Startups cash in on IAF fund

Eight promising Ontario tech ventures will each receive up to $500,000 from the Investment Accelerator Fund, a $29 million provincial seed fund co-managed by non-profit innovation hub MaRS Discovery District and Ontario Centres of Excellence. All startups, the eight will use the equity investment for research, field testing and patent and promotion costs. Wendy Robertson, co-founder and CEO of Toronto-based Kneebone Inc., says the marketing software company will use its cut of the funding “to build leadership and scale in our fast-growing category.” The seven others funded – C2C Link (Hamilton), IPeak Networks (Ottawa) and (in Toronto) Echologics, Nulogy, Skymeter, Sysomos and Regen Energy – span a range of cleantech sectors from water and energy to software and hardware solutions.

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