The federal government is investing $1.4 million in two London-based organizations, saying it will help innovative business in the city grow.
Gary Goodyear, minister of state for FedDev Ontario, said in a statement, “Our Government, through FedDev Ontario, continues to invest in jobs, growth and prosperity by supporting start-up and early-stage businesses. Innovative start-ups need access to capital today to grow into the flagship businesses of tomorrow and we are creating that environment, right here, in London.”
An investment of up to $900,000 is being made in Voices.com, which connects businesses with voice talent through an online marketplace, to help it grow globally.
The company plans to hire 45 full-time employees and translate its products into six languages to expand its reach.
It's hoped that $500,000 will help the Southwestern Ontario Angel Group (SWOAG) grow its mempership and investment funds, so it can continue to help mentor early-stage high-growth companies.
The company plans to increase membership from 65 to 115 members, giving 40 more companies more than $10 million over the next five years.
