Fundica and FundRazr Team Up for the $10K “Fundees Awards”

Montreal-based Fundica, creators of the 10-city, 2014 Funding Roadshow that began today in Toronto, is teaming up with crowdfunding platform FundRazr to offer two Canadian startups outside of Quebec some healthy perks. (Sorry Montreal!).

The two organizations announced that The Fundees Crowdfunding Competition, powered by FundRazr, will be unveiled at the Toronto and Guelph Funding Roadshow events happening today and Friday.

A Grand Prize package worth $10,000 will be awarded to two Canadian startups that tap the crowd most successfully in FundRazr crowdfunding campiagns, using either the “Keep-it-All” or All-or-Nothing” streams. These streams are fairly common with crowdfunding platforms, where “Keep-it-All” means that the startup gives FundRazr a higher percentage of earnings for the right to keep all the money that was raised, regardless of if a target was hit. “All-or-Nothing” means that the target must be hit, and startups give the platform a lower percentage of earnings.
Startups in Canada (excluding Quebec) will be given a seven-week “competition period” running from May 5th – June 23, and campaigns can be created beginning April 9th, until the end of the competition period. Campaigns can be officially launched on May 5, and a leaderboard will appear then as well.

“Crowdfunding is a proven and powerful new way for entrepreneurs to build community, get market feedback and raise alternative financing,” said FundRazr CEO Daryl Hatton. “We are pleased to launch The Fundees competition to celebrate more entrepreneurs raising capital as funders and backers conveniently access the campaign stories and perks online.”

The Grand Prize includes: a Future Equity Crowdfunding campaign on the FundRazr platform with all “regular” FundRazr fees waived), a Startup Marketing package courtesy of CrowdClan (valued at $2500), a Winner Promotional package, including profile video, courtesy FundRazr (valued at $2,500). Competitors obviously keep the funds raised during the campaign as well.

“We are excited to enable more entrepreneurs, even outside the 10 cities we visit, to access complementary funders via this crowdfunding competition,” said Fundica CEO Mike Lee.  “The proven FundRazr technology will enable campaign set-up and related tools to help campaigns succeed right on the website.”

All eligible competitors that launch campaigns will also qualify for two great incentives: CANARIE is offering one year of DAIR cloud infrastructure services worth more than $2,000. DAIR provides entrepreneurs with high performance, made-in-Canada cloud resources for development, testing and demonstration of new products and services utilizing advanced computing and network technologies.

Competitors will also be eligible to receive an exclusive invitation to Canada’s first Equity Crowdfunding cohort, courtesy of FundRazr.  The cohort will be among the first startups to have the opportunity to raise capital under the new Canadian crowdfunding exemptions.  The will receive beta access, coaching, event and networking opportunities.

The 2014 Funding Roadshow, beginning today, hits 10 cities, where 20 select entrepreneurs will pitch to a panel of eight funders. Pitches are limited to five minutes, followed by a seven-minute Q&A session. All entrepreneurs must present a strong technological element in their vision.

One winner in each participating city will receive $10,000 in prizes, airfare to San Francisco and the opportunity to pitch to VCs in California. They’ll also receive cloud infrastructure services package (courtesy of CANARIE) valued at $6,000 and a $4,000 value R&D tax credit financing solution (courtesy of R&D Capital).

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