MONTREAL, Jan. 17, 2013 /CNW Telbec/ - The Business Development Bank of Canada (BDC) announced it is sponsoring the OSMO Foundation by providing financial support for the Notman House, a collaborative hub in which Montreal entrepreneurs building high-tech companies can share knowledge, exchange ideas and build collaborative networks. The sponsorship agreement provides for an initial lump sum commitment of $325,000, plus an additional $100,000 over four years ("Supporter Level").
"The vibrancy of a community is in large part dependent on the success of its entrepreneurs at home and abroad," says Jean-René Halde, President and CEO, Business Development of Canada. "We have a unique opportunity today to support and to significantly impact the Canadian venture capital and innovation ecosystems. We're delighted to support Notman House as it is perfectly in line with our organizational purpose of supporting Canadian entrepreneurs, including those in the venture capital arena."
Support for Notman House is part of broader strategy where during the past two years BDC has brought together partners and players within the Canadian technology ecosystem to garner financial and non-financial support for technology entrepreneurs.
"BDC's early recognition of the strategic importance of Notman House is a strong endorsement of what we're trying to develop here in Montreal, a best in class globally connected entrepreneurial community and digital/ tech culture," said John Stokes, Board Member, OSMO Foundation.
The Notman House is scheduled to open during Summer 2013. For more information, visit www.notman.org
About OSMO Foundation
The OSMO Foundation, a non-profit entity, was established in July 2009 to fund, by way of grants, grassroots initiatives that support community building and networking. The Foundation was created by investors, technology and media executives and the community itself to support the growth and development of Montreal's next generation of technology entrepreneurs.
Canada's business development bank, BDC puts entrepreneurs first. With almost 2,000 employees and more than 100 business centres across the country, BDC offers financing, subordinate financing, venture capital, securitization and consulting services to about 28,000 small and medium-sized companies. Their success is vital to Canada's economic prosperity. www.bdc.ca
SOURCE: BUSINESS DEVELOPMENT BANK OF CANADA
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