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Competition Provides $140,000 for Start-Ups with Limited Access to Capital

June 11, 2016

Ignite Capital is pleased to announce its 4TH annual 2016 Annual Competition.

Ignite Capital is a non-profit organization founded to help aspiring Canadian entrepreneurs, who have limited access to capital through traditional means, the opportunity to compete for up to $20,000(combination of a $10,000 grant/$10,000 loan) as well as a prize package including mentorship support, working space and legal counsel. Second runner up receives  a $10,000 loan, third runner up receives a $,5000 loan.

The selection process will include an initial online application available at www.ignitecapital.ca. If approved, applicants will then be asked to submit their entrepreneurial story, business plan and financials by September 2nd, 2016. Ignite Capital will short list the three best entries in four categories –women, youth (18-29) aboriginal and immigrant, who will then participate in the Ignite Capital Pitch-Off in November 2016 in front of a panel of business experts and entrepreneurs. 

NEW Eligibility Requirements:

  • Candidates must qualify for one or more categories: 
    • Woman EntrepreneurYouth Entrepreneur(18 to 29 years old) Aboriginal and/or Immigrant Entrepreneur (in Canada 10 years or less) 
  • Start-up, for-profit businesses only (businesses in startup or growth phase)
  • Business must be registered 5 years or less
  • No freelance or self-contracted businesses
  • Open to Ontario residents
  • Credit score above 650 and personal income of less than $50,000 

Visit www.ignitecapital.ca to apply.