News Release (REVISED)

From the Prime Minister's Web Site (http://www.pm.gc.ca/)

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PM announces support for small businesses in Southern Ontario

Canada's Economic Action Plan

October 15, 2010
Vaughan, Ontario

Prime Minister Stephen Harper today announced the launch of a new business innovation program that will help start-up businesses in southern Ontario create new jobs and gain a competitive edge in today's modern economy. The Prime Minister was accompanied by Gary Goodyear, Minister of State (Science & Technology and the Federal Economic Development Agency for Southern Ontario), and Peter Kent, Minister of State (Foreign Affairs – Americas).

"Our Government is committed to creating jobs and making Canada's economy more robust, diversified and competitive," said Prime Minister Harper. "This program will provide start-up businesses in Ontario with the tools they need to attract investment capital, get new products to market and generate wealth and jobs."

The Investing in Business Innovation program is based on direct feedback from business leaders, academics and community leaders from across Southern Ontario who suggested the Government take action to address funding challenges for emerging businesses. It is supported through FedDev Ontario's Southern Ontario Development Program.

The program will encourage greater collaboration between entrepreneurs and investors, provide improved access to financing for start-up businesses, boost private sector investment in start-up businesses, and help accelerate the research and development of new products and ideas and bring them to the marketplace.

The Harper Government created FedDev Ontario in 2009 as part of Canada's Economic Action Plan. FedDev Ontario invests in innovation, research and development, skills and training and supports initiatives which increase economic productivity in southern Ontario.

Since July 2009, Canada's Economic Action Plan has contributed to the creation of more than 420,000 net new jobs in the Canadian economy. Since last May, more than 211,000 new jobs have been created in Ontario.

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The Prime Minister's Office - Communications
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