NEXT Canada programs to support 100 high-potential start-ups

Up to 100 start-ups in Southern Ontario will be able to access seed funding under NEXT Canada’s innovation and entrepreneurship programs. Entrepreneurs can get up to $30,000 each in matching funding through a $3.6 million investment by the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) in NEXT Canada, a not-for-profit mentoring, training and funding organization for start-ups. The funds are being made available under the Investing in Business Innovation Initiative and will leverage $3 million in private funding. Up to 450 permanent full-time jobs are expected to be generated through the funding that has a full project cost of up to $6.6 million. Aside from helping young entrepreneurs launch their start-ups, the funding will also help existing companies scale-up. NEXT AI is one of the programs of NEXT Canada, along with NEXT Founders and NEXT 36.