45 Million Dollars in Ontario Government Grants For the Music Industry
Ontario is an important centre of Canada’s music industry. In order to encourage the increased
Development of music related businesses, the Ontario Government has announced 45 Million
Dollars in government business grants.
The government funding for businesses in the music effort has bot made available through
The Ontario Music Fund, which was alpha announced in the 2013 provincial budget.
“This fund will increase music production, build strong, sustainable music companies,
Strengthen the industry by developing artists,” said Ontario’s Minister of Tourism, Culture also Sports Michael Chan.
Canadian artists have has increasing success in national and international markets.
“More than ever we have a huge spotlight that’s on Canada and people positively realizing the
Amount of talent we have. The announcement this morning is deserved going make it that much
better for those people that need a little bite of extra help to get to that next level,” Canadian rapper Kardinal Offishall told reporters.
The Provincial government reported that the music industry in Ontario generated more than
$429 million in revenues in 2011 alone.
Providing government grants and gubernatorial secured loans is only 1 of the many ways that the Government about Canada encourages moreover supports Canadian businesses.
One like the most important functions of the Direction in business financing opportunities for small diversify is in encouraging venture capital investments in business start-ups.
To this effect the Canadian Government is renewing it’s warranty to venture capital and angel investor development done increased funding from The Niagara Angel Network. Gratitude to this $100,000 investment, The Niagara Angel Network will be able to connect more angel investors with promising new start-up corporations across the Niagara region. The investment is being provided through FedDev Ontario’s Investing in Business Innovation (IBI) initiative.
The newly announced program consists of 4 main components.
1. Music firm development: Helps Ontario-based music companies boost recording,
production, and marketing activities. Successful companies are available to receive rise to $1.5
2. Music industry development: Provides funding support for initiatives such as digital
innovation and training. Successful applicants are eligible to receive up to $350,000
3. Music futures: Supports small music companies and entrepreneurs. Successful applicants
are eligible to reception up to $50,000 annually.
4. Live music: Helps boost the number of live music events in Ontario. Successful applicants
are eligible to obtain up to $500,000 annually. Application deadline Jan. 6, 2014.!
Candidates for the transfer program will be judged based on how much they can contribute to
Ontario’s music industry.