MaRS Gives Startups A JOLT Of $30K In Seed Capital – Big Deal!
Earlier this week MaRS, that multi-million dollar building at the corner of University & College, who also provides assistance to Toronto-based startups has announced a new program called JOLT.
“The JOLT Fund LP provides program participants with seed capital while generating a market-rate return for its limited partners. Featuring representation from all areas of the MaRS community, the JOLT Fund limited partners bring to the program a broad range of experience and a singular passion: accelerating company development through a combination of capital and mentoring support.”
So in an age where similar groups such as Communitech, Invest Ottawa, and Montreal’s Founders Fuel each give out well over $100,000 to local startups, MaRS’ new JOLT program is giving out a whopping $30,000 – are you excited yet? I just dont get it, MaRS is funded by some serious players including the Ontario Government and CIBC, can they not afford to help Toronto’s startup ecosystem more than this? I guess the cost of owner a building outweighs actually doing something substantial with the FREE money they have been given. The banks got out of owning buildings years ago, guess MaRS knows something different.
Latest posts by Dave Forde (see all)
- Ariad Health Adds Two, Promotes One In Toronto - February 1, 2016
- Top 10 Most Influential Brands In Canada [Ipsos Reid] #FFWD2016 - February 1, 2016
- Brian Batenburg Heads Over To Globe And Mail - February 1, 2016