No. Ideavelopers is a venture capital company. After making an investment, we support companies in a variety of ways but do not incubate companies. We work closely however with the Technology Incubation Program (TIP) at ITIDA.
What is the typical size of the investment?
The majority of companies we have invested in needed $1m to $4m in initial funding and up to $6m over a longer time horizon. We are driven primarily by the expected retrun of the opportunity more than the amount of money we can put in it. Our main objective is to identify companies with high growth potential.
Do you accept opportunities at the idea stage?
Even though we have occasionally invested in companies at the idea stage, this is done on an exceptional basis. Our main objective is to identify companies with high growth potential. We don’t have set formulas for the companies we invest in, however, the majority of companies we have invested in have the following common characteristics:
- Already have some traction on technology and market fronts.
- Have a strong team of business and technical managers who have relevant experience and expertise.
How long does the process take?
Depending on the availability of data and the analysis required, the time from initial contact to funding can range from two to six months. We have expedited the process in past instances for time-sensitive opportunities
Do I need to have a complete business plan to start a conversation with Ideavelopers?
We care more about how much thought has gone into an opportunity as opposed to how ready the documentation is. Eventually, we will need a complete business plan but we are happy to start a conversation with entrepreneurs at an earlier stage.
What is your relationship with the government?
MCIT is the sponsor of the fund and a champion of our efforts to support entrepreneurs in the CIT sector. We work closely with ITIDA and other government organizations to support our companies.