205
MOBILIZING ANGEL CAPITAL IN SOUTHERN ONTARIO
Capital is the lifeblood of business, especially small business, where it provides growing firms with the ability to scale. Without access to capital during innovation’s crucial early stages, many creative leaders will struggle to bring their ideas to life; the potential economic and societal impacts of their innovations may not be realized. Targeted government support for angel activity can help mobilize capital and resources for entrepreneurs, amplifying the impact of business incubator and accelerator programming and non-dilutive grant funding. Angel activity drives job creation and regional prosperity, as evidenced by the work of Northern Ontario Angels (NOA), a NACO member organization that has channeled $664 million into local startups, creating 6,087 full time jobs. NOA is supported by FedNor, Northern Ontario’s federal regional development agency, and the Northern Ontario Heritage Fund Corporation (NOHFC), an agency of the Government of Ontario.
2022 ANNUAL REPORT ON ANGEL INVESTING IN CANADA
Tobi Solebo Program Coordinator, NACO
Powered by FlippingBook