EDC announces financial solution to accelerate trade growth for Canadian businesses
by CM Staff
EDC’s Investment Matching Program has seen strong demand and has received positive feedback from businesses across the country.
Export Development Canada
OTTAWA — Export Development Canada (EDC) is announcing an expansion to its Investment Matching Program, from a temporary COVID-19 support solution to a permanent program, with expanded eligibility to support more small- to medium-sized companies that are directly or indirectly exporters. Behind this decision is EDC’s focus on making a greater impact on the international growth of more Canadian companies by partnering with private sector investors.
“Providing capital to Canadian exporters in partnership with private sector investors quickly and reliably helps these businesses accelerate their international growth plans, and take advantage of emerging opportunities,” said Carl Burlock, Executive Vice President and Chief Business Officer, EDC. “Thanks to its expanded eligibility, this capital will be accessible to a wider range of businesses at different growth stages, including those facing unique and systemic barriers, like women, Indigenous Peoples, and Black Canadians.”
Since its launch in April 2020, EDC’s Investment Matching Program has seen strong demand and has received positive feedback from businesses across the country. To date, the program has supported 82 companies that have received a total of $223 million in investments from EDC. Of the total, 35 per cent have a cleantech focus and 23 per cent are led by management teams and founders who identify as members of equity-seeking groups.
Through the Investment Matching Program, EDC works with venture capital and private equity investors to increase the capital available to Canadian businesses—by matching private sector led investments. With expedited approval in as quickly as 10 business days from receipt of all required materials, EDC can match investments of up to $5 million. To be eligible, businesses must have a minimum annual revenue of $500K and have plans to grow their direct or indirect exports.
If you’re a Canadian manufacturer and interested in finding out how EDC can help, feel free to email EDC at EDCInvMP@edc.ca or call 1-800-229-0575, weekdays between 9 a.m. and 6 p.m. ET.
“Working with EDC gave us the ability to focus on our key business priorities and execute our much-anticipated global Microfactory expansion plans. The responsiveness and expertise of their team is unparalleled as they always strive to be better than the status quo. We’re looking forward to continuing our partnership because of their aligned commitment to making a social impact and the support in our vision to redefine the term waste to resource. Thank you to the EDC team for being so approachable and collaborative.” said Felix Böck, CEO and Founder of ChopValue, Vancouver, British Columbia.
