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

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Presentation transcript:

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

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

AGENDA PAGE 3

AGENDA PAGE 4

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

SMARTSTART SEED FUND Overview June 20, 2014

CLA/OCEA ACTIVITIES CLA/ OCEA $ OutreachEducationAdviceSpaceLinkages

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

ELIGIBILITY Youth 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

INVESTMENT TARGET PAGE 10 SmartStart MR2MR3

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

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

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

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

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

PAGE 16

THANK YOU June 20, 2014

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