Transcript OCE Transaction Model IRP Discussion Tania Massa December

CLA/OCEA INAUGURAL MEETING
Tannery Event Centre – Kitchener, ON
June 20, 2014
CLA/OCEA INAUGURAL MEETING
Goals and Objectives:
• Networking
• Best practices
• Program updates
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AGENDA
9:00am
Networking Continental Breakfast
Opening Remarks and Introduction of CLAs and OCEAs
9:00am
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Tom Corr, President and CEO, Ontario Centres of Excellence (OCE)
Martin Croteau, Academic Entrepreneurship Director, OCE
Provincial Resources
OCE SmartStart Seed Fund
10:00am
 Martin Croteau
MaRS Business Acceleration Program (BAP)
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11:00am
Usha Srinivasan, VP, Learning and Insights, MaRS Discovery District
Networking Break
Campus Entrepreneurship: Lessons Learned
11:15am
12:15pm
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Mike Kirkup, Velocity @ University of Waterloo
Valerie Fox, DMZ @ Ryerson University
Cynthia Go, Impact Centre @ University of Toronto
Tony Bailetti, Lead to Win @ Carleton University
Networking Lunch
AGENDA
Breakout Sessions:
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1:00pm
CRM Tools for Client Data Collection
Best Practices in Accelerator Models
Sidecar Investment Funds
Contests, Events and other Outreach Campaigns
1:45pm
Networking Break
2:00pm
Program Process: Contracts, Reporting and Payments
2:30pm
Other Business: Open Q & A
Closing Remarks and Adjournment
3:00pm
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Bill Mantel, Assistant Deputy Minister, Research, Commercialization and
Entrepreneurship Division, Ministry of Economic Development and Entrepreneurship
Tour of Tannery District
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INTRODUCTIONS
CLAs:
OCEAs:
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University of Windsor
E3 London
Kitchener-Waterloo
University of Toronto
Ryerson University
OCADU
Centennial College
Queens University
Capital Entrepreneurs
Ottawa
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Conestoga College
Greater Sudbury
Seneca College
Lambton College
Georgian College
University of Guelph
Humber College
Brock University
George Brown College
Northern College
St. Clair College
SMARTSTART SEED FUND
Overview
June 20, 2014
CLA/OCEA ACTIVITIES
$
Linkages
Outreach
CLA/
OCEA
Space
Education
Advice
SMARTSTART AT A GLANCE
• Up to $30,000 grant with 1:1 matching
• $5,000 for entrepreneurship skills training
• Targeted to youth 18-29
• Not restricted to academic-based IP
• Approx. 250 investments in 2 years
• Rolling application process
• Reliance on regional screening partners
ELIGIBILITY
• Youth 18-29 yrs., must hold equity and key role
• Matching funds (1:1), anything but gov’t of Ontario
• Must be incorporated
• Targeting validation stage companies
• May have $250k max. revenue and/or investment
• FedDev SEB funded companies many not apply
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INVESTMENT TARGET
SmartStart
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MR2
MR3
APPLICATION
Customer
Problem
Solution
Value Prop
Revenue/
Pricing
Channels
Demand
Creation
Competition
Activities &
Budget
Team
SCREENING AND EVALUATION
Roles and Responsibilities of Partners:
• RICS/CLAs/OCEAs help cultivate opportunities
• Applications must be endorsed by partners
• All funding inquiries to be referred to partners
• Advisor to provide endorsement and evaluation
• Application package sent to 2 external reviewers
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ADMINISTRATION
Funding Agreements and Payments:
• Funding agreements automatically generated online
• Electronic signing from all parties
• Payment begins processing immediately upon approval
• Payment provided directly to the start-up via EFT
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CURRENT STATUS
• Fund opened application intake May 15th
• First applications currently under review
• Partnership signed with Futurpreneur
• Application to FedDev to double the fund
SUMMARY
Guiding Principles:
• Fund the right deals
• Move at the speed of business
• Leverage our regional partners
• Transparency and accountability
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THANK YOU
June 20, 2014