Mr. Speaker, strong, successful businesses are the backbone of our economy. Canada's economic action plan is helping businesses by providing the tools necessary to become innovative, strong and prosperous.
That is why our government is investing $75 million in the Tandem Expansion Fund. This investment announced today will support the growth and expansion of tech companies by helping them pursue new markets and expand production capacity.
The Tandem Expansion Fund will benefit 20 to 40 Canadian firms providing late-stage venture capital and helping to commercialize new products. With this fund, companies will be able to grow and expand and create jobs for Canadians.
Our government remains committed to implementing our two-year economic action plan, making sure Canada emerges stronger than ever and well-positioned to lead in the global economy.