Maurice
Posted: January 19, 2022
  • This program is currently closed.

Amount:

$250,000

Type of Program:

Investment


Description:

N100 is Northumberland, Ontario, Canada’s annual open invitational and biennial technology startup competition for up to $250,000 in early-stage investment in the form of the N100 convertible note.

Comments on Funding:

Basic terms, normally as follows:

  • Up to a maximum of $250,000 in convertible notes
  • 8% interest
  • Conversion at the option of Northumberland CFDC after future significant financing event
  • 20% discount
  • No valuation cap
  • additional terms and conditions may apply.

When It Ends:

Closed

Deadline:

2020 dates to be announced.

Eligibility:

Applicants must:

  • Be individuals, partnerships or corporations
  • Ultimately incorporate their startup company in order to be eligible for investment
  • Enter one idea that involves a plan to commercialize a new technology (a product or service)
  • Use technology as a core aspect of their business, such that the business is not possible without that technology.
  • Have potential for presence and economic impact in Northumberland.

Applications Steps:

1

Applicants must apply through Northumberland CFDC’s web-based universal client application form, specifically indicating their intention to apply for N100.

Other Things to Note:

Program no longer active at the beginning of 2021.

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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