By Joseph Czikk, Betakit
The Northumberland CFDC, a business development corporation dedicated to providing financing, strategy, and a comprehensive ecosystem for entrepreneurs, is bringing back to N100 Startup Competition. The winner takes home a cool $100,000.
Northumberland county is located one hour east of Toronto and part of the Northumberland CFDC’s mission is to establish a stronger startup culture in the area. Thus, while it calls the N100 a “global” startup competition, ultimately applicants are expected to establish a presence in Northumberland to qualify for the $100,000 investment.
Last year marked the first N100 competition, with the Unified Computer Intelligence Corporation taking the prize for it ubiquitous computing device, dubbed “the Ubi.” 34 companies applied in total.
“N100 helps accelerate early-stage companies in Ontario by providing risk capital to fund significant milestones in their development—such as prototyping—and ready them for angel round follow-on investment,” said Wendy Curtis of the Northumberland Community Futures Development Corporation. “In addition, N100 is an entrepreneurial attraction and development strategy designed to build a nucleus of next generation companies.”
To apply go to: http://n100.ca/
VentureStart is a new program that enhances the success rate of start-up enterprises by providing essential business training for technology entrepreneurs. Plus, your start-up enterprise has the opportunity to receive matching seed financing of up to $30,000.
Who can enroll
To be eligible for VentureStart, you must be a university or college graduate of a Science, Technology, Engineering or Mathematics (STEM) program, and intend to start your business in Southern Ontario.
To qualify for seed financing, you must successfully complete the business training program and Critical Factor Assessment, and be able to provide matching funds.
Low Cost of Entry for Entrepreneurs. Since RIC Centre covers half the cost of the skills development training phase, the enrollment cost for eligible entrepreneurs is only $1,700. There are no other costs for you to continue in the program, other than the requirement of matching funds for any seed financing you will ultimately apply for, up to a maximum of $30,000.
Phase One: Business Skills Development
Online on-demand business and management skills training.*
Best practices training supplemented by one-on-one coaching.
Foundation for a business development plan for your new venture.
Critical Factor Assessment determines readiness for Phase Two and funding.
Phase Two: Business Launch Support
Individual mentoring by experienced Entrepreneurs in Residence.
Access to key services for launching and operating a new business.
Opportunity to qualify for up to $30,000 of matching seed financing.
To find out more about this program, please contact Spark Centre.