Entrepreneurship@UBC Hatch

Eligibility for the HATCH Venture Builder is determined by specific criteria related to the team's composition, technology readiness, market traction, financial preparedness, and adherence to a code of conduct.

• The team must have a minimum of two committed members, with at least one member full-time, and a plan for the second to transition to full-time at an agreed milestone.
• The team must demonstrate self-determination, accountability, and progress on business milestones.
• The venture must be incorporated, have retained legal counsel and appropriate insurance, and have the beginnings of an advisory board.
• The product concept must be fully developed with a proof-of-concept in a simulated environment, at TRL Level 6 model or prototype.
• If the innovation is patentable, clarity on Freedom to Operate or path to protection must be established.
• There must be a clearly defined product-market fit and a problem definition validated with customer archetypes.
• The venture must determine whether its business model is based on product sales or partnerships.
• The team must have a sustainable business and financial model in place.
• The venture must have operating runway and a plan for growth trajectory.
• The team must have a vision for the venture's scalable strategy or "exit."

Who is eligible?

This grant is designed for interdisciplinary innovators at UBC who are building ventures with significant social, environmental, and economic impact. It supports teams at an advanced stage of development with a focus on commercialization and scaling.

• Interdisciplinary UBC venture teams with at least two committed members.
• Teams must have a full-time commitment from at least one member and a plan for the second member to transition to full-time.
• Ventures must be incorporated, with legal counsel and initial advisory boards in place.
• Products must be at Technology Readiness Level (TRL) 6, with proof-of-concept in a simulated environment.
• Clear path to patent protection if applicable.
• A well-defined product-market fit validated with customer archetypes.
• Sustainable business model and financial planning established.
• Vision for scalable strategy or exit included in the team's growth plan.
• Adherence to the venture program's code of conduct required.

Eligible expenses

The HATCH Venture Builder grant supports projects led by interdisciplinary innovators seeking to drive social, environmental, and economic impact through venture creation. Eligible projects focus on reaching transformative commercial goals and leveraging cutting-edge resources and mentorship provided by entrepreneurship@UBC and ICICS.

• Projects aiming to close a Seed or Series A investment round.
• Initiatives working towards completing major commercial partnerships.
• Ventures striving for repeatable sales or significant market traction.
• Efforts leading to asset or company acquisition transactions.
• Projects utilizing ICICS's makerspace for technical de-risking and innovation development.
• Initiatives building first teams and gaining initial customer relationships or investor support.