(MENAFN) Kitchener-based Communitech is set to receive a USD9.7 million five-year-grant from the federal government, which will be utilized to help new mid-size businesses to launch and expand, CBC reported.
The grant will be handled to establish programs that will be available to new businesses from Wilfrid Laurier University's Launchpad, the University of Waterloo's Velocity program and the Accelerator Centre.
One of the new programs includes purchasing workplaces in cities like New York and San Francisco, so new businesses have a place to expand and operate within international markets.
"It's absolutely critical for this region to continue to grow companies. We need that next group of companies that will be the next BlackBerrys and OpenTexts," the vice president of small and mid-size enterprise companies at Communitech said.
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