FedDev Ontario is providing a non-repayable grant of $1.32 million to the TechAlliance of Southwestern Ontario, an organization offering services to start and grow businesses across industries, to launch the BURST program.
The program will run in three different cohorts. Each BURST recipient will receive up to $30,000 in seed funding (matched by the business); up to $10,000 in training, mentoring and business guidance; and access to workspace at Western University’s Discovery Park.
Capital régional et coopératif Desjardins (CRCD) and Caisse de dépôt et placement du Québec announced a $90 million reinvestment in Capital croissance PME (CCPME), a fund created to support Québec SMEs. This brings the fund’s total capitalization to $540 million.
Since 2010, CCPME has helped fund 322 Québec companies; last year, it provided financing for 70 companies. CCPME aims to help companies raising less than $5 million.