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Federal funding boosts local business incubator

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Marshall Ring, CEO of the Manitoba Technology Accelerator.

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Marshall Ring, CEO of the Manitoba Technology Accelerator. Photo Store

A Winnipeg business incubator is getting more than $1 million in federal funding over the next five years to help local start-up companies evolve into commercial successes.

The not-for-profit Manitoba Technology Accelerator (MTA) plans to use the funding from the two-year-old Canada Accelerator and Incubator Program to hire two more full-time employees, expand its service offering, and help more companies.

MTA CEO Marshall Ring said the incubator currently has the capacity to help 10 startup companies at a time, and it wants to add between two to five more over the next six months.

"We are going to grow bigger, faster, and farther," he told a news conference held today at the MTA’s Exchange District offices.

He said the companies MTA is currently helping created 90 new full-time and more than 200 new part-time jobs over the past last year.

"We are targeting to double those numbers over the next year," he said. "What we really want is for Winnipeg to be the startup capital of Canada."

Shelly Glover, Minister Responsible for Manitoba, made the funding announcement on behalf of Ed Holder, Canada’s minister of state for science and technology.

"Keep up the good work, and keep these businesses here," Glover told Ring and other MTA and industry representatives who attended the late-morning event.

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