NORTHUMBERLAND, Ontario--(BUSINESS WIRE)--Northumberland CFDC, a business development corporation dedicated to providing financing, strategy, and a comprehensive ecosystem for entrepreneurs, today issued a global call for applications to its second annual N100 Startup Competition, with the winner receiving $100,000 in new investment capital.
The inaugural year of the N100 competition attracted 34 companies, with the winner being Unified Computer Intelligence Corporation, for it ubiquitous computing device, dubbed “the Ubi.”
Through N100 and other initiatives, Northumberland CFDC has supported the launch of 22 startups over two years, making metro-adjacent Northumberland—one hour East of Toronto—an emerging hotspot for startups. In total, these companies have filed 5 new patents and leveraged almost $2.5 million in follow-on investment.
“N100 helps accelerate early-stage companies in Ontario by providing risk capital to fund significant milestones in their development—such as prototyping—and ready them for angel round follow-on investment,” said Wendy Curtis, Executive Director, Northumberland Community Futures Development Corporation. “In addition, N100 is an entrepreneurial attraction and development strategy designed to build a nucleus of next generation companies.”
Adding more momentum to 2014 is the addition of David L. Shrier to the N100 Power Panel. David has an impressive track record as an investor, entrepreneur, business leader and strategist. He currently works with the Office of Philanthropic Partnerships at Massachusetts Institute of Technology (MIT) and advises the European Union on technology commercialization and entrepreneurship. N100 competitors will have a chance to interact with David and other prominent panelists, including Shirley Speakman (Investment Director at MaRS Investment Accelerator Fund) and David Pamenter (Business Law Partner at Gowling Lafleur Henderson LLP) during the Pitch Contest event to be held at the Cameco Capitol Arts Centre in Port Hope later this Spring.
N100 Process and Eligibility
Startups located anywhere are
eligible to apply for N100. Ultimately they must establish a presence in
Northumberland to qualify for the $100,000 investment. N100 is a
strategic partnership between Northumberland CFDC and Spark Centre, who
provides coaching, mentoring and support for N100 competitors, as they
advance through three rounds of competition: the Pitch, Business
Planning and Negotiation. “We will be working directly with N100
competitors to hone their pitch as well as their business and marketing
strategies,” said Dennis Croft, Executive Director of Spark Centre.
The deadline for N100 competition applications is March 14, 2014 at 5pm EDT. The first round Pitch Contest will be held at the Capitol Theatre on April 30 before a live studio audience. The competition will wrap up in early July.
For N100 competition details, visit www.n100.ca.
Northumberland Community Futures Development Corporation (Northumberland CFDC) is a business development corporation dedicated to providing financing and strategy for entrepreneurs. Northumberland CFDC is governed by a volunteer board of directors and staffed with business professionals delivering an array of entrepreneurial development programs funded by the Government of Canada and the Province of Ontario. The corporation manages an investment portfolio that drives business start up and expansion, job creation and local impact to GDP. Current initiatives include Feddev Ontario's Scientists and Engineers in Business and N100: a startup competition for $100K in acceleration capital investment.
