Fast-Track to Financing Program
Canada
Funding to engage an expert
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateSeptember 01, 2021
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
- Manufacturing
- Administrative and support, waste management and remediation services
- Health care and social assistance
grant_single|grantors
- Natural Products Canada (NPC)
grant_single|status
grant_card_status|open
grant_single_labels|preview
If you're a Canadian incorporated SME, start-up company, or academic research institute, you can get a contribution of up to $25,000 to cover up to 40% of the cost of an external consultant or other service provider that will help develop a business or co
grant_single_labels|projects
Projects or activities eligible for this grant should focus on developing strong business or commercialization plans to attract public financing or private investment for natural products or technologies with potential market growth. Eligible projects must align with the guidelines outlined for the Fast-Track to Financing Program.
- Natural product or technology development
- Market analysis and growth potential assessment
- Business or commercialization plan creation
- Engagement of experts to strengthen plans
- SMEs, start-up companies, and academic research institutes
grant_single|admissibleProjectsExample
$25,000
Vancouver
Creation of a commercialization plan for a new biotech innovation
$12,000
Montreal
Developing a market analysis for a new eco-friendly cleaning product line
$25,000
Calgary
Creation of a financial plan for a new renewable energy technology
$20,000
Toronto
Developing a commercialization plan for a new biodegradable packaging technology
$16,000
Vancouver
Creating a business plan for a new herbal supplement targeting mental wellness
grant_single_labels|admissibility
In order to be eligible for the Fast-Track to Financing Program grant, applicants must be Canadian incorporated SMEs, start-up companies, or academic research institutes with novel natural products or technologies that align with NPC's definitions and fit within established Technology Readiness Levels (TRL) 4-9. Additional eligibility requirements include potential for significant economic, social, health, or environmental benefits, technical feasibility of the project, and alignment with Canada's Natural Product Innovation Cluster.
- Applicant must be a Canadian incorporated SME, start-up company, or academic research institute.
- Product or technology must align with NPC's definitions of natural products or technologies and fit within TRL 4-9.
- Potential for significant economic, social, health, or environmental benefits.
- Technical feasibility of the project.
- Alignment with Canada's Natural Product Innovation Cluster.
grant_eligibility_criteria|who_can_apply
Summary: The Fast-Track to Financing Program is open to Canadian SMEs, start-up companies, and academic research institutes.
- Canadian incorporated SMEs
- Start-up companies
- Academic research institutes
grant_eligibility_criteria|eligible_expenses
Eligible expenses for this grant include costs related to engaging external experts to assist in strengthening or revising the business or commercialization plan. These expenses may cover components such as market analysis, regulatory planning, IP strategy, financial planning, production planning, and sustainability assessment.
- Market, Customer, & Competitive Analysis
- Value Proposition
- Regulatory Plan
- IP Plan
- Financial Plan
- Production Plan
- Sustainability assessment
grant_single_labels|criteria
There are evaluation and selection criteria for this grant. The applicants are evaluated based on the novelty of the natural product or technology, market opportunity, business model/commercialization strategy, competitors, strength of the management/research leadership team, need for the business or commercialization plan, anticipated outcomes, and statement of work(s) and qualifications of the selected expert(s).
- Novelty of the natural product or technology
- Market opportunity
- Business model/commercialization strategy
- Competitors
- Strength of the management/research leadership team
- Need for the business or commercialization plan
- Anticipated outcomes
- Statement of work(s) and qualifications of the selected expert(s)
grant_single_labels|register
- Step 1: Contact NPC at programs@naturalproductscanada.com if interested in the program.
- Step 2: Review the Minimum Eligibility Requirements and the potential project scope with an NPC team member.
- Step 3: If eligible, submit an application for the program.
- Step 4: Applications will be evaluated based on criteria such as novelty of the product, market opportunity, business model, team strength, and more.
- Step 5: Receive feedback on the application, revise if needed, and await final funding decision from NPC Executive Management.
- Step 6: Applicants will be notified of the funding decision and next steps in the process.
Apply to this program
Fast-Track to Financing Program Summary
The Fast-Track to Financing Program by Natural Products Canada supports Canadian SMEs, start-up companies, and academic research institutes in creating strong business or commercialization plans to attract public financing or private investment for the development of natural products or technologies.
Fast-Track to Financing Program Details
The Fast-Track to Financing Program focuses on assisting projects in the natural products or technologies sector (TRL 4-9) that have the potential for significant economic, social, health, or environmental benefits in Canada. Eligible applicants can receive funding of up to 40% of expert costs (capped at $25,000) to develop business plans aligning with NPC's criteria, and must meet specific eligibility requirements. The program application process involves an eligibility assessment, submission, evaluation based on various criteria, notification of funding decision, and confidentiality of application information. Successful applicants receive non-repayable funding, adhere to reporting and stacking rules, and may be subject to a project administration fee.
