INVESTMENT CRITERIA

Funding

  • On behalf of the Government of Ontario, OCI supports early-stage companies that are raising pre-seed and seed investments (total round sizes range from $500,000 to $2 million). Market Readiness is a competitive co-investment fund.  With more than 300 companies considered for funding each year, OCI completes 20 investments a year.
  • Companies that have raised less than $1 million in third-party capital (excludes friends and family) are eligible for their first MR investment.
  • Incorporated for no more than five years (Ontario or Canadian for-profit incorporation) and have principal operations in Ontario
  • Currently or previously affiliated with a university, college or research hospital campus linked accelerator or incubator, in Ontario
  • Companies with their team/IP origin at a university (“university spin-out”), college or research hospital are also eligible, even if not campus affiliated.

Sectors

Agnostic across sectors including (but not limited to) IT, robotics, AI, health technologies, cleantech and advanced manufacturing with a minimum addressable market size of $100M.

Geography

Companies that are headquartered and predominantly located within the Province of Ontario. Current company headcount must be >50% located in Ontario (not projected).

Stage

Early-stage technology companies that are at the commercialization stage. Our suitability criteria defines staging expectations for the two stages of investment: MR125 and MR250.

Suitability

  • Market Readiness is a competitive co-investment fund.
  • Companies are reviewed through a rigorous internal pre-vetting process before being selected to proceed to an investment advisory committee for consideration.
  • Companies will be evaluated based on their potential long-term competitiveness, strong IP, unique value proposition and momentum/capacity to scale.
  • Preference will be given to companies that exhibit a unique offering that differentiates them in the marketplace.

 

Suitability for $125,000 or $250,000 investments

Early-stage technology companies that are close to commercialization. Ideally, the product has been built, and there is some early market traction. Investments for the round to be used for significant milestones for a runway up to 12 months.

125,000 investments (MR125)

  • Company should be prepared to discuss proposed terms of the current round which is being led by third party investors (Not OCE)
  • Company should be past the internal beta design and development stages and working with prospective market customers to improve the offering
  • Company should be developing proprietary technology with the potential for long-term competitiveness
  • Company should be defining its primary product/ market fit and establishing reasonable pricing models with a sales strategy/pipeline
  • Company should have a defined business model and financial forecasts (1-2 years) ready for potential discussions with third-party investors
  • Company should be raising sufficient investment to reach the next defined significant milestone(s)
  • Companies should be prepared to discuss the performance milestones that will drive the next fundraising strategy or show revenue growth to self-sustainability

 

250,000 Investments (MR250)

  • Companies will have already raised a pre-seed or seed round and are looking for additional growth capital
  • Companies should be advanced in their growth and sales strategy, showing early but consistent traction and a sales strategy that is repeatable and scalable
  • Companies with the potential to redefine or disrupt a targeted industry will be considered; this includes companies with strong IP and a different offering
  • Companies may be pivoting to target growth with higher momentum
  • Company should have a business model and financial forecasts (2-4 years) ready for potential discussions with third-party investors
  • Companies will have milestones that drive a Seed extension or Series A round in the near-term future (1-2 years)
  • Companies targeting massive markets with a ‘swing-for-the-fences’ approach will be considered

$125,000 Investments (MR125)

$250,000 Investments (MR250)

$125,000 Investments (MR125)

$250,000 Investments (MR250)

Company should be prepared to discuss proposed terms of the current round which is being led by third party investors (Not OCI)

Companies will have already raised a pre-seed or seed round and are looking for additional growth capital

Company should be past the internal beta design and development stages and working with prospective market customers to improve the offering

Companies should be advanced in their growth and sales strategy, showing early but consistent traction and a sales strategy that is repeatable and scalable

Company should be developing proprietary technology with the potential for long-term competitiveness

Companies with the potential to redefine or disrupt a targeted industry will be considered; this includes companies with strong IP and a differentiated offering

Company should be defining its primary product/ market fit and establishing reasonable pricing models with a sales strategy/pipeline

Companies may be pivoting to target growth with higher momentum

Company should have a defined business model and financial forecasts (1-2 years) ready for potential discussions with third-party investors

Company should have a business model and financial forecasts (2-4 years) ready for discussions with third-party investors

Company should be raising sufficient investment to reach the next defined significant milestone(s)

Companies will have milestones that drive a Seed extension or Series A round in the near-term future (1-2 years)

Companies should be prepared to discuss the performance milestones that will drive the next fundraising strategy or show revenue growth to self-sustainability

Companies targeting massive markets with a ‘swing-for-the-fences’ approach will be considered

Only companies meeting the above criteria will be invited for review by the Investment Advisory Committee (IAC).

Interested?

START THE PROCESS (ELIGIBILITY AND SUITABILITY QUESTIONNAIRE)

*Applicants must first complete an Eligibility and Suitability Questionnaire to indicate your company’s interest in the Market Readiness Co-Investment Fund.

Note: Submission of the Eligibility and Suitability Questionnaire does not constitute an application for funding. See the “Assessment Process” for full details on next steps, including Eligibility and Suitability Questionnaire, Internal Review Meeting(s), and submission of due diligence documents for internal and external review.