Entrepreneurship@UBC Hatch
BC, Canada
Incubator for University of British Columbia (UBC) innovators
grant_single|update January 24, 2025
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Researchers And Facilities
grant_single|eligibleIndustries
- Professional, scientific and technical services
grant_single|grantors
- University of British Columbia
grant_single|status
grant_card_status|open
grant_single_labels|preview
Combination of support, space, community and access to investment opportunities to help UBC entrepreneurs succeed.
grant_single_labels|projects
The HATCH Venture Builder program is designed to support entrepreneurial ventures striving for significant commercial milestones. Eligible projects focus on advancing ventures through strategic resources and networking opportunities.
- Projects aimed at securing capital, such as closing a Seed or Series A investment.
- Initiatives focused on completing major commercial partnerships.
- Efforts to achieve repeatable sales or establish solid product-market fit.
- Activities working towards an asset or company acquisition transaction.
- Efforts to technically de-risk innovations through access to makerspace facilities.
grant_single|admissibleProjectsExample
$ 100,000
Developing a solar energy solution for residential homes
$ 90,000
Launching a sustainable coffee shop employing marginalized individuals
$ 150,000
Opening a mental health wellness center for youth
$ 85,000
Creating an app for elderly care management
$ 60,000
Establishing an indigenous arts and crafts cooperative
$ 75,000
Creating an online platform connecting small farms with local consumers
grant_single_labels|admissibility
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."
grant_eligibility_criteria|who_can_apply
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.
grant_eligibility_criteria|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.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Assess Eligibility
- Ensure your team meets the specified eligibility criteria.
- Verify incorporation and legal status, team commitments, and technical readiness.
- Step 2: Prepare Application Materials
- Develop a detailed venture plan including business milestones and projected commercial goals.
- Compile relevant documents such as proof of incorporation, legal agreements, and evidence of technical and market validation.
- Step 3: Complete Application Form
- Fill out the application form provided by entrepreneurship@UBC or ICICS.
- Ensure all sections are accurately completed and required information is provided.
- Step 4: Submit Application
- Submit your completed application through the designated submission platform or email address provided by the program.
- Ensure submission is done before the application deadline.
- Step 5: Receive Confirmation
- Wait for a confirmation email acknowledging receipt of your application.
- Keep this confirmation for your records.
