TORONTO, ONTARIO--(Marketwired - May 13, 2014) - The Funding Portal Inc. reported today that it has been registered by the Ontario Securities Commission (OSC) as an Exempt Market Dealer (EMD), establishing the company as Canada's first comprehensive service for securing both government funding and private financing. Registrations with all other securities regulators across Canada are expected to be completed under the OSC Passport System next week.
The Funding Portal is now the only service in Canada that assists companies to access financing from more than 4,500 government funding programs, and 2,500 sources of private financing, ranging from grants, contributions and tax incentives to accredited investors, venture capital, angels, and bank financing - all via an online database that is verified and updated daily.
"The Funding Portal's new Private Financing service extends our commitment to assisting companies to receive the largest possible funding commitments from government, matching them to commercialization partners and sources of private investment, which is increasingly required by governments," said Teri Kirk, CEO, The Funding Portal. "By providing fast affordable services that improve access to some $30B a year in government funding - and now sources of private investment as well - we're making it easier for Canadian businesses to secure the funding they need to innovate and succeed."
Under the new Private Financing service, registrants complete web-based issuer and investor fact sheets to clarify their financing and investment objectives, respectively, and advanced search optimization tools create preliminary matches. Issuers may issue credentials to accredited investors who can then view the offering documents, as well as prototypes, demos, business plans and other supporting documents, in a secure password-protected workroom on the portal. The online workroom enables viewing and transacting among companies and qualified investors.
"The registration of The Funding Portal is part of the movement by regulators to accommodate new internet-based offerings designed to improve access to capital," said Kirk. "Our significant experience assisting companies through government funding processes, market-tested tools and solutions and, now, registration with securities regulators, enable us to begin offering the service immediately."
The new Private Financing service assists companies to secure government funding and private investment at the seed to mid-cap range-$100,000 to $5 million.
"The Funding Portal helps companies to secure funding in a $30 billion annual government incentives financing marketplace, which has been largely impenetrable," said Rob Pollock, CEO of Primary Capital and an investor in The Funding Portal. "The portal service is a much-needed and long-awaited addition to Canada's financing marketplace, opening up a rich array of government incentives programs of benefit to investors and companies alike."
The Funding Portal launched its new Private Financing services effective May 1, 2014. Companies or accredited investors interested in participating in the Government Funding or Private Financing service can register for the service on The Funding Portal home page.
About The Funding Portal
The Funding Portal (TheFundingPortal.com) is a comprehensive service that improves access to both government funding and private financing in Canada. The portal aggregates information on more than 7,000 sources of funding online, providing unique data analytics products as well as access to partners and services that greatly improve the ability of companies, institutions and non-profits to secure the funding they seek. More than 17,000 Canadian organizations use The Funding Portal to find funding each month.
Facts about Government Funding in Canada
- The Top 100 companies to secure government incentives in 2013 received an average amount of $7.6 million each.
- Manufacturers receive approximately one-third of all industrial incentive awards in Canada.
- 945 government funds that award $8.8 billion per year are available to Canadian manufacturers.
- 620 programs that disburse $5.6 billion/year are available to the aerospace industry.
- 15% of government incentive programs require companies to provide a matching contribution to the cost of the initiative.