Archived — Government of Canada Supports New Business in Vaughan

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For immediate release
October 20, 2011

Vaughan, Ontario – Newtopia Inc. will bring to market its innovative high tech weight loss and healthy living programs thanks to a Government of Canada investment. The Honourable Julian Fantino, Associate Minister of National Defence on behalf of the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) is pleased to see this project moving forward.

"The Government of Canada is working to make the most of southern Ontario's opportunities to innovate, adapt and grow, and secure a prosperous future for our people, businesses and communities," said Minister Fantino. "Through investments like this, we are helping our start-up businesses grow into global leaders."

With a repayable contribution of up to $248,720 through FedDev Ontario's Investing in Business Innovation initiative, Newtopia Inc. will launch customized online weight loss and healthy living programs coupled with access to a leading team of Canadian experts in nutrition, exercise and behavioural well-being. The federal funding will support the company's web portal, technology development, and build direct sales channels to launch services and products throughout Canada.

"We are delighted to have the support of the Government of Canada to commercialize Newtopia's next generation approach to sustainable weight loss and healthy living," said Jeffrey Ruby, Founder and CEO of Newtopia. "Newtopia is a good news story for Canadians' weight and overall health as we can affordably deliver to everyone complete personalized lifestyle solutions for long term results that were once only available to the rich and famous."

Investing in Business Innovation is a direct result of feedback from business leaders, academics and community leaders from across southern Ontario, who suggested FedDev Ontario take a leadership role in encouraging entrepreneurs and investors to take the risks necessary to put southern Ontario businesses on the map.

Through Investing in Business Innovation, the Government of Canada is focusing on a portfolio of early-stage businesses that are recognized by the investor community as having the potential for high-growth and a net long-term economic benefit for southern Ontario. The potential of these businesses is measured by the investment commitments secured from accredited angel or venture capital investors.

For more information, please refer to the backgrounder.

Created in 2009, FedDev Ontario supports the southern Ontario economy by building on the region's strengths and creating opportunities for jobs and economic growth. The Agency has launched a number of initiatives to create a Southern Ontario Advantage and place the region in a strong position to compete in the global economy. These initiatives are designed to encourage partnerships and support projects that help the region"s businesses and communities become more competitive, innovative and diversified. To learn more, please visit www.feddevontario.gc.ca or call 1-866-593-5505.

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For more information, contact:

Gary Toft
Director of Communications
Office of the Honourable Gary Goodyear
613-943-7599

Media Relations
FedDev Ontario
519-571-6879


Backgrounder

Contribution to Newtopia Inc.

FedDev Ontario is providing Newtopia with a repayable contribution of up to $248,720 to allow the company to launch its innovative weight loss and healthy living management programs nationally. XDL Angel Group has also provided funding for this project.

Newtopia is a personalized health coaching company that allows clients to access genetically customized weight loss and healthy living plans put together by a team of interdisciplinary experts who focus on nutrition, exercise and behaviour management. Their patent pending technology includes personal genetic testing, online coaching, personality matching, and wireless monitoring tools.

Newtopia opened a corporate sales centre in Vaughan, Ontario in March 2009. After 16 months of providing coaching and beta testing its coaching platform, the company has completed its proof of concept phase with active clients who are sustainably losing weight and living healthy based on program expectations.

Investing in Business Innovation

Through Investing in Business Innovation, the Government of Canada is focusing on a portfolio of early-stage businesses that are recognized by the investor community as having the potential for high-growth and a net long-term economic benefit for southern Ontario. The potential of these businesses is measured by the investment commitments secured from accredited angel or venture capital investors.

FedDev Ontario"s Investing in Business Innovation is designed to boost private sector investment in start-up businesses to accelerate the development of new products, processes and practices, and help bring them to market. Funding is also available for angel investor networks and their associations to attract new investment and support the growth of angel investment funds. 

Applications for funding are being accepted and assessed on an ongoing basis. For more information and to apply, please refer to the program guidelines available on the FedDev Ontario web site at www.feddevontario.gc.ca.

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