On Monday, Michael Chan, Minister for Tourism, Culture and Sports announced the launch of the $45-million Ontario Music Fund at the Revolution Recording studio in Toronto. The music fund will provide financial backing to Ontarians involved in all aspects of the music industry from promoters to label executives. The fund will be administered through the Ontario Media Development Corp. and the funding goal is to boost the province’s economy. The fund will support record labels, industry associations, music start-ups and promoters for the next three years. Applications are immediately open for record labels and industry associations, but promoters and start-ups will have to wait till Nov. 7.