Maurice
Posted: February 8, 2022

Amount:

No Fixed Amount

Type of Program:

Investment


Description:

The AXION FUND is a vehicle to assist in two primary areas:

  1. 1
    First, its Canadian IP focus is to assist in the commercialization and growth of ideas and research-based companies, generated within universities and other innovation centers across Canada. The funding helps inventors with scalable intellectual property to protect their work and navigate through the investment and funding landscape.
  2. 2
    Second, its Northern Ontario focus, with a primary directive being to attract, mentor, coach, fund and commercialize early-stage start-ups and later scale-ups that have a plan to be partly or entirely settled, or desire to locate in some form in Northern Ontario.

Comments on Funding:

The average cheque size varies from $100-300K across 30-50 deals over 5 years.


When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

Applicants must be:

  • seed-stage start-ups with strong, research and data-driven IP at core of its technology that is generated in one of the Canadian Universities, Colleges or research institutes;
  • Canadian based companies;
  • have a plan to be partly or entirely situated in, or desire to locate in some form in Northern Ontario (Bonus consideration);
  • fall into one of the following areas: SaaS, and also Smart Cloud Connected devices (IoT) and more specifically in Smart Manufacturing, Mining, Smart Cities and Buildings, and CleanTech sectors.

Applications Steps:

1

Applicants must submit the completed Axion Application form on the website.

Documentation Needed:

Applicants must submit the completed application form including an investor pitch deck and/or one-pager.

Other Things to Note:

Financial institutions deliver the program and are solely responsible for approving the loan. Once the decision is made to offer financing under the program, the financial institution will disburse the funds and register the loan with Innovation, Science and Economic Development Canada.

The cost associated with a CSBFP loan are: a 2% registration fee, a fixed or variable interest rate and other lender fees. 

About the author 

Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Ontario to identify and maximize government grants to grow their business.
Click here to learn more about Moe's background and how he can help your business.

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