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Angel groups, clubs, networks and organizations must be registered with NAO-Ontario or another reputable industry association, such as NACO, to be eligible to apply for matching funds from the FedDev Ontario Investing in Business Innovation Program.
To begin the registration process, please fill out this form.
You may fax, scan & email/upload, or mail to us your group or club's signed charter.
Background
On October 15th, FedDev Ontario, an agency of the Government of Canada, announced the Investing in Business Innovation program. According to FedDev Ontario:
Investing in Business Innovation provides funding to boost private sector investment in start-up businesses to accelerate the development of new products, processes and practices and bring them to market. Funding is also available for angel investor networks and their associations to attract new investment and support the growth of angel investment funds.
Up to $190 million has been allocated to this program from 2010 to 2014.
The initiative aims to:
- Accelerate the commercialization of new products, processes, and practices;
- Increase, stimulate, and leverage private sector investment; and,
- Encourage the growth of angel investment funds.
Eligible recipients under the Investing in Business Innovation are:
- Start-up businesses, defined as companies with less than 50 employees, that are located in southern Ontario, are planning to undertake commercialization activities, have a signed draft term sheet from a recognized angel or venture capital investor conditional on funding from Investing in Business Innovation, and are using mentoring, counselling, or other business support services.
- Angel investor networks located in southern Ontario planning to undertake defined investment attraction activities and that are registered with the National Angel Organization – Ontario or another reputable industry association, such as NACO.
- Not-for-profit organizations representing angel investor networks that have members located in southern Ontario.
For more information about this program please visit FedDev Ontario's website.
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