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Government Makes $1.5 Million Investment to Support Growth of Angel Investor Community in Western Canada
Friday, August 14, 2015Company Profile | Follow Company
Vancouver, BC, August 14, 2015--(T-Net)--Andrew Saxton, Member of Parliament for North Vancouver, on behalf of the Honourable Michelle Rempel, Minister of State for Western Economic Diversification, has announced $1.5 million in Western Diversification Program funding to the National Angel Capital Organization (NACO), to implement a three year initiative aimed at growing the Angel investor community in Western Canada.
Through this investment, NACO will identify, recruit and educate Angel investors within Western Canada and connect these groups with other established Angel communities throughout Canada and the United States.
This initiative is expected to triple the number of visible Angel investors in Western Canada, tapping into unexplored investment potential.
To strengthen the partnership between the Angel investor community and beneficiary innovation firms, NACO will work to identify best practices, develop investment standards, and determine preferred delivery channels. This will provide innovation firms access to capital and lead Canadian companies to market their products more efficiently.
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Editor's Note: Well known local angel investor Mike Volker is a Director of NACO, as well as local Mike Edwards who is currently CEO of Mobio Technologies Inc.
Additional Note: For companies or entrepreneurs looking to raise capital for their ventures or initiatives in BC, two well known angel groups in BC are the Vancouver Angel Capital Network (Vantec) and the Angel Forum, which runs periodic Angel Forums each year and is run by Bob Chaworth -Musters.
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Quick Facts
“Our Government is committed to providing trade and investment opportunities to allow businesses, communities and institutions in the West to remain competitive in the global market. This ensures that Canadians can enjoy the benefits of strong economic growth and a high standard of living.” said Andrew Saxton, Member of Parliament for North Vancouver.
“This investment will strengthen Western Angel organizations, entrepreneurs and the economy. I'm looking forward to the innovative program this will fund and I believe it will make an impact over the next three years." stated Michelle Scarborough, NACO Board, Member of Directors, Chair.
Additional Links
Contacts
Ben Stanford
Regional Communications Manager
Western Economic Diversification Canada
Telephone: 604-666-3395
Email: ben.stanford@wd-deo.gc.ca
Melissa Durrell
Communications Strategist
National Angel Capital Organization
Telephone: 519-500-4408
Email: melissa@durrellcomm.com
Website: WD is online at www.wd-deo.gc.ca.
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Western Economic Diversification
Vancouver
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