FedDev Southern Ontario Investing in Business Innovation (IBI) Program
IBI assists start-up businesses to accelerate the commercialization of new products, processes, and practices by increasing, stimulating and leveraging private sector investment from angels and venture capitalists.
The angel investor must be an accredited investor and a member of an angel investor network in southern Ontario registered with the Network of Angel Organizations – Ontario (NAOO) or another reputable industry association.
The members of York Angel Investors meet the IBI definition, and eligible start-up businesses that receive their funding may be eligible for the IBI program.
To be eligible for IBI funding, the angel-invested business must meet the following criteria:
- be small or medium-size (SME) start-up;
- have less than 50 employees located in southern Ontario;
- be registered in Canada;
- be planning to undertake commercialization activities in southern Ontario; and
- have a signed draft term sheet conditional on IBI funding as proof of the funding commitment from the angels.
For more information, go to the FedDev website: www.feddevontario.gc.ca