Prospects Oncology Fund

FACIT’s Prospects Fund is designed to support early stage proof-of-concept (POC) studies within Ontario academic institutions and start-ups that fit with FACIT’s Ontario First investment strategy and have the potential to act as deal flow for the Compass Rose Fund. Prospects funding ranges between $50,000 and $200,000.

Prospects Fund Profile:

Funding per ProjectUp to $200k, one-time payment
Project DurationUp to one year
EligibilityOntario-based academic researchers and start-ups in the oncology space
Type of Investment*Grant-like with certain rights for FACIT
Qualifying Investment ProfileInnovative technology not incremental advance• A clear path forward for commercialization• A discrete project with quantifiable outcomes tied to funding• Oncology-related and located in Ontario• Has Ontario IP or is likely to create it
Main Goal of InvestmentFunds should enable development and/or market research to advance the technology and support or ascertain proof-of-concept
*Funding is governed by a contract which grants certain rights to FACIT. FACIT receives no financial consideration on Prospects awards of $50,000 or less. On all other awards, FACIT receives an option to make an investment at the Compass Rose level and act as the agent for commercialization, if mutually agreed.  If the option is exercised, funding received from the Prospects Fund will be credited towards FACIT’s Compass Rose investment.

“We are at a pivotal moment in our company’s development and are fortunate to benefit from FACIT’s continued support and resources which are fuelling Xpan’s growth and accelerating our journey to commercialization”

Mr. Zaid Atto, Founder and CEO of Xpan. (2020)

How to apply:

The Prospects Fund has two independent application rounds per year, with pre-submission forms accepted by:

  • March 31  
  • September 30

Late applications will not be considered. Selected applicants will then be invited to prepare a Prospects funding package which is subject to due diligence by FACIT.

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