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Feature
GOVERNMENT GRANTS FOR
TECH ENTREPRENEURS
The following grants for technology compan-
ies can help cover the costs of research and
development, hiring, training and more:
• Industrial Research Assistance Program
• Scientific Research and Experimental
Development Incentive
• Atlantic Innovation Fund
• Strategic Innovation Fund
• Innovator Skills Initiative
• Canada Job Grant
Cleantech is another growing sector that
has been popular for a couple of years and
will only get more so, says Hector MacKay-
Dunn of Farris LLP Vancouver, especially as
major funders are now required to invest in
sustainable businesses.
Sources of capital
e capital pool company system was created
and is currently regulated by the TMX Group
to help earlier-stage (small- to mid-cap) private
companies complete a go-public transaction
on the TSX Venture Exchange or Toronto
Stock Exchange. e special purpose acqui-
sition corporations — companies with no
commercial operations that are created by
a SPAC sponsor to raise capital through
an IPO for the purpose of acquiring an
existing company or companies in a specific
industry — fund mid- to large-cap compa-
nies, says Perry Dellelce, managing partner of
Wildeboer Dellelce LLP in Toronto.
"SPACs are used in all industries, but for
sure in the technolog y world."
ere has been less U.S. venture invest-
ment in Canada since the pandemic, Firsten
says, because the U.S. venture capitalists
can't travel to meet with founders. Investing
in Canadian companies has increased,
however, meaning that homegrown
Canadian venture capital funds are likely
investing more than previously.
