April 23, 2010 Jill

These are exciting times.  There’s finally money around to invest in digital creations thanks to the IPF and the CMF’s new experimental fund.  I went to the CMF information session this morning at the Royal York and basically I liked what I heard.

These aren’t verbatim quotes, but what I heard was, there are some rules, but there’s also flexibility.  This is new, there aren’t answers to every question.  Talk to them and they will try to work with you to get things figured out.

There’s a big pot of money waiting to be used: $23 million.  A third will go to French language projects and two thirds to English ones.  The CMF will fund 75% of eligible costs up to a million dollars. That means as few as 23 projects could be funded which would be a drag.  Half of the money will be given out following the June deadline and the other after the October deadline.

They are looking for projects that are innovative — in content, business plan, technology or presumably all three.  They ask you to come with a market channel partner — someone who knows how to distribute and promote on the web, but the CMF is mindful that not every project will need this partnership nor are they prescriptive on what constitutes a market channel partner.

One of the questioners this morning pointed out that many digital products were launched without any business plan (Twitter, anyone) and the CMF replied, convince us that there’s a market.  They are definitely talking the good talk and seeming open and flexible.

I called to set up my one on one consultation.  The poor woman at the other end of the phone had been overwhelmed with calls since this morning.  This is one of the aspects of the program that isn’t quite in place yet.  How are they going to meet with everyone?  Who’s going to take the meetings and so on.

I was told to email them requesting a one-on-one consultation.  Because of time constraints and the labour involved, they don’t want to meet with people too early in their process.  So they want some details about the project and where I am in development.  The chances of getting a meeting next week look slim.

I remained buoyed and excited about the prospects the experimental fund offers.  The presentation this morning certainly presented the CMF as a good partner — one with ideas and goals, but also flexibility and an ability to listen.  I hope I have the opportunity to go into business with them.

Comments (3)

  1. Illia

    I’m wondering why your blog still doesn’t have a “Like” button and are you considering getting one or why not?

  2. admin

    Oh Illia, it takes time and effort to install a like button. I have other stuff to do… like write blog posts, go for coffee and snooze. I’ll put it on the to do list.

  3. BT

    Have you seen their recoupment policy?! It’s pretty harsh

    – for development, they want % of IP proportional to % of their investment
    – for production, they want 50% of profits IN PERPETUITY (unless you pay off the loan in less than 2 years, in which case they graciously drop it to 25% of profits in perpetuity)

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