What Initiatives will the ANP Consider Supporting?
The ANP provides services, resources, and financial assistance to Angel groups in Ontario. As such, the ANP will only consider supporting the development and/or establishment of non-profit Angel groups.
What Resources will the ANP Provide to Angel Groups?
Financial assistance will be provided to help cover the operational costs associated with the establishment and development of Angel groups including the hiring of professional group managers on a full or part-time basis as needed.
In addition to the financial assistance described above, the ANP provides a number of resources to Angel groups that are selected by the Funding Assistance Committee (FAC) as eligible. These include, amongst other things, a suite of best practices, tools, templates, and guidelines for how to operate an Angel group.
What Services will the ANP Provide to Angel Groups?
The ANP provides the education and outreach services to Angel groups, potential investee companies and entrepreneurs, and members of the MRP, including:
- Angel outreach to facilitate the creation of new Angel groups, and support existing entities;
- Provide educational material for and education of Angels;
- Provide educational material for and education of entrepreneurs;
- Help coordinate syndication activities amongst Angel groups;
- Establishment of a regional Angel Investment Showcase program, in collaboration with the RINs, to showcase the best regional companies to regional Angels and potential syndication partners;
- Integration of Angel groups and activities with the Market Readiness Program and other stakeholders in the emerging-growth company community.
What Amount of Support would the ANP Provide?
The funding assistance level for a specific initiative will be evaluated on a case-by-case basis and will be awarded based on need and expected impact of an Angel group on a specific region or sector.
As the funding assistance provided under the ANP is intended to provide financial support over time and requires the recipient to continue to meet eligibility requirements, grant monies will be paid in instalments. Disbursements will be made on a quarterly basis based on the cash flow requirements of the recipient.
Grant disbursements will not be paid to recipients in advance of need.
What is the Evaluation Process?
The application process for the Angel Network Program is a two-stage process consisting of an Expression of Interest (EOI) and a more detailed Angel Group Funding Application (FA).
The EOI is used to determine if the applicant meets the qualification criteria. If approved, a formal Funding Application will be requested and assessed by the FAC to determine if the specific group is eligible for funding and, if so, to what level.
Who May Apply?
Non-profit Angel groups operating in Ontario are invited to apply to the ANP. Applicants should also meet the following criteria:
- The applicant is registered as a not-for-profit corporation under the Business Corporations Act or Canada Business Corporations Act;
- Activities of the group are predominantly in Ontario;
- The participants in the organization are/will be predominantly individuals and all individuals are Accredited Investors , as defined by the Ontario Securities Commission, and the organization has a process to ensure its participants are accredited;
- Participating investors are/will be actively engaged in investment of their personal capital;
- The participants currently/will make investment decisions on opportunities presented to the full group. Individuals do not delegate investment decisions to a third party;
- The group holds regular in-person meetings as part of its investment process;
- The group has defined processes and procedures for making investment decisions as outlined in the Angel Network Program Best Practices Manual;
- The applicant is qualified to manage an Angel group.
How to Apply?
The budget of the Angel Network Program is fully committed at this time. However, should there be enhancements or continuation of program funding, a notice will be placed here advising that we will entertain applications for funding once again. Please subscribe to our Angel Investor Blog to receive program status updates!
In addition, we can support the formation of independently funded Angel groups or networks. In particular, we hope to build on the experience gained to date in the formation of alumni and industry-sector-focused groups through 2010. Contact us at 416-581-0009 for details on how we can get you started!
Each Angel group interested in the program must complete the Angel Network Program Expression of Interest Form to be considered (see ANP Applications).
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