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This week's Top Story: Federal government invests $53M in research infrastructure
Issue No. 09 - September 6, 2011

The federal government announced Thursday that the Canada Foundation for Innovation (CFI) will invest $53 million to create the knowledge, solutions and new products and services that Canada needs to compete globally. The investment will support 207 projects at 42 Canadian research institutions. The projects will aim to improve the health, well-being and security of Canadians.

Among the investments was $4.9 million for 18 projects focused on cancer treatment at the University of Alberta and $220,000 for two projects at the Universit� de Moncton and at the University of New Brunswick.

The CFI, created in 1997, awards funding based on a rigorous, merit-based competition process. 

 

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Government invests $61M in VC in Q1 2011

Venture capital investment reached $315 million in the first quarter of 2011, according to the SME Financing Data Initiative's latest issue of Venture Capital Monitor. 

This was the highest level of new investments since the second quarter of 2010, which represented $311 million. The higher level of investment was attributed to a higher level of participation by government investors, who contributed $61 million in the quarter, compared to only $16 million in the first quarter of 2010.

The Business Development Bank of Canada invested $34.8 million in venture capital into 17 companies and $25 million into two Canadian private independent funds. Most of the BDC's financing went to development and later-stage companies, with a smaller portion going to seed and start-up.

Still, foreign funds represented the most important source of venture capital for businesses, followed by private independent funds, government, retail funds, other sources and institutional capital.

During the first quarter of 2011, 111 companies received venture capital financing, and the average deal represented $2.8 million. A majority of the deals were later-stage investments, showing a decrease in seed and start-up investment.

Ontario, Quebec, British Columbia, Alberta and Manitoba saw increases in venture capital financing during the quarter, while, Saskatchewan and Nova Scotia saw a decrease year-over-year.

Information and communications technology firms attracted the most financing, followed by energy and environmental, traditional, and life sciences. 

 

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In This Issue
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Venture Capital in Q1
Meet our Funding Experts
Weekly FAQ
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The government announces support for clean energy projects in Aboriginal and Northern communities

The federal government announced Wednesday the renewal of the ecoENERGY for Aboriginal and Northern Communities Program, which will build on the progress already made in assisting communities to mitigate climate change. The ecoENERGY Program will receive $20 million over the next five years to support pre-feasibility and feasibility studies of renewable energy projects, as well as the design and construction of energy projects integrated within community buildings. Applications for funding will be accepted until Oct. 3. View the release.

 
Funding News

 

Vale and Xstrata Canada receive $20M from Ontario government to reduce energy costs

The government of Ontario announced Friday that Vale Canada Inc. and Xstrata Canada Corporation have received $20 million for energy efficiencies achieved in 2010-2011. Through the Northern Industrial Electricity Rate (NIER) program, the companies are receiving an energy rebate of two cents per kilowatt-hour to help manage electricity costs and improve energy efficiency and sustainability. View the release.

 

Abitibi Bowater receives $6.1M from Ontario government to reduce electricity costs

The government of Ontario announced Friday that Abitibi Bowater Inc. has received $6.1 million for energy efficiencies achieved in 2010-2011. The funding was received through the Northern Industrial Electricity Rate (NIER) program. View the release.

 

Government invests $276k in BC beef industry

The federal government announced Friday an investment of over $276,000 to establish the B.C. Carcass Tracking and Quality Information System at the Pacific National Exhibition's Agriculture Pavilion. The project will involve the development of software that enables the industry to better track, analyze and improve products by allowing for quick input and retrieval of information through a shared database. View the release.

 

PEI funds new fire school

The government of Prince Edward Island announced on Thursday it is providing support of $656,000 for the construction of a new facility that will help the Prince Edward Island Firefighters Association improve training for volunteer firefighters. View the release

 

Concertation Avignon-Bonaventure Inc. receives $70k to hold meeting in Gasp�sie

The federal government announced Friday the awarding of $69,825 in non-repayable funding to the organization Concertation Avignon-Bonaventure Inc. so that the meeting of Universit� rurale qu�b�coise (Quebec rural university - URQ) can, for the first time, be held in Gasp�sie this year. View the release.

 

Soci�t� Duvetnor Ltd. receives $240k in funding

The federal government announced Wednesday that Soci�t� Duvetnor Ltd. has been granted $239,850 in non-repayable funding to improve the tourism services on the islands it owns off the coast of Rivi�re-du-Loup in the Gulf of St. Lawrence. View the release.

 

Destination Gatineau receives $100k in funding

The federal government announced Wednesday the awarding of $100,000 in non-repayable funding to the organization Destination Gatineau. Destination Gatineau, which aims to develop the area along the Quebec shores of the Ottawa River to make it an international-calibre tourist attraction, intends to use the funding to conduct an opportunity and feasibility study. View the release.

 

Impression Rive-Sud Inc. receives $206k in federal funding

The federal government announced Wednesday the awarding of $206,000 in repayable funding to Impression Rive-Sud, a commercial printing company, to acquire specialized equipment and launch a well-structured marketing plan outside Quebec. View the release.

 

PEI develops $100k honey bee initiative

The government of Prince Edward Island announced on Wednesday it is investing $100,000 in a new initiative to enhance the province's honey bee industry. The Honey Bee Development Initiative will focus on enhancing breeding, skills training and beehive tracking to increase the industry's long-term viability. View the release.

 

Blind River Development Corp. receives $1M

The government of Ontario announced last Tuesday that with $1 million in support from the province, the Blind River Development Corporation will build a 17,500-square foot centre in its eco-industrial park. The new business clean technology centre will support the emerging solar energy sector in Blind River and help create 18 jobs. View the release.

  

TitanFile secures $250k in financing

The government of Nova Scotia announced last Tuesday that TitanFile Inc. has secured $250,000 in financing from Innovacorp, the province's technology commercialization agency. The company, which provides a secure, online file-sharing service, is advancing its innovative technology and entering new markets. View the release.

 

PEI commits $150k to Canadian Red Cross capital campaign

Construction of a new $1 million provincial headquarters and disaster operations centre for the Canadian Red Cross will be kick-started with a provincial investment of $150,000, the government of Prince Edward Island. View the release.

 

Government supports partnerships between businesses and Ryerson

Ryerson University students and recent graduates will gain real-world experience and business skills through up to 150 internships with small- and medium-sized businesses in southern Ontario, thanks to a new Government of Canada investment of $2 million announced last Tuesday. Fifteen local businesses will also benefit from the University's research expertise in various industries to help bring their ideas into the marketplace. View the release.

 

Entreprises Parlec Receives $288k to improve productivity

The federal government announced last Tuesday the granting of $287,500 in repayable funding to the firm Entreprises Parlec. Parlec specializes in the manufacture of tooling and machining products for drilling contractors and also does subcontracting work for diamond manufacturers. View the release.

 

Clemex Technologies Inc. receives $106k for commercialization

The federal government announced last Tuesday that Clemex Technologies Inc. has been granted $106,300 in repayable funding to carry out a commercialization project. The product Clemex Technologies wants to introduce to market is a new system for the analysis of blood smears for hospital laboratories, teaching facilities and private clinics. View the release.

 

kCentric Technologies Inc. receives financial support to boost U.S. sales

The federal government announced last Tuesday the granting of $75,000 in repayable funding to kCentric Technologies Inc. for the implementation of a commercialization strategy that will enable the firm to increase its sales on the United States market. The Laval firm has been offering an electronic business solution known as k-eCommerce. View the release.

 
Profile: Deborah Weinstein, LaBarge Weinstein 

  

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Credit: Labarge-Weinstein

Deborah Weinstein is a co-founder and partner at LaBarge Weinstein who represents a wide range of clients, from start-ups to Canadian public and foreign issuers. Ms. Weinstein practices business, corporate finance and securities law and specializes in corporate commercial law, corporate finance, corporate governance, employment law, mergers and acquisitions, private equity, securities and technology and licensing.

Ms. Weinstein is one of the preferred service providers selected by THE FUNDING PORTAL to help your business reach its growth objectives.  

 

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