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CLA/OCEA INAUGURAL MEETING Tannery Event Centre – Kitchener, ON June 20, 2014.

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Presentation on theme: "CLA/OCEA INAUGURAL MEETING Tannery Event Centre – Kitchener, ON June 20, 2014."— Presentation transcript:

1 CLA/OCEA INAUGURAL MEETING Tannery Event Centre – Kitchener, ON June 20, 2014

2 CLA/OCEA INAUGURAL MEETING Goals and Objectives: Networking Best practices Program updates PAGE 2



5 INTRODUCTIONS CLAs: University of Windsor E3 London Kitchener-Waterloo University of Toronto Ryerson University OCADU Centennial College Queens University Capital Entrepreneurs Ottawa OCEAs: Conestoga College Greater Sudbury Seneca College Lambton College Georgian College University of Guelph Humber College Brock University George Brown College Northern College St. Clair College PAGE 5

6 SMARTSTART SEED FUND Overview June 20, 2014

7 CLA/OCEA ACTIVITIES CLA/ OCEA $ OutreachEducationAdviceSpaceLinkages

8 SMARTSTART AT A GLANCE Up to $30,000 grant with 1:1 matching $5,000 for entrepreneurship skills training Targeted to youth 18-29 Not restricted to academic-based IP Approx. 250 investments in 2 years Rolling application process Reliance on regional screening partners

9 ELIGIBILITY Youth 18-29 yrs., must hold equity and key role Matching funds (1:1), anything but gov’t of Ontario Must be incorporated Targeting validation stage companies May have $250k max. revenue and/or investment FedDev SEB funded companies many not apply 9


11 APPLICATION Customer Problem Solution Value Prop Revenue/ Pricing Channels Demand Creation Competition Activities & Budget Team

12 SCREENING AND EVALUATION Roles and Responsibilities of Partners: RICS/CLAs/OCEAs help cultivate opportunities Applications must be endorsed by partners All funding inquiries to be referred to partners Advisor to provide endorsement and evaluation Application package sent to 2 external reviewers 12

13 ADMINISTRATION Funding Agreements and Payments: Funding agreements automatically generated online Electronic signing from all parties Payment begins processing immediately upon approval Payment provided directly to the start-up via EFT 13

14 CURRENT STATUS Fund opened application intake May 15th First applications currently under review Partnership signed with Futurpreneur Application to FedDev to double the fund

15 SUMMARY Guiding Principles: Fund the right deals Move at the speed of business Leverage our regional partners Transparency and accountability 15

16 PAGE 16

17 THANK YOU June 20, 2014

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