FedDev Ontario: Leveraging Resources to Support Emerging Innovation
Region: Ottawa
[Opening graphic sequence]
[Text on screen – Leveraging Resources to Support Emerging Innovation]
[Parm Gill - Executive Director, Capital Angel Network, Ottawa]
Capital Angel Network is a non-profit organization based here in Ottawa. And we provide monthly pitch sessions for entrepreneurs to come in and pitch to the group—the membership at large—and potentially from that, hopefully they'll generate some interest, and those members who are interested will follow on and do some due diligence and potentially invest in the opportunities that they see.
Strong angel and venture capital investment is very important for businesses in Ontario, in southern Ontario in particular.
The funding we received through FedDev Ontario's Investing in Business Innovation program allows us to run our monthly meetings, support the local entrepreneurial ecosystem and drive our membership and growth of that membership base. We also help find other international sources for financing and help those entrepreneurs leverage those connections to raise further financing and follow-on financing.
[Switch to Bill McPhee - Boston Harbor Angels Member, Boston]
Well we joined the Capital Angel Network because we believe that there is tremendous opportunity to invest in emerging technologies in Canada. And that relationship, coupled with other relationships with angel groups in southern Ontario, has opened our eyes to new and exciting investment opportunities.
FedDev Ontario's robust commitment to supporting early-stage companies was really critical to our decision to cross the border and invest in a revolutionary technology like eSight.
[Switch to Kevin Rankin - CEO, eSight, Ottawa]
eSight Eyewear is an assistive technology and a new class of product that brings enhanced vision to those with low vision. We incorporate high definition camera technology into the wearable eyewear that changes people's lives.
Without FedDev Ontario's support and the leverage of additional resources, we would not be able to launch this product right now.
The Investing in Business Innovation program is a brilliant example of how the public sector can be a catalyst for collaboration and partnership within the investment community.
eSight is supported by a broad syndicate of angel investors from Canada and the U.S. They've helped us to better position the company and the business strategy, they provided key capital, and we anticipate working with these organizations for years to come.
[Switch to Parm Gill]
The funding from FedDev Ontario is critical for continuing growth of investment initiatives and the success of innovative businesses in southern Ontario.
[Text on screen – www.FedDevOntario.gc.ca Follow us @FedDevOntario]
[FedDev Ontario identifier and Canada wordmark]