CMF and Canadian Trade Commissioner Service collaborate on accelerators
London, UK, September 4, 2014 - The Canada Media Fund (CMF) has entered into an agreement with the Canadian Trade Commissioner Service (TCS) to further support digital media productions funded through the CMF’s Experimental Stream by providing access to the TCS’s Canadian Technology Accelerator program (CTA). This agreement will allow eligible projects to achieve greater exposure, raise venture funding, access mentoring and develop new business opportunities.
This announcement coincides with the launch of a CTA program in the United Kingdom while the Honourable Ed Fast, Minister of International Trade was leading a trade mission to the country.
The Canadian Trade Commissioner Service manages the Canadian Technology Accelerators (CTA) in New York, San Francisco & Silicon Valley, Boston, Denver and Philadelphia, all global clusters for technology and entrepreneurship, and has now been expanded to London, UK. This initiative provides innovative Canadian companies in information and communication technology, digital and social media, gaming, clean technologies, and life sciences with access to unique resources and contacts that can help their international growth.
“The Canadian Technology Accelerator program is part of our effort under Canada’s Global Markets Action Plan to support our innovative small and medium-sized enterprises as they grow and succeed by exposing them to new partners and investors. The collaboration with the Canada Media Fund will ensure more SMEs can participate,” said Minister Fast.
“The CMF is continuing to build links with the investment sector and business accelerators to provide CMF-funded projects with access to additional capital and expertise. We are delighted to be working with the Canadian Trade Commissioner Service to provide access to its network of accelerators in key markets outside of Canada for projects funded through our Experimental Stream” says Valerie Creighton, President and CEO. “This promises to be another milestone in working with accelerators and helping our industry remain competitive in today’s global digital economy.”
The TCS’s Canadian Technology Accelerator Initiative
The CTA provides innovative Canadian technology companies with access to entrepreneurial resources and global business opportunities in key global markets. CTA programs include free office space for up to three to six months where physical offices are located within existing business accelerators. The CTAs help participants refine their business model, collect competitive intelligence, pursue key clients, access financing resources, and engage strategic partners.
Since 2009, over 300 companies have participants in CTAs with increased sales, new strategic partners, and new investment. In the past year, CTA participants reported a combined total of over $30M in capital raised. There are now 11 CTA initiatives.
CMF’s Accelerator Partnership Pilot Program
In 2013, the CMF initiated a new funding program to increase access to mentorship, markets, and capital for projects funded through its Experimental Stream. Producers who meet all program requirements are connected with potential partnering accelerators and could be eligible for a non-refundable contribution of $30,000 from the CMF. Accredited accelerators registered with this program have continued to grow, and now include CTA’s. To date, 16 companies have accessed funding through the A3P. Details on this program can be found on the CMF website
About the Canada Media Fund
The Canada Media Fund (CMF) fosters, develops, finances and promotes the production of Canadian content and applications for all audiovisual media platforms. The CMF guides Canadian content towards a competitive global environment by fostering industry innovation, rewarding success, enabling a diversity of voice and promoting access to content through public and private sector partnerships. Please visit www.cmf-fmc.ca.
The CMF’s Canadaonscreen.ca is a website designed to showcase and celebrate Canadian creative talent and content destined for all types of screens, from television productions to games, Web content and software and applications.
About the Canadian Trade Commissioner Service
Located in more than 150 cities worldwide and in cities across Canada, the Canadian Trade Commissioner Service, part of Foreign Affairs and International Trade Canada, is Canada’s most extensive network of international business professionals. The Trade Commissioner Service helps companies that are looking to export, invest abroad, attract investment or develop innovation and R & D partnerships.
For more information, please contact:
Director of Industry and Market Trends
Canada Media Fund
Office of the Honourable Ed Fast
Minister of International Trade