Having direct business ties to the Chinese marketplace is more important than ever for Ontario-based start-ups seeking an international presence. The China Angels Mentorship Program (CAMP), a joint initiative of Ontario Centres of Excellence and the China Canada Angels Alliance (CCAA), is a virtual incubation program designed to help start-ups prepare their businesses for the Chinese market.
The goal of CAMP is to help these companies shape their business model to fit the Chinese market, enter the marketplace and begin to scale their business. This is accomplished by providing mentorship, investment and direct business ties to the Chinese market. Initial seed investments range from $100,000 to $200,000 from CCAA investors, with possible co-investment by OCE through the Market Readiness Program, subject to program eligibility and criteria.
During the first phase of this initiative, OCE and CCAA will select 10 Ontario-based start-up companies who will obtain investment and mentorship opportunities from prominent Chinese angels. These entrepreneurs will then spend the next year building a relationship in both Ontario and China with the investors and learning how to adapt their business plans towards successfully entering the Chinese market. As part of this unique mentorship experience, the companies will travel to China to work with their investors overseas, giving them the unparalleled opportunity to immerse themselves in the Chinese culture and market. Selected companies will also have a two-year, ongoing mentoring relationship with CCAA during their time as a part of CAMP.
How CAMP Works
OCE will identify companies for potential investment by CCAA investors through the CAMP initiative. CCAA will evaluate the potential investment opportunities and be responsible for the final selection of companies for investment and participation in CAMP. Any co-investment by OCE will be on a case-by-case basis through OCE’s Market Readiness Program, subject to program eligibility and criteria.
During the initial phase of the program, 10 Ontario-based start-up companies will be selected for investment and mentorship opportunities from prominent Chinese angels.
While CAMP may consider companies from any sector, preference is given to IT-based companies, including healthcare IT, cleantech IT, finance IT, artificial intelligence and sustainability IT.