The Canada Media Fund (CMF), which supports companies that promote Canadian creative content, is partnering with BDC Capital, an affiliate of the Business Development Bank of Canada (BDC), to increase the funding available to project commercialization in the digital media industry. Under this arrangement, BDC will provide eligible ventures in gaming and software with a convertible note worth $150,000 to complement investments already committed by CMF. One objective of the partnership will be to increase opportunities for these companies to secure additional private sector investments.
CMF and BDC Capital collaborate to support commercialization of innovative games and software applications
Montreal, September 9, 2014 – The Canada Media Fund (CMF) and BDC Capital, a subsidiary of the Business Development Bank of Canada (BDC), announced today a collaboration to provide companies that have received CMF funding with greater access to capital in order to accelerate the commercialization of their projects and attract potential additional private sector investments. BDC Capital will support eligible companies with a convertible note worth $150,000 to complement investments already committed by the CMF.
“This unprecedented collaboration between the CMF and Canada’s largest institutional venture capital investor reflects a shared commitment to support Canadian companies by providing access to greater capital and markets and by promoting the success of Canadian media innovation,” says Valerie Creighton, President and CEO, CMF. “This is one more step in finding creative solutions to build support for Canada’s innovative digital media industry.”
As of June 30, 2014, BDC Capital’s Strategic Investments and Partnerships team has invested in 87 start-ups, representing $13.2 million in capital, which has attracted more than double in private-sector and angel investments.
“When considering new partners with whom to deploy the convertible note we look for innovative and unique programs that have demonstrated the ability to have a significant, positive impact in the Canadian start-up ecosystem. We believe CMF meets these criteria,” stated Dominique Bélanger, Vice-President of Strategic Investments and Partnerships at BDC Capital. “We are excited to partner with CMF and look forward to helping the best innovations fulfill their greatest potential.”
This initiative is designed for games and software startup companies whose projects received – or will receive – funding through the CMF’s Experimental Stream either in 2013-2014 or 2014-2015. Startup companies must also meet the BDC Capital’s Strategic Investment & Partnerships criteria.
The CMF will contact applicants that correspond to the criteria outlined by the CMF and BDC Capital to provide additional information on this initiative.
About the Canada Media Fund
The Canada Media Fund (CMF) fosters, develops, finances and promotes the production of Canadian content and applications for all audiovisual media platforms. The CMF guides Canadian content towards a competitive global environment by fostering industry innovation, rewarding success, enabling a diversity of voice and promoting access to content through public and private sector partnerships. Please visit www.cmf-fmc.ca.
The CMF’s Canadaonscreen.ca is a website designed to showcase and celebrate Canadian creative talent and content destined for all types of screens, from television productions to games, Web content and software and applications.
About BDC Capital
A subsidiary of the Business Development Bank of Canada (BDC), BDC Capital offers a full spectrum of specialized financing and investment solutions to help Canadian entrepreneurs achieve their full growth potential. With more than $1 billion under management, BDC Capital takes a strategic, patient approach to nurture companies’ development over the long term.
From venture capital to equity to growth and transition capital, our team of over 100 experienced, local professionals partner with entrepreneurs to identify and meet their needs on flexible terms. Some of the sectors in which we specialize include IT, industrial/clean/energy technology, and healthcare. For more information, please visit www.bdccapital.ca or follow us on Twitter at @BDC_Capital.
For more information, please contact:
Director of Industry and Market Trends
Canada Media Fund
Vice President, Venture Capital Strategic Investments and Partnerships, BDC Capital
Canada Media Fund
Senior Advisor, Public Relations
Business Development Bank of Canada
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