What is Fundica?
Fundica is the best way to find funding in Canada. Through its proprietary search, intelligent filtering and timely notification software, Fundica helps entrepreneurs find government grants, tax credits, loans and loan guarantees.
What types of funding programs and financial products are in the Fundica system?
Grants. Grants include government and private sector non-repayable financial contributions to support specific objectives - including wage subsidies, job creation funding, and other non-repayable contributions. Grants are generally provided before or during the investment period.
Tax Credits. Tax credits are government refunds and tax reductions/credits to encourage certain investments. Tax credits are generally provided following the investment period.
Loans. Loans include government and private sector repayable contributions. Government loans may have more relaxed conditions/guarantees and lower interest rates. Loans are provided prior to the investment period.
Loan Guarantees. Loan guarantees are government support for a loan by guaranteeing or "insuring" the loan or a portion of it in the event of default by the entrepreneur. Loan guarantees are provided prior to being accepted for a loan.
Equity. The equity category in our system includes all private sector investment for a share of the ownership or long term profits in the corporation. This includes direct purchasing of shares, but could also include a variety of more complex investment instruments (including royalties, profit sharing, options, and other instruments) that are not straight loans. Equity investment may come at any time in the investment period.
Accelerators and Incubators. Accelerators and incubators are business support organizations that offer structured entrepreneurship support programs that include one or many of: coaching or mentoring services, training, networking, and professional support. They can range from a month to a year and can include a Demo Day or pitch competition event at the end of the program. These programs are typically intended for startups, with incubators being focused towards very early-stage startups in the ideation stage, and accelerators being more appropriate for pre-seed companies with an MVP and initial revenue or seed-stage businesses that are aiming to get the next level with structured support.
Does Fundica include public and private sector programs?
Yes - all in one place. We include federal, provincial, and municipal public sector programs. We also include lender and investors from the private sector and their respective programs/products.
What kind of businesses can sign up for this service?
Any business in Canada that is incorporated or planning to incorporate can sign up for Fundica. Startups, medium- and large-sized corporations in all industries can benefit from Fundica's services as it gives them access to tax credits, loans, loan guarantees, grants and equity products/services.
How does Fundica identify available funding?
We intelligently search and filter funding programs/products for specific corporations based on exact location (i.e., postal code) and twenty other criteria using our patent pending filtering and search approach. We only include the programs/products that fit within the selected criteria and have available funding to save you time and simplify your life.
How does Fundica keep its system up to date?
We constantly keep our system up to date: by allowing funders to add and modify their programs/products; through our patent pending semi-automated funding program crawling, tracking, and updating system; and through our dedicated and outstanding funding research team.
How does Fundica filter through funding programs?
Fundica divides filters into primary and secondary filters:
- Your company's profile acts as the primary filter. It allows Fundica to display initial funding programs for which your company may be eligible. Primary filters are established when you create your account (Free account) or when you create a new profile (Pro account).
- Secondary filters refer to the filtering options you will see when you click on the filters icon in the upper right hand corner when viewing search results. These filters are grouped in the "Operational profile", "Product development", "Hiring and training" and "Strategic transaction" fields. If you are looking for funding for any of these situations, you must enable the corresponding filter to include situation-specific programs in your search results.
Why do you have both year of creation and year of incorporation?
- Year of creation: Many funding opportunities and support programs exist for early-stage businesses and startups, such as microgrants, incubators and accelerators. However, most government funding and some commercial financing requires businesses to be incorporated in order to be eligible.
- Year of incorporation: Once a business becomes incorporated, they become eligible for more government grants, loans, loan guarantees, and tax credits, as well as any many other sources of financing. Certain programs also use the age of the business as condition for eligibility. In that case, the date of incorporation is almost always used instead of the date of creation.
How do I create an account?
For entrepreneurs - simply create your account and start using it. No confirmations are required. Entrepreneurs can upgrade from the Free to the Pro account at any time.
Funders must validate their email and complete their profile before using their account. If an entrepreneur decides to add the funder features to their account, they will also need to confirm their email.
How can I make a product suggestion?
Please submit your suggestion to firstname.lastname@example.org. The Fundica product team regularly reviews all ideas so keep them coming! Thanks.