21

Jan

N100 Offers Startups the Chance to Compete for $100,000

N100 Offers Startups the Chance to Compete for $100,000 in Early-Stage Investment

The annual $100,000 N100 Startup Competition is entering its third year once again challenging entrepreneurs to compete for real equity.

“What distinguishes our startup competition from others is that the $100,000 is an investment, not a prize,” said Wendy Curtis, Executive Director of Northumberland CFDC, the organization running N100. “We gear the competition towards the pre-Angel stage when entrepreneurs are working to finalize a prototype or some other major milestone and are on the cusp of attracting significant investor interest.”

The winner of the inaugural year of N100 was Unified Computer Intelligence Corporation (UCIC) makers of the Ubi (the ubiquitous computer) and the winner of N100 2014 was Linkitz with their wearable electronic toy that teaches children how to code. UCIC and Linkitz each secured additional investment (led by Maple Leaf Angels and SOSVentures respectively) and both appeared at the International Consumer Electronics Show in Las Vegas, Nevada this year.

“N100 was invaluable in helping us hone our business plan, our pitch, and ultimately get our product to market faster,” said Leor Grebler, CEO of UCIC.

“We are delighted to have won N100 2014,” added Lyssa Neel, CEO of Linkitz. “The advice and support we have received from the Northumberland CFDC and our advisor there, John Hayden, has been nothing short of amazing.”

Competitive down-selection for N100 unfolds though three rounds from March to July, 2015: The Pitch, Business Planning and Negotiation. Along the way, finalists get access to free entrepreneurial training and support including N100 Pitch School and board room simulations run by Spark Centre, Northumberland’s Regional Innovation Centre. N100 is also an attraction strategy designed to bring next generation entrepreneurial impact to Northumberland—located just over an hour East of Toronto.

The N100 application process is now automated on PitchBurner and a corporate sponsorship from MathWorks will provide N100 finalists with the benefit of a free one-year software license for MatLab and Simulink with full technical support.

The deadline for applications is March 8, 2015. N100 Pitch Night will be held at the Capitol Theatre on May 5, 2015 and the winner will be announced in July.

For more information and to apply, visit N100 online at www.n100.ca.

About N100: N100 is an annual startup competition held in Northumberland (one hour East of Toronto). From March to July, startups compete over three successive rounds for a $100,000 convertible note. For more go to www.n100.ca.

About Northumberland CFDC: Northumberland Community Futures Development Corporation invests in entrepreneurship and innovation as a pathway to prosperity, job creation and economic development in Northumberland, Ontario, Canada. The organization receives core operational funding from FedDev Ontario through the Community Futures Program. For more information, please visit Northumberland CFDC online at www.financingandstrategy.com.

About Spark Centre: Spark Commercialization and Innovation Centre is one of seventeen not-for-profit Regional Innovation Centres (RICs) that form part of the Ontario Network of Entrepreneurs (ONE). The centre works to improve competitiveness and visibility of Durham Region and Northumberland County as a world-class innovation cluster. For more information on Spark Centre, please visit www.sparkcentre.org.

Contact:
John Hayden, Manager – N100
Northumberland CFDC
905-372-8315 x224
john.hayden@northumberlandcfdc.ca