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Working with our membership, ITAC establishes and sets targets for where Canada's knowledge economy should be compared to key peer/competitor nations. Where we fall short, ITAC determines what we need to do to get there and ensure we do what is needed in areas such as: skills, capital, tax, science & technology, and collaboration.
ITAC believes Canadian businesses should be leaders in the use of ICT for competitive advantage, productivity and growth. Use of ICT by small and medium enterprises should increase towards that of our US counterparts. By partnering with other associations, as well as with Government, we work to ensure public policy supports these goals.
ITAC strives to ensure Federal, Ontario and other Canadian Governments are leaders in ICT use. ITAC positions itself as a trusted advisor to Government. We gather industry leaders and Government together and work to make it easier for our industry to sell to government.
ITAC believes the Canadian healthcare system should be a world-leading user of ICT to achieve superior patient outcomes and cost-effectiveness, as well as fostering development of a world-leading Canadian health ICT industry. ITAC works to correct chronic under-spend on ICT.
ITAC’s view is Canada’s laws should promote leadership in development and use of advanced technology. We want to ensure efficient and cost-effective measures to protect privacy and instill confidence in the e-economy.
ITAC believes that in order for Canada to continue to compete worldwide, we need to promote policies that will ensure a steady supply of talented men and women for our local ICT industry. We work with industry as well as with Federal, Provincial and local governments to establish initiatives to support this goal.
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Ontario Emerging Technologies Fund Launched
Posted August 5, 2009
The Ontario Emerging Technologies Fund (OETF) was officially launched on July 31, 2009. Please see attached fund guidelines and FAQ’s for OETF administered by the Ontario Capital Growth Corporation (MRI). Background on the OETF and contact information is provided for reference below.
Additional forms are also available at the web link below for angel investors, corporations, pledge funds, venture capital/private equity funds, or co-investors to apply for recognition under the program.
http://www.ocgc.gov.on.ca/site/en/funds/ontario-emerging-technologies-fund/
BACKGROUND - Ontario Emerging Technologies Fund
The Ontario Emerging Technologies Fund (OETF or the Fund) is a direct investment fund established by the Province of Ontario in 2009. The Government has announced that the OETF will be a $250 million fund over five years, to a maximum of $50 million per year for each of the 5 years, to co-invest alongside Qualified Investors into innovative, high-growth, private, Ontario companies.
The Fund is managed by the Ontario Capital Growth Corporation (OCGC), an agency of the Ontario Ministry of Research and Innovation.
The OETF is designed to respond to the challenges faced in raising capital by innovative, private, Ontario-based companies in the clean technology, life sciences and advanced health technologies, and digital media and information and communications technology sectors.
The OETF is intended to increase the amount of investment made directly into Ontario-based companies in solely the sectors noted above, and to become self-sustaining by allowing it to reinvest any returns from its investments.
It is a discretionary, non-entitlement investment fund. Notwithstanding the satisfaction of all criteria, OCGC may exercise its discretion not to approve any particular application for Qualified Investor or Eligible Investment.
The Fund model is based on a number of design principles that are consistent with achieving the government’s goal and objectives for the Fund:
o Market-based investment decisions – identification of investment opportunities will be undertaken by qualified investors that have a proven track record of success and have been pre-qualified by Ontario
o Rapid deployment of capital – the Fund will have the ability to make investments directly into companies within a short time frame
o Focus on key industry sectors for Ontario – the Fund will focus its investments on sectors of strategic importance to the province
o Government’s role as a catalyst – Ontario will act as a catalyst to leverage private sector capital.
o Ability to make additional investments into an investee company – the Fund will be able to make both initial and follow-on investments to support the ongoing growth of high potential, innovative companies.
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