Finlay, Lowe Standing By FAN’s Record

What a brutal deal for startups. The government has got to be able to find a better way to funnel money to startups than through these guys, who charge cash-strapped startups $3k to pitch (!!!) and then take 8% for themselves personally.

Some items of note:

1) They tout 2 successful exits out of 22, and feel compelled to say that one of those exits was "1.5 times the organization's initial investment". Seems like lackluster result rather than shining success.

2) They mention Atlantic Canada Opportunities Agency (a government agency?), that has "contributed $1 million to our organization". If it is a contribution, can this be viewed as another 11% (of the total $9M fund) on top of the 8% fee?