Start-up companies with green technology and other high tech inventions will have a new $250 million provincial fund to tap into.
The McGuinty government's innovation agenda is extending a hand to emerging technology companies experiencing difficulty raising venture capital in tight financial markets.
Starting in July, the Emerging Technologies Fund will roll out money over the next five years together with matching "qualified venture capital funds and private sector investors," said a news release by the Ministry of Research and Innovation.
The fund is specifically targeted at companies working in clean technology, life sciences, digital media and information communication technology. The goal is for the fund to be self-sustaining through a return on investment.
The fund will match small to medium private sector investments and receive an interest in companies it supports.
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