Tool enables companies to instantly match to more than 4,500 government incentives, online
TORONTO, ONTARIO— (June 7, 2016)— Funding Portal is releasing Version 3 of its popular Search tool, which is now licensed by 19 leading organizations with mandates to help businesses and other organizations to get funded, according to information released by the company today.
Version 1, released in mid-2013, linked users to funders’ websites—a big help, but users still had to read through the information on each Funder’s site, and the tool’s ability to generate accurate matches was limited.
Version 2, released in mid-2014, introduced the company’s proprietary FundCard™ solution, providing users with a quick snapshot of the key data points of each fund in a LinkedIn-style profile, the ability to toggle back and forth to funders’ websites, and greatly improved matching capabilities. Version 2 also enabled automated updating of more than 14 data points for each of 4,500 funds, in French and English, every day.
Version 3, to be released June 15, 2016, includes five new features, including the adoption of government accessibility standards to enable use by the blind and visually impaired, and new intelligent features that leverage machine learning and data-backed insights into users’ funding objectives and funders’ funding objective to generate matches.
Version 3 also enables users seeking to move forward with applications to integrate their accounting software to almost instantly complete mandatory financial disclosures while improving funders’ ability to verify critical applicant financial data. This version also includes more than 5,000 sources of private financing, allowing companies to use the popular FundCard interface to leverage opportunities in government funding markets into matching or complementary funding in private capital and financing markets.
Finally, Funding Portal Founder and CEO Teri Kirk also reported, “In V2, we experimented with adding a small fee for repeat users. We realize that paywalls are an irritant for our users and V3 will enable multiple free searches.”
Kirk was recognized in May 2016 as the CATA/ EY Sara Kirke Entrepreneur and Innovator for 2016.
ABOUT FUNDING PORTAL
Funding Portal (fundingportal.com) is a comprehensive service that improves access to both government funding and private financing in Canada. The Portal aggregates data on more than 15,000 sources of funding for business, providing unique data and analytics products, as well as access to partners and services that greatly improve the ability of companies to secure funding. Funding Portal is also registered as an Exempt Market Dealer by securities regulators. More than 17,000 companies use Funding Portal each month.
Funding Portal Inc.
Teri Kirk, President &CEO
QUICK FACTS | 2016
- Governments in Canada disburse about $27B per year in incentives.
- About 50% of this funding is distributed by the federal government, 25% by Ontario and Quebec and 25% by the other provinces combined.
- This funding is distributed through approximately 4,500 federal and provincial government funding programs.
- Canada has been found to have the second highest level of government support for R&D in the world.
- Funding Portal also produces the Funding Portal Top 500 index, reporting on the top 500 awards to companies under Canada’s buseinss incentives programs.
- Funding Portal Search, the Portal’s popular search tool, is now licensed by 19 industry organizations to assist companies to get funded, ranging from Boards of Trade to Canadian Manufacturers and Exporters, MaRS, DMZ, CATA, ITAC and many others.
- Funding Report, Funding Portal’s free digital newsletter, aggregates and publishes news and data on funding issues of interest to business and is distributed to more than 33,000 subscribers each week.