No Fixed Amount
Type of Program:
The AXION FUND is a vehicle to assist in two primary areas:
- 1First, 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.
- 2Second, 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:
Applicants must be:
Applicants must submit the completed Axion Application form on the website.
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.