Investing in Business Innovation (IBI) is a program run by FedDev Ontario to “assist start-up businesses to accelerate the commercialization of new products, processes, and practices by increasing, stimulating, and leveraging private sector investment.” The program provides two types of funding that you, as an Angel investor, may qualify for:
- To assist start-up businesses in southern Ontario to commercialize new products, processes or practices (via a non-interest-bearing loan totalling 50% of eligible private investment); and,
- To leverage angel or venture capital investment in southern Ontario (via support for non-profit Angel investor groups and networks).
Funds for Angel-invested businesses
The Investing in Business Innovation (IBI) program supports eligible start-up businesses by matching qualified Angel investments. Members of all Angel Network Program groups in Southern Ontario are considered to be qualified for this program.
Steps to be eligible to apply for matching funds:
- Determine your investment’s Eligibility for FedDev Ontario IBI Funding
- Ensure that the start-up business to be invested in falls within Start-up Businesses that Qualify for FedDev Ontario IBI Funding
- Fill out the Group Listing Application Form and upload your group’s signed charter to it
- Receive confirmation from NAO-Ontario that your group members’ eligibility is active
- Send NAO-Ontario updates on a regular basis. The group representative must attest to the size (minimum 4) of the group, the processes of the group, the intent to remit statistics to NAO-Ontario, the qualifications of the members, and any contact information changes while the group remains invested or interested in deals with FedDev Ontario matching funds
Your group does not need to be incorporated for its members to apply and qualify for investment matching funds.
Best practices
Only close the investment (signing the term sheet, etc.) after your application has been submitted to FedDev Ontario and an application number received from them. You may close the investment before FedDev Ontario has approved the application for matching funds; but expenses incurred before FedDev approval are incurred at your own risk, in the event funding is not approved.
For more information, consult:
- FAQs about FedDev Ontario’s Investing in Business Innovation Program
- FedDev Ontario’s website for the complete IBI guidelines.
Do you have an investment opportunity that qualifies for Matching Funds? Then Contact Us!
Disclaimer: NAO-Ontario has no role in the acceptance of applications for matching funds and this is provided for informational purposes only.
Funding for incorporated not-for-profit angel investor networks located in southern Ontario
FedDev Ontario also offers a grant to groups that are incorporated non-profits, and have been active for at least six months. The grant is made to support outreach and promotion activities to attract investment..
Consult the FedDev Ontario website for details.
Disclaimer: NAO-Ontario has no role in the awarding of these grants and this is provided for informational purposes only.
