First Money: Sources for early Operating Capital

At a meeting or The Ottawa Network last night, I heard presentations by George Brown, President of the Ottawa Community Loan Fund (www.oclf.org), Paul Lem of Spartan Bioscience (www.spartanbio.com) and Harley Finkelstein of Innoventure Capital (www.InnoVenture.ca).

George and Harley both provide “first money” to entrepreneurs who need that initial shot of operating capital to get them going.  The amounts are small – in the range of $1,000 to $15,000.  This is not a lot, but for a start-up entrepreneur with no money and lots of ambition, it may be enough to get going.  Check out their sites for more info.

Paul Lem’s presentation was quite different.  As a serially successful entrepreneur himself, he was offering jobs to other entrepreneurs who would take his ideas and run with them in the market.  He would provide skeleton staff and $1,000 a month in living expenses – again not a lot – but the payoff on exit could be big.  If you have ambition but no good ideas, check out his website for potential opportunities.

Let me know of other sources.

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