THUNDER BAY - A not-for-profit corporation that facilitates business deals between entrepreneurs and investors says more than $50 million in investment capital has flowed to Northern Ontario.
According to a press release, Northern Ontario Angels have now reached $50 million of investments for entrepreneurs in Northern Ontario.
The 139 deals completed cover the regions north of Barrie to the Manitoba border.
NOA executive director Mary Long-Irwin said investors have been particularly interested in businesses involving new technologies.
She said the money has greatly benefitted the north.
“If you came up with a great new idea and wanted some money you would have to travel to Minneapolis or Toronto to set up shop there,” Long-Irwin said.
“You don’t have to do that anymore you can stay right here in Thunder Bay.”
Long-Irwin added that many great ideas never make it to the table because of lack of funding, but investors see great potential in Northern Ontario.
(TBT News)
