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45 Million Dollars In Ontario Government Grants For The Music Industry
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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 industry has been made available through The Ontario Music Fund, which was first 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 and
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 really realizing the
Amount of talent we have. The announcement this morning is just going make it that much
better for those people that need a little bit 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 government secured loans is only 1 of the many ways that the Government of Canada encourages and supports Canadian businesses.
One of the most important functions of the Government in business financing opportunities for small business is in encouraging venture capital investments in business start-ups.
To this effect the Canadian Government is renewing it’s commitment to venture capital and angel investor development through increased funding of The Niagara Angel Network. Thanks to this $100,000 investment, The Niagara Angel Network will be able to connect more angel investors with promising new start-up businesses 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 company development: Helps Ontario-based music companies boost recording,
production, and marketing activities. Successful companies are eligible to receive up 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 receive up to $50,000 annually.
4. Live music: Helps boost the number of live music events in Ontario. Successful applicants
are eligible to receive up to $500,000 annually. Application deadline Jan. 6, 2014.!
Candidates for the grant program will be judged based on how much they can contribute to
Ontario's music industry.
For more information on this and other Government Grants in canada for Business Please
contact the Canadian Grants Business Center at www.canadiangrantsbusinesscenter.com.
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