Vancouver, Canada (July 15, 2020) – Trickfilm Entertainment Inc. (Trickfilm, or the Company) has met the criteria to become an Eligible Business Corporation (EBC) in British Columbia’s Venture Capital Program. This program was established to encourage investors to make early-stage venture capital investments in BC small businesses to help them develop, grow, and mature.
“This is a very positive development for Trickfilm” says Jeremy McCarron, founder and CEO, “as it allows us to significantly de-risk the investment in our startup for both individual and corporate investors.”
To qualify as an EBC, a corporation must meet several criteria in relation to its business activity, employment levels, and presence in BC. Under the direct investment model, an EBC can accept equity capital directly from investors. Investors may apply the tax credit against provincial income taxes payable and it may be carried forward up to four years. Individual investors are entitled to a 30% refundable tax credit, up to an annual maximum of $60,000. Corporate investors are entitled to a 30% non-refundable tax credit, with no annual limit.
Trickfilm is a real-time animation streaming platform which translates the production techniques, distribution methods, and revenue models from video games to the animation industry. The platform empowers animation producers to connect directly with their audiences and effectively monetize their intellectual properties through the sale of virtual goods to end users.
For more information on British Columbia’s Venture Capital Program, please visit their website at https://www2.gov.bc.ca/gov/content/employment-business/investment-capital/venture-capital-programs