45 Million Dollars in Ontario Government Grants For the Music Industry
Ontario is an important centre of Canada’s music industry. In order to encourage the increased
Development regarding music related businesses, the Ontario Sovereignty has announced 45 Million
Dollars in government commerce grants.
The government funding for businesses in the music business has been made available through
The Ontario Music Fund, which was first announced in the 2013 uncultured budget.
“This fund will increase music production, build strong, sustainable euphonious companies,
Strengthen the industry by developing artists,” said Ontario’s Minister like Tourism, Culture and Sports Michael Chan.
Canadian artists acquire has increasing celebrity in domestic and international markets.
“More than perennial we have a huge spotlight that’s on Canada and people really realizing the
Amount of talent we have. The pronunciation this morning is just going make it that much
better for those people that desire a little ort of supplementary 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 individual 1 of the many ways that the Government of Canada encourages and supports Canadian businesses.
One of the most important functions of the Sovereignty 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. Recognition to this $100,000 investment, The Niagara Angel Network will be able to connect more religious investors near up-and-coming debut 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 companionship development: Helps Ontario-based music companies help recording,
production, et sequens marketing activities. Successful companies are eligible to receive up to $1.5
2. Music industry development: Provides funding support for initiatives such while digital
innovation et alii training. Successful applicants are marriageable to susceptible up to $350,000
3. Music futures: Supports small philharmonic companies and entrepreneurs. Successful applicants
are entitled 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 boost to $500,000 annually. Application deadline Jan. 6, 2014.!
Candidates for the grant program will be judged based on how much they can subsidize to
Ontario’s music industry.