An additional $5.5 million for Accelerator Centre to help over 125 start-ups and create 400 more jobs

November 30, 2018 – Waterloo, Ontario

The Government of Canada is ensuring the right measures are in place to provide Canadian entrepreneurs with the resources and opportunities they need to succeed.

Today, the Honourable Bardish Chagger, Leader of the Government in the House of Commons and Member of Parliament for Waterloo, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario, announced additional FedDev Ontario funding of up to $5.5 million to create more jobs, companies and innovative products through the Accelerator Centre.

The additional FedDev Ontario investment in AC JumpStart means this much-sought-after program will be extended by more than two years and be able to offer seed funding, mentoring and coaching to another 126 start-ups. Working with established partners University of Waterloo, Conestoga College, Wilfrid Laurier University and new partner University of Guelph, AC JumpStart will extend its reach into the technology hardware, advanced manufacturing, clean technology, sustainable energy, agri-tech and agri-food sectors.

Today's announcement builds on a previous FedDev Ontario contribution of $8 million to support AC JumpStart. So far, over 190 start-ups have received support to commercialize 230 new products, resulting in over $3.3 million in initial sales. In total, the overall project is expected to support over 300 companies and create up to 1,100 highly skilled jobs across the region.