Ignite Capital

Ignite Capital

October 17, 2013 07:00 ET

Last Chance To Win $20,000 Start-Up Grant

Ignite Capital Aims to Help Turn Business Ideas into Reality

TORONTO, ONTARIO--(Marketwired - Oct. 17, 2013) - Ambitious Ontario entrepreneurs have just a few days left to submit their application to Ignite Capital for a chance to win a $20,000 grant and a one-year mentorship. October 21st marks the last day for submissions.

Founded in May, Ignite Capital (www.ignitecapital.ca) is a Toronto-based non-profit organization, which was created to help aspiring Canadian business leaders who do not have access to capital through traditional means. The organization was founded by Pat McNamara, CEO of APEX Public Relations, as a way to provide guidance, mentorship, and funding to aspiring entrepreneurs.

Approved applicants will then be asked to submit their business plans and five of the best entries will have the opportunity to compete in a "pitch off" for the $20,000 grant.

"One of the most difficult hurdles for a new business is obtaining start-up funding, particularly for those who do not have access to traditional capital such as a bank loan", said McNamara. "Providing that financial support, while at the same time offering guidance and mentorship is the real goal behind Ignite Capital."

The program is managed by Business in the Streets (www.businessinthestreets.com) which works with at-risk and immigrant youth. Their unique programming teaches business skills with a complete hands-on approach. The result: a much higher potential for employment, entrepreneurship and educational opportunities.

The Contest:

Applicants have a chance to compete for a $20,000 grant with the runner-up receiving $5,000. Judges will be looking for candidates to showcase their great idea, as well as their business expertise and passion to succeed. They will also need to demonstrate that they do not have access to traditional capital such as bank loans, lines of credit, family funding, etc.

Eligibility Requirements:

  • For start-up, revenue generating businesses only (in business for under one year)
  • Business must be registered
  • Open to Ontario residents
  • Credit rating under 620
  • Applicant must demonstrate business related training/education

Application Process:

  • Application form due October 21st, 2013; available at www.ignitecapital.ca
  • Qualified applicants receive full application package (due November 1st, 2013)
  • Ignite Capital committee short lists five applicants (notified November 18th, 2013)
  • Pitch-Off Competition November 28th, 2013

Contact Information

  • For more information and interview opportunities, contact:
    Pat McNamara, CEO
    APEX Public Relations
    Founder, Ignite Capital
    C: 416-738-4775