SMARTSTART SEED FUND PROGRAM UPDATE December 2015

PAGE 2 AGENDA Training Context Program Background Program Partners and Principles Program Funding Streams Program Changes Contacts Questions PAGE 2

PAGE 3 TRAINING CONTEXT The SmartStart Seed Fund Program, launched July 2014, has supported over 150 start-ups to date. Since the launch of the program, the Ontario Centres of Excellence (OCE) has been regularly monitoring and documenting areas of improvement to the program in which clarity can be provided to the applicants and our program partners. The demand for the program is significant and OCE would like to ensure the highest quality of applications are submitted to the program to be assessed through the Peer Review process. PAGE 3

PAGE 4 PROGRAM AT A GLANCE Up to $60,000 grant with 1:1 matching +$7,500 available for entrepreneurship skills training and professional advisory support Divided in to 3-streams: Youth $30K and $60K, Non-youth $30K Open to start-ups who are actively engaged at a CLA/OCEA/RIC Not restricted to academic-based IP Application submission deadlines posted on-line Heavy reliance on regional screening partners Based on lean startup principles PAGE 4

PAGE 5 PROGRAM PARTNERS Seed Fund is a key part of CLA/RIC/OCEA: Seed fund is integral component of CLA/RIC/OCEA activities CLA RIC OCEA $ Outreach Edu./ Training (1-on-many) Advice (1-on-1) SpaceLinkages PAGE 5

PAGE 6 PROGRAM PRINCIPLES Approx. 312 investments/4 years (107 committed for FY ) Guiding Principles: Fund the right deals (client focused) Move at the speed of business Leverage our partners to identify high quality deals Transparency and accountability PAGE 6

PAGE 7 PROGRAM CHANGES: PROGRAM INTAKE The application initiation process will be closed until early December as OCE implements the new guidelines, application form and AccessOCE interface. Eligible start-ups that currently have applications “In Development” will be notified of the new process and program guideline updates. OCE will work with them directly to be considered for the January 12, 2016 application submission deadline. After the January 12, 2016 intake, start-ups applying to the SmartStart Seed Fund that have been declined for funding two or more times will no longer be eligible to submit an application to the program.

PAGE 8 PROGRAM CHANGES: ELIGIBILITY QUESTIONNAIRE Applicants will now complete an Eligibility Questionnaire as a way of initiating their application Applicants must initiate applications at least 7 days before the application deadline Applicants may request a BD by sending an to OCE’s Application Support Team (AST)

PAGE 9 PROGRAM CHANGES: ELIGIBILITY QUESTIONNAIRE Application Initiation: Step-by-step Eligibility Questionnaire completed by potential applicant Eligibility Questionnaire reviewed by OCE’s Application Support Team (AST) NOTE: This process takes 2 business days If applicant meets eligibility criteria, AST will initiate an application and the applicant will receive an notification from AccessOCE Applicant logs into AccessOCE and begins completing the application Applicant submits application by the application submission deadline

PAGE 10 PROGRAM CHANGES: START-UP ENDORSEMENT Start-ups can receive only one award of the lifetime of the New Start-up Endorsements are required for each application Eligible start-ups must be actively engaged for a minimum of 4 months with a CLA/OCEA/RIC Start-up Endorsements will require a signature from a signing officer of the endorsing CLA/OCEA or RIC

PAGE 11 PROGRAM CHANGES: ADVISOR ASSESSMENT OCE will continue the practise of having a representative of the CLA/OCEA/RIC, the Advisor as the third reviewer of the application (2:OCE College of Reviewers and 1:Advisor) The Advisor is required to provide a formal assessment of the application (i.e. OCE will no longer outsource the third review to the OCE College of Reviewers) If the Advisor has not completed their review by the assessment deadline, the application will not be considered for funding by OCE in that funding round

PAGE 12 PROGRAM CHANGES: MATCHING CASH CONTRIBUTIONS Applicants are required to match OCE’s cash contribution on a 1:1 basis If the application is approved for funding: proof of matching cash contribution, in the form of a current bank statement, must be submitted to OCE Finance prior to project activation

PAGE 13 CONTACTS For technical or general inquiries regarding the review process, please contact a member of the Review and Results Coordination Team. Todd Allen and Tim Luk, Program Coordinators For further program specific inquiries regarding the Entrepreneurial stream, please contact: Jennifer Moles, Program Manager (416) x1023, (available until December 4) Sam Saad, Program Manager (416) x1097, Laura Yu, Business Development Manager, Academic Entrepreneurship (416) x 1015,

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