PROVINCE GIVES INNISFIL STARTUP ACCELERATOR $150,000

DMZ INNISFIL WILL USE THE FUNDS TO EXTEND SUPPORT TO ESTABLISHED BUSINESSES

A startup accelerator in Innisfil is getting a boost from the province through a $150,000 grant to spur economic growth in rural areas.

On April 29, Barrie-Innisfil MPP Andrea Khanjin made the announcement that the Town of Innisfil received $150,000 through the province's Rural Economic Development Program.

The funding will be used by DMZ Innisfil, a startup accelerator located at 8000 Yonge St.

"Today's investment is great news for Innisfil's growing startup community, as this funding will help the local DMZ with business retention and expansion," said Khanjin.

"With Innisfil's rapidly growing population, it has been a main focus for me to ensure that employment, job creation, and opportunities to help entrepreneurs succeed, both personally

and professionally, are obtainable right here in our own town without having to commute to the GTA."

DMZ Innisfil launched in May 2020 through a partnership with the DMZ at Toronto Metropolitan University (formerly known as Ryerson University).

The startup accelerator is home to 23 startup companies, 100 employees, and

has raised more than $7 million in seed money.

"Providing the local business community with retention and expansion support is key to creating the local jobs we need to grow sustainably and build a connected community," said Innisfil Mayor Lynn Dollin. "We are grateful for the province's support and commitment in

helping us support local businesses and grow our economy."

With the new funding DMZ Innisfil plans to extend support to existing businesses in Innisfil with marketing, sales, and recruitment support.

"We want to work with them to try to figure out what is limiting their growth, what do they

need," said Jelmer Stegink, DMZ Innisfil program director. "And, how can we leverage the resources we've been able to bring to our community through our partnership with the DMZ to help them grow."

For more information about DMZ Innisfil, visit https://innisfilaccelerates.ca/dmz-innisfil/