Toronto-based non-profit The Next 36 will be able to help science and technology program graduates launch 30 new companies in southern Ontario thanks to a provincial funding effort announced Monday.
Though the province’s Scientists and Engineers in Business initiative, The Next 36 will offer business training and seed financing for up to 10 graduates each year for the next three years. Entrepreneurs will also be paired up with a mentor and offered workshops to assist them in creating a startup, the government said.
The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) contribution will total $787,500.
The Next 36 is based on a course taught by volunteer professor and serial entrepreneur Reza Satchu at the University of Toronto. It originally launched in 2010.
Related:
Big names put money into Waterloo’s new $30 million incubator
Federal budget diverts research funding to commercial innovation
