Fundica.com

Fundica.com
Industry Fintech
Founded 2011
Founder Mike Lee
Headquarters 1117 Saint Catherine West, Montreal, QC, Canada
Services Matches businesses, particularly startups and Small and medium SMEs in the technology sector, with appropriate sources of funding.
Website www.fundica.com


Fundica.com is a privately held Canadian financial services corporation based in Montreal, Quebec, that matches businesses, particularly startups and SMEs in the technology sector, with appropriate sources of funding. Fundica.com’s database of funding opportunities is accessible via a proprietary search engine on the website.[1][2]

The Fundica database contains information about public sector and private sector funding opportunities in Canada, such as grants, tax credits, loans, loan guarantees, equity funding programs, and venture capital investments. The database is maintained by internet bots, Fundica researchers, and funders themselves.[1]

In partnership with Startup Canada, a nonprofit organization that “advances entrepreneurial success in Canada”, Fundica created Startup Contest, an annual, national pitch competition for Canadian entrepreneurs trying to start new businesses.[3][4]

Fundica also organizes the Funding Roadshow [5] an annual event across Canada designed to better educate entrepreneurs on funding opportunities as well as facilitate connections between funders and entrepreneurs.

History

In January, 2011, Fundica launched an online funding search system for businesses operating in Quebec. By the end of 2011, Fundica had expanded its online tool and database to include funding opportunities for businesses across Canada.[2]

Also in 2011, Fundica filed Canadian and U.S. patent applications to protect its proprietary search and intelligent filtering system for funding opportunities.[6]

In September, 2012, Fundica partnered with Startup Canada to produce Startup Contest. A national pitch competition for Canadian entrepreneurs.[3]

In 2013, Fundica organized its first Funding Roadshow, a national event that educates, inspires and funds entrepreneurs across Canada.

March, 2013, Fundica was one of four national finalists to receive a Financial Literacy Startup Award at the Bridging Financial Literacy Gap event in Ottawa, Ontario, hosted by Startup Canada, Intuit Canada and other small business sector leaders.[7][8][9][10] The award recognizes startup technologies that help entrepreneurs improver their financial literacy.

In May, 2013 Mike Lee, President of Fundica was identified as one of Quebec's top 25 Emerging Entrepreneurs [11] by C2MTL and the Claudine and Stephen Bronfman Foundation.[12] The Emerging Entrepreneurs Contest is designed to give Quebec's most promising business minds the opportunity to share their ideas and network with the many international leaders in creativity and commerce in attendance at C2MTL. Mike Lee was also recognized in 2013-2014 as the Entrepreneur of the Year by CFO Canada.[13] This prize is awarded to the entrepreneur that shows growth and creates new products that help entrepreneurs across Canada.

In 2014, Fundica was runner-up in the Entrepreneurial Effect Award from Startup Canada. [14] This is awarded to the individual, group, community, network or organization that has developed and produced a program, tool, research project or event that has had the greatest impact in advancing entrepreneurship awards.

System

Using a Web search algorithm executed by internet bots, Fundica locates funding opportunities online and automatically records them in the database. Funders have the ability to submit information about their own programs via the Fundica.com website. Fundica’s researchers also verify and update funding information manually.[1]

On the Fundica.com website, businesses seeking funding build a profile based on 20 to 30 search criteria. Fundica’s proprietary search and intelligent filtering system uses this profile to generate a list of relevant funding opportunities.[1]

Services

Because it seeks to play matchmaker between businesses and appropriate funders, Fundica has been dubbed “a sort of eHarmony of the funding world.”[1]

Fundica.com offers free and paid user accounts, each affording a different level of access to the system for startups, established businesses, funders and funding advisors. Fundica also provides funding management consulting services.[2]

Startup Contest

Startup Contest, created in 2012 by Fundica and Canadian nonprofit Startup Canada, is an annual, national competition for Canadian entrepreneurs. Participants compete for prizes and attract industry attention by pitching their (startup) business ideas to an expert judging panel. Toronto-based startup Ratehub.ca won the inaugural contest in October, 2012.[15]

Funding Roadshow

National event across Canada educating, inspiring and funding entrepreneurs.

Funding Roadshow [16] is an annual event across Canada designed to better educate entrepreneurs on funding opportunities as well as facilitate connections between funders and entrepreneurs. In each city, the event consists of 20 closed room pitches, a variety of workshops about funding and online resources available to help entrepreneurs grow their business and an evening networking session. Entrepreneurs working on an innovative product get the chance to pitch their business to a panel of Angel Investors, Venture Capitalists firms, financial institutions and Government organizations. The select companies chosen to pitch can validate their business, receive candid feedback, meet funders and in certain cases get funded and win a trip to pitch to Venture Capitalists in California as well as 6 months free office space.

2013 Funding Roadshow took place in 5 cities in Canada having 103 entrepreneurs and 35 funders attend. 39% of entrepreneurs were offered funding and 30% of the panelists funded entrepreneurs. [17]

2014 Funding Roadshow took place in 11 cities across Canada having 1024 participants (899 entrepreneurs, 83 funders, 42 other attendees). The event held 205 pitches and provided 64 workshops. 31.6% of entrepreneurs were offered funding and 33.3% of panelists funded entrepreneurs.[18]

References

  1. 1 2 3 4 5 Dobby, Christine (July 5, 2011). "Modern matchmaker". Financial Post.
  2. 1 2 3 Evans, Mark (December 26, 2011). "Database matches entrepreneurs with much-needed funds". The Globe and Mail. Retrieved February 8, 2013.
  3. 1 2 "Startup contest for Canadians". The Globe and Mail. August 28, 2012. Retrieved February 8, 2013.
  4. ↑ "About Startup Canada". Startup Canada. Retrieved February 14, 2013.
  5. ↑ "Funding Roadshow". Fundica. Retrieved February 12, 2014.
  6. ↑ "System and Method for Interactive Identification and Matching of Funding and/or Advisory Seekers and Funding and/or Advisory Providers, Patent application number 20130007099". Patentdocs. Advameg, Inc. Retrieved February 8, 2013.
  7. ↑ "Startup Events Tackle Hot Button Issues". Startup Canada. Retrieved March 15, 2013.
  8. ↑ Spence, Rick (March 11, 2013). "Most small business owners can’t pass a basic financial test". Financial Post. Retrieved March 11, 2013.
  9. ↑ Thomas, Knowlton. "StratPad Wins Intuit and People’s Choice Awards at Startup Canada’s Financial Literacy Gap Event". Techvibes. Retrieved March 7, 2013.
  10. ↑ Makar, Jana. "Financial Smarts Can Make or Break Startups". Startup Canada. Retrieved March 11, 2013.
  11. ↑ "Introducing Quebec's Top 25 Emerging Entrepreneurs". C2-MTL. Retrieved February 12, 2014.
  12. ↑ "Claudine and Stephen Bronfman Foundation". Retrieved February 12, 2014.
  13. ↑ "C-Suite CXO of the Year". C-Suite. Retrieved February 12, 2014.
  14. ↑ "2014 Startup Canada Awards Results". Startup Canada Awardes. Retrieved February 12, 2014.
  15. ↑ Czikk, Joseph. "Startup Contest winner Ratehub.ca keeps growing". Fundica.com. Retrieved February 8, 2013.
  16. ↑ "Funding Roadshow". Fundica. Retrieved February 12, 2014.
  17. ↑ "Funding Roadshow Facts 2013". Fundica. Retrieved February 12, 2014.
  18. ↑ "Funding Roadshow Facts 2014". Fundica. Retrieved February 12, 2014.

External links

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