Last October, BetaKit reported on the long-awaited arrival of AngelList Syndicates to Canada, albeit in limited form, following the Ontario Securities Commission’s (OSC) decision to allow Ontario investors to lead and participate in AngelList Syndicates as part of a two-year trial program. Back then, AngelList’s advisor to Canada, Alex Norman, said it would be “just a matter of time until it’s across Canada.”
“Founders are building great companies from coast to coast and we can now help them succeed.”
As of today, AngelList Syndicates are available across Canada. Any Canadian startup can now raise funds on the platform, and accredited Canadian investors can now apply to invest on the platform (unsure if you’d qualify? read our extensive breakdown of how AngelList works).
“We are excited that the CSA [Canadian Securities Administrators] has approved AngelList Syndicates countrywide,” Norman told BetaKit. “Founders are building great companies from coast to coast and we can now help them succeed by providing access to capital/funding via the AngelList platform.”
As part of the October announcement, Creative Destruction Lab and NEXT Canada were identified as the two launch members of the OSC’s Approved Incubator Program, which allows investors to invest in a subset of companies and not count towards the Ontario investor limit (more on that here). Since then, the OCE and YEDI have been added to the AIP list, and is looking to take applications from organizations across Canada. Interested incubators, accelerators, “technology transfer offices” and organizations that meet the criteria listed below should drop AngelList a line via email.
Approved Incubator Program Criteria
- Has a startup program that has been around for at least two years
- Receives funding from (A) a federal/state/provincial/territorial/municipal government, or a crown corporation or government-owned corporation or authority or (B) an accredited university or college
- Has a competitive application process with clear criteria to select startups for its program
- Has a review process for founders and other key individuals to make sure the startup meets admission criteria
- Provides entrepreneurial advice and mentorship