding will enable NOA to continue to expand its services throughout Northern Ontario by strengthening and growing its chapters in each of the region’s five largest communities (Sudbury, Thunder Bay, Sault Ste. Marie, North Bay and Timmins).
· FedNor’s investment of $1,266,000 is provided through its Northern Ontario Development Program which supports projects that promote sustainable community economic development, enhance business development and growth, and facilitate innovation throughout the region.
· NOA’s goal is to stimulate increased investment capital into Northern Ontario companies to help them succeed. This is accomplished by improving the flow of investment capital, investment education, and management expertise into high-growth potential northern companies.
· An angel investor is an individual or group of individuals who provide investment capital to new or growing businesses and expect a percentage of ownership equity in return. Angels typically seek investment opportunities in high growth, small to medium enterprises that are too young to qualify for bank loans or other traditional means of financing.
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To arrange an interview with the Hon. Bob Nault, please contact: