Investment Activation, Funds and Reporting
Successful companies must complete the following activation requirements within 30 days of investment approval:
- Execution of OCE’s standard funding agreement. (Please do not fill out this template; a copy of the agreement will be generated through AccessOCE and sent to the Company upon approval of the investment.)
- Proof of Matching Funds: Please note that the proof of matching contribution in the form of a current bank statement (dated within 30 days approval notification) is required before the OCE investment can be released.
- Electronic Fund Transfer (EFT)/ Direct Deposit form and void cheque
- Execution of OCE's standard Convertible Debenture or other financial instrument approved by OCE prior to submission
- Company's profile
Flow of Funds
After the activation requirements have been met, OCE will release the full amount of the OCE investment.
OCE will not release any funds until the investment is activated, and will not be held responsible for any expenses incurred for the investment prior to activation. If for any reason the requirements for activation are not met within thirty (30) days from the date of release of the approval notification, the investment offer may be retracted.
The following investment reports will be required. Please note that completion of all required reports is a contractual obligation, as per the terms of OCE funding agreement. Failure to comply with reporting requirements will result in the termination of the investment and collection of the funds invested by OCE.
- The Final Report, including progress, performance metrics, proof of expenditures, and a financial attestation, must be submitted within 30 days of completion of the milestones in AccessOCE and is a contractual obligation.
- If early reporting is required, the company MAY request it by emailing the Program Manager.
Annual Investor Update
The company will be required to complete an annual metrics survey each April for five years following investment date that allows OCE to measure the impact of the investment. Please visit the OCE Knowledge Base of Frequently Asked Questions for more information on activating your project and submitting project reports.