Recently, Ontario announced the first recipients of the Youth
Investment Accelerator Fund Program (the
“Program”). The Program, which mirrors the Investment Accelerator Fund, was launched in
2013 by the Province of Ontario with the goal of providing young
entrepreneurs with a boost when launching their ventures. The
Program invests up to $250,000 per innovative technology-based
start-up with a majority of founders under age 30.
Providing human resources, sales and product supports to assist
with the successful commercialization of investee companies’
technologies are additional goals of the Program. This will be done
through leveraging of the Program’s current portfolio, which
boasts 76 companies which have received investment, raising over
$220 million in follow-on financing.
As well, existing start-up accelerators, incubators and regional
innovation centres in Ontario will work with the Program in order
to support investee companies.
The first four companies receiving investments are:
Greengage Mobile: a mobile app
that helps organizations engage and reward individuals for health,
green and community actions. The Greengage platform also includes a
web-based management and analytics platform that provides a manager
the ability to monitor, track and evaluate program
PUSH: a fitness tracking
device that measures strength. The device is placed on the arm and
communicates with the user’s mobile device on the PUSH App,
transmitting movement feedback to the user. PUSH allows users to
customize workouts, monitor performance and review progress;
Rubikloud: a platform used to
solve the business problems of customers, connecting multiple
sources of data from inside and outside of the organization into a
single system to be accessed in real-time with the goal of saving
time, increasing revenue and delivering simple technology solutions
to customers; and
SoapBox: an innovation
management tool that helps companies maximize engagement through
ideas. It provides employees with a platform to submit, vote and
receive comments on those ideas and aids in the screening,
evaluation and execution of new ideas.
Eligibility for the Program and a link to the application can be
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Under the Income Tax Act, the Employment Insurance Act, and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions or GST.
Under the Income Tax Act, the Employment Insurance Act, the Canada Pension Plan Act and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions.
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