Sustainable Development Technology Canada (SDTC)
has announced another round of funding is available in its program to invest in cleantech development and demonstration. As Kevin Downing of MaRS
notes,
SDTC's Clean Tech program has been one of the few sources of funding for startups in the sector, filling a
wide gap in funding for companies at the development and demonstration stage.
"SDTC is helping companies commercialize their new technologies,
creating jobs and increasing the competitiveness and efficiency of the
Canadian economy" said SDTC President and CEO Vicky J. Sharpe in the announcement. Pointing to the previous 17 rounds of funding, she noted, "SDTC
investment of $478 million, combined with an active portfolio support
strategy, has catalyzed an additional $2.4 billion in follow-on funding into
some of the most promising high-growth Canadian companies." Currently 195 companies have received investment through the program, including more than 30 in the Greater Toronto Area. Sharpe went on to say that investment in sustainable technologies are pivotal to the country's economic future, and will make our traditional resource and manufacturing industries continue to be viable.
Writer: Edward Keenan
Sources: Patrice Breton
Director of Communications, Sustainable Development Technology Canada; Kevin Downing, MaRS