Canada’s six regional development agencies will direct federal COVID-19 relief funding to small and mid-sized companies and sectors that fall between the cracks of other relief programs.
Topic: Canada Emergency Business Account
The federal government is providing $1.2 billion in emergency funding to help startups and rural businesses survive the COVID-19 crisis. Participants in Canada’s innovation sector say government could also help by providing tax incentives, matching funding and loans for angel investment.
Some of Canada’s 12,000 Canadian-owned small tech and innovative companies have already folded while others are being bought at fire-sale prices by large U.S. companies. Unless the government takes stronger measures, things will get worse, business leaders say.