The Secret Sauce Behind Ontario's High-Growth Start-Ups
Ontario Angel Investment Surpasses $91M in 169 Early-Stage Companies
TORONTO, Sept. 23, 2013 /CNW/ - The Network of Angel Organizations - Ontario (NAO-Ontario) today unveiled its Angel Network Activity for 2012-13. The network, that grew membership to 946 accredited investors, reported a 41 percent increase in direct member investment into 77 new Ontario-based early stage companies.
Technology ventures and high-value employment across Ontario continues to accelerate as a result of contributions made by two complimentary government initiatives: Ontario's Angel Network Program (ANP) and Canada's Investing in Business Innovation Outreach program (IBIO). A total private investment leverage on the combined government funding to assist in organizing the network is over 40 to 1.
Angel groups bring together their members for educational seminars and networking events, and conduct community outreach, bridging the information gap between investors and entrepreneurs. The growing ranks of organized Angel investors in these groups have significantly helped early-stage companies fill their initial round of financing.
Since 2007, members of the network have invested and leveraged $255 million of private direct investment into 169 Ontario companies, creating and sustaining more than 2,200 jobs. This $255 million is composed of $91.6 million in direct member investment (includes $61.5 million from ANP-supported group members), and $163.3M in co-investment and follow-on investment by other investors.
"Entrepreneurs still need the private sector for the capital and expertise needed to commercialize. By supporting the network, the government provides entrepreneurs an opportunity to attract growth capital from private investors province-wide, " said Jeffrey Steiner Executive Director of NAO-Ontario.
"Alternatively, supporting groups that allow the private sector to collectively select and invest in early-stage companies helps ensure that high-value opportunities move forward. Angel-backed companies illustrate small business job creation at its finest and catalyze significant economic development throughout Ontario," NAO-O board Chair, Dr. Patricia Lorenz added.
About NAO - Ontario
NAO - Ontario, a member of the Ontario Network of Entrepreneurs, is the Administrator of Ontario's Angel Network Program, on behalf of the Government of Ontario. Since 2007 its mission has been to create and grow non-profit Angel investor groups for all the regions of Ontario. Building the membership and best practices of these groups builds a more potent combination of mentorship and capital for innovative start-up companies in the province. Angels are accredited investors who directly contribute both their money and their expertise into early-stage companies seeking growth in Ontario, leading to job creation and an expanding economy. For more information visit nao-ontario.ca
About the Ontario Network of Entrepreneurs
Supported by the Government of Ontario, the Ontario Network of Entrepreneurs (ONE) is Ontario's innovation system. The ONE is made up of regional and sector focused organizations designed to help Ontario-based entrepreneurs rapidly grow their companies, and create jobs. For more information visit www.onebusiness.ca
SOURCE Network of Angel Organizations - Ontario
Video with caption: "VIDEO: Experience power in numbers. Join other accredited investors and get first glance at investment opportunities in today's leading start-ups. Hear what Ontario Angels have to say about giving back.". Video available at: http://www.youtube.com/watch?v=oydiZDTGdQE&list=WLhOoWTxZ2D8TNZpahXXKKl_ZaPAZe8j-F&feature=mh_lolzFor further information:
NAO-Ontario Media Contact
Jeffrey Steiner, NAO-O President & Executive Director
(T: 416-628-1458 ext. 206; E: firstname.lastname@example.org)