UOIT says national business accelerator and incubator competition will encourage innovation and job creation

OSHAWA, ONTARIO – The University of Ontario Institute of Technology strongly supports the federal government’s funding for new business incubators and accelerators across Canada. The competition announced September 23 will fund qualified outstanding and high-potential Canadian business accelerators and incubators to support the growth and development of entrepreneurs and start-up firms.

“Business accelerators and incubators are long recognized as crucial players in the venture capital system,” said the Honourable Jim Flaherty, Minister of Finance and Whitby-Oshawa MP, during the announcement in Toronto. “These organizations bring entrepreneurs together and provide them with hands-on mentorship by successful innovators and access to specialized business services to develop their ideas and grow their businesses and the jobs of tomorrow. Graduates of these programs will be better prepared to attract customers, form strategic partnerships and secure private investment.”

“Fostering entrepreneurship is part of the University of Ontario Institute of Technology’s DNA, from our professors and researchers to our graduate and undergraduate students,” said Tim McTiernan, UOIT President and Vice-Chancellor. “UOIT’s brightest minds are job-ready and keen to start their own enterprises, and this initiative indicates the kind of support that our students need for their entrepreneurial pursuits.”

UOIT contributes to economic and community development and new economy jobs, through faculty and student research that focuses on advanced manufacturing, sustainable energy and smart communities. The university supports a full spectrum of research and scholarly activities from applied research to blue sky discovery.

The program will be accepting proposals through October 30, 2013.

• Link to Government of Canada news release