Ontario Creates – Ontario Music Investment Fund – Music Creation
Description:
The OMIF Music Creation stream provides funding to support the development of competitive, sustainable music companies in Ontario that take risks discovering and developing talent – particularly emerging artists – and bringing it to market.
Comments on Funding:
Funding is in the form of a direct grant:
- Up to 50% towards the cost of eligible activities
- The maximum funding is 40% of the company’s two-year* average of total revenue to a maximum cap of $200,000. The minimum funding request is $10,000.
*Due to the potential negative impact that COVID-19 may have had on a company’s 2021 revenue levels, Ontario Creates will consider calculating a company’s maximum OMIF request based on 40% of their three-year average revenue figure rather than a two-year average. Applicants wishing to request this exception must contact the OMO at least three weeks ahead of the deadline to discuss.
Eligibility:
Applicants must:
Eligibility as a domestic record label may extend to high potential self-releasing BIPOC (Black, Indigenous, People of Colour) and Francophone artist-entrepreneurs.
Applications Steps:
Applicants must:
Documentation Needed:
Applicants must submit the following:
- Activity Budget (template provided);
- Activity Details and Plans for each proposed activity (questions provided in OAP application);
- Company Budget:
a) for comparative purposes, the company budget must include both actual revenues and expenses for the previous fiscal period as well as a forecast of revenues and expenses that correspond to the current fiscal year, and/or to the end of the applicant’s proposed spending window. - Business Plan (see requirements);
- Articles of Incorporation;
- Financial Statements for the two most recently completed fiscal years.
- Artists’ contracts/certificate and undertaking (if applicable);
- Back up confirmation to support confirmed or pending financing;
- Documentation indicating that eligibility requirements have been met (e.g., proof of release dates, proof of sales, management or recording/licensing agreements);
- Signed Related Party Transaction form; and
- Signed Applicant Affidavit.
Other Things to Note:
The previous deadline was on September 15, 2022.
Program Contact:
When It Ends:
Ongoing
Deadline:
Next deadlines to be determined