TORONTO, Oct. 2, 2015 /CNW/ - Ten dynamic
Ontario startups have been
selected as the first participants in a first-to-market incubator
for investment-ready companies seeking an international presence in
China.
The companies will become part of the China Angels Mentorship
Program (CAMP), which matches Ontario companies with investors, potential
partners and mentors in and from China, as well as a small group of Canadian
mentors who will work with them in Toronto and Beijing. The initiative is the result of a
partnership between Ontario Centres of Excellence (OCE) and the
China Canada Angels Alliance (CCAA), who are working together to
educate and prepare the companies and help shape their business
models to fit the Chinese market.
"This exciting partnership with CCAA is giving Ontario start-ups a head start to access the
thriving Chinese market," said Dr. Tom
Corr, President and CEO of OCE who will be joining Premier
Kathleen Wynne's mission to
China in November. "By working
directly with Chinese businesses and investors, we are opening up
tremendous business opportunities for these young companies that
might not have otherwise been possible. As a key innovation hub in
Ontario, OCE is pleased to be able
to support growth in Ontario's
trade and investment relationship with China"
The 10 companies selected for CAMP are: ApplyBoard, Beagle,
Clausehound, Colibri Technologies, Eve Medical, KA Imaging,
Reforges, Raise Your Flag, Story Values and Travelabulous.
The companies will spend the next year building relationships in
Ontario and China as they learn how to adapt to the
business realities of the Chinese market. As part of this unique
mentorship experience, the companies will travel to China for two weeks in November to work with
their Chinese investors and Chinese and Canadian mentors, giving
them an unparalleled opportunity to immerse themselves in the
Chinese market and business culture. The startups' participation in
CAMP is subject to CCAA completing satisfactory due diligence and
negotiating final documentation.
"I want to congratulate these 10 amazing Ontario companies on their admission into this
great new initiative. By making valuable connections with investors
and mentors, they will be exposed to additional opportunities to
grow their companies in the lucrative Chinese market while creating
good jobs in Ontario," said
Reza Moridi, Minister of Research
and Innovation and Minister of Training, Colleges and
Universities.
Mr. Zhishuo (Peter) Liu, Founder
and President of CCAA, said from Beijing that "CAMP provides Ontario startups a unique opportunity to
understand Chinese culture and enter the Chinese market in an
intelligent way. We view CAMP as a platform for people - one which
gathers the best mentors, the best entrepreneurs, and the best
supporters. At the end of the day, it is always people who make the
difference."
About Ontario Centres of Excellence (OCE) Inc.
(www.oce-ontario.org)
Ontario Centres of Excellence (OCE) drives the commercialization
of cutting-edge research to build the economy of tomorrow and
secure Ontario's global
competitiveness. OCE fosters the training and development of the
next generation of innovators and entrepreneurs and is a key
partner with Ontario's industry,
universities, colleges, research hospitals, domestic and foreign
investors, and government ministries. A champion of leading-edge
technologies, best practices, innovation, entrepreneurship and
research, OCE invests in such areas as advanced health, information
and communications technology, digital media, advanced materials
and manufacturing, agri-food, aerospace, transportation, energy,
and the environment including water and mining. OCE is a key
partner in delivering Ontario's
Innovation Agenda as a member of the province's Ontario Network of
Entrepreneurs (ONE), which helps Ontario-based entrepreneurs and industry
rapidly grow their company and create jobs. Learn more at
www.onebusiness.ca.
About China Canada Angels Alliance (CCAA) Ltd.
(www.cc-angels.com)
China Canada Angels Alliance Ltd., CCAA, registered in
Toronto 2014, is a Canadian
not-for-profit angel group being certificated as corporate members
of Network of Angel Organizations-Ontario (NAO-O) and National
Angel Capital Organization (NACO). CCAA is devoted to building
cross-border eco-system for early-stage innovative companies
between China and Canada through co-investments, value-added
mentorship and connections to overseas channels and resources. As
of April 2015, CCAA represents 28
prominent and resourceful angels investors mostly from China and 11 private institutions/funds from
China which connecting to 150
mentors from top 40 mobile/internet Chinese companies as well as
other sectors in ICT, UAV, AI, Life Science, Cleantech, etc. CCAA
investment size ranges from $50,000 to $8
million per deal. CCAA investors have a successful track
record in China with nine investee
companies at more than 100 times the returns over the past seven
years. CCAA is dually operated in Canada (Toronto) and China (Beijing) to accelerate the communication and
decision making and will syndicate with Silicon Valley partners
when needed. Learn more at www.cc-angels.com.
SOURCE Ontario Centres of Excellence Inc.