Previously, StartupSource has covered the Government of Canada’s Global Skills Strategy, aimed at streamlining and accelerating access to global talent. Now the Ontario provincial government is following the federal government’s lead by helping accelerate the development of high-growth Canadian companies.
The Government of Ontario launched its Scale-Up Vouchers program in late April. This program is aimed at increasing the global competitiveness of home-grown Canadian technology and innovation-based companies. The program targets small and medium-sized enterprises that demonstrate high-growth and strong potential.
Successful applicants will receive access to experienced growth coaches who will help lead companies and firms in developing and executing “growth plans.” The provincial government is also offering vouchers valued at anywhere between $150,000 to $250,000 to help offset expenses attributable to global growth and expansion to all successful applicants. Some examples of expenses that the voucher is intended to cover include acquiring and developing talent, providing access to new markets and protecting intellectual property.