ignite100 has officially landed in Peterborough. Community Futures Peterborough announced its new innovation challenge program today giving area businesses the opportunity to compete for significant funding opportunities to grow or expand their business.
“This program is about giving area businesses another avenue to gain a competitive advantage,” says Peter Gaffney, Chair of Community Futures Peterborough. “We wanted to develop something specific for our community and allow as many businesses as possible participate in the competition.”
ignite100 was created by Community Futures Peterborough to assist in local business expansion. This is a local initiative open to all organizations within the city or county of Peterborough that have been in business for more than 2 years. It is also open to any business willing to relocate to the region. All industry sectors are encouraged to participate.
“The Greater Peterborough community has done an amazing job supporting our youth and startups, and Community Futures Peterborough is a major partner of both the Bear’s Lair and Win this Space programs,” says Gail Moorhouse, Executive Director of Community Futures Peterborough. “We believe that now is the time to focus on business expansion and provide an opportunity for entrepreneurs to catapult their business forward. ignite100 is the catalyst to do just that.”
Entrants to ignite100 are competing for a 3-year interest free loan, with no payments for year one. They will also have access for up to one million dollars as a repayable loan(s) or equity position through Community Futures Peterborough partnerships.
The Ignite100 website opened for applications on Thursday January 10th, 2019 and applications will be accepted until March 15th, 2019. The winner will be announce at the Community Futures annual AGM and Community BBQ on June 26th, 2019.
More information can be found at www.ignite100.ca
Community Futures Peterborough