To support the growth of Angel Investment in Southern Ontario, FedDev offers funding for stimulating and leveraging private sector investments to serve the development and commercialization challenges of start-up businesses. The funding will provide support to commercialize new products, practices or processes of start-up businesses to obtain angel or venture capital investments and then to foster further cycles of development. Eligible activities include: capital and employee costs for growth innovation. Such projects are: marketing studies, proof of concept, engineering design, technology development, piloting and demonstration and problem solving.
- Amount: up to $1M with 33% contribution from government based on a term sheet from an Angel or VC.
- Timeline: 4 year program. All activities must be completed by March 31, 2014. This program is no longer taking applications but will reopen late Q4 2013.
- Eligibility: Registered start-up businesses undertaking commercialization activities in Southern Ontario with term sheet from an Angel or VC investor and under 50 employees.
Top Investing in Business Innovation (IBI) Resources:
- IBI Overview Blog: An overview of the purpose of this government funding Canada late-stage commercialization support program.
- IBI Eligibility Criteria Blog: Investing in Business Innovation government grants for small business eligibility including timelines/completion date.
- IBI Update: See who has recently received IBI funding and learn more about your business’ opportunity to receive Canadian government funding.