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Many small businesses opting to permanently close rather than wait out pandemic shutdown

While west end Torontonians mourned Vesuvio Pizzeria & Spaghetti House last week as the neighbourhood stalwart faced closing after 63 years, its owners got a shock from Ottawa. Story

Ottawa unveils $1.2-billion in pandemic funding for startups, small business

The federal government is adding $250-million to a fund that helps small and medium-sized businesses commercialize their work as part of $1.2-billion in new pandemic support for entrepreneurs, which follows weeks of warnings from companies that they were being excluded from Ottawa’s relief packages.​ Story

Ottawa widens small business relief, looks to help with rent

Entrepreneurs say an expanded loan program and a rent-relief proposal, both announced by Ottawa Thursday, still leave many small businesses behind because of payroll restrictions and vague details about how rent burdens would be reduced. Story

Canada tightens foreign investment scrutiny, citing economic impact of COVID-19

Ottawa is tightening its foreign investment rules, scrutinizing direct investments in Canadian companies related to public health or critical supply chains during the pandemic, as well as any investment by state-owned companies or by investors with close ties to foreign governments. Story

As pandemic wreaks economic havoc, two Toronto startups see a spike in demand – and raise funding

Two Toronto startups that have seen demand spike for their digital offerings during the pandemic have raised millions of dollars in venture capital, a sign private investors are keen to fund business models that look compelling in a post-COVID-19 world. Story

Medicom to produce N95 masks at facility near Montreal with $4-million in aid from Quebec

Canadian medical supplies manufacturer AMD Medicom Inc. said Monday it will establish its first Canadian facility to make N95 respirator masks for the domestic market near its Montreal-area head office by July with financial aid from the Quebec government. Story

Airbnb rival Sonder Holdings closing in on nine-figure venture funding

One of the most highly valued startups to launch from Canada in the past decade, travel accommodation provider Sonder Holdings Inc., is closing in on a nine-figure financing investors believe will help it ride out the economic impact of the pandemic. Story

OneEleven, tech accelerator backed by OMERS, will shut down for good due to financial hit from coronavirus

OneEleven, the Toronto-based technology accelerator backed by the Ontario Municipal Employees’ Retirement System pension fund, will permanently shut down in May because of financial strain from the novel coronavirus. Story