FedNor is making it a little easier to help attract private sector investments for Northern Ontario entrepreneurs. It’s injecting cash into Northern Ontario Angels so that it can grow its branches in the north including its chapters in North Bay and Sudbury. The FedNor grant amounts to $1.26 million spread over three years. Northern Ontario Angels is a non-profit agency that’s designed to help the north’s entrepreneurs make investment connections.
The money allows NOA to offer coaching, networking and match-making as future business people get themselves investment-ready. NOA will also offer assessments and seminars because of the FedNor grant. Marc Serre, the Nickel Belt MP, was part of the funding announcement. He says this is another example of the federal government recognizing the needs of businesses in the north and helping entrepreneurs grow their enterprises. Serre says the $1.26 million from FedNor helps fuel the north’s economy by attracting private sector investment. The Liberal MP adds giving local businesses the tools they need helps ensure that they thrive.
Chris Winrow, the chair of Northern Ontario Angels, welcomes the grant. Winrow says it shows FedNor supports NOA’s work and that it gets results for people and businesses across Northern Ontario. NOA also has chapters Sault Ste. Marie, Timmins and Thunder Bay and is in the process of creating a new office in Kenora.