)
Hardware Catalyst Initiative
Canada
Hardware and semiconductor-focused products lab and incubator
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|openingDateJuly 26, 2023
- grant_single|closingDateAugust 28, 2023
grant_single|financingType
Expert Advice
grant_single|eligibleIndustries
- Manufacturing
- Transportation and warehousing
- Information and cultural industries
- Health care and social assistance
grant_single|grantors
- ventureLAB
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get access to a state-of-the-art hardware lab, as well as experienced experts and advisors to help you scale when building hardware and semiconductor-focused products, enabling the creation of transformative technologies that will power the products of to
grant_single_labels|terms_and_conditions
The Hardware Catalyst Initiative provides access to high-value resources and support without direct financial disbursements or equity commitments. The focus is on enabling technological and commercial growth for hardware and semiconductor companies in Canada.
- Access to a world-class $11 million Hardware Lab for prototyping and testing.
- Free workspace for up to 2 participants per company.
- Involvement with a global network of partners and mentors without any equity requirement.
grant_single_labels|projects
The Hardware Catalyst Initiative supports the development and commercialization of silicon and hardware-based innovations. Eligible activities are geared towards enhancing product development, customer engagement, and strategic growth.
- Development of product design and supply chain partnerships.
- Utilization of the Prototyping & Testing Lab for product development.
- Establishing an IP identification and strategic protection plan.
- Execution of a customer engagement program with early adopters.
- Financial planning focused on revenue growth and investor engagement.
- Talent acquisition and development planning.
grant_single|admissibleProjectsExample
$ 200,000
Development of a high-performance computing chip for AI applications
$ 150,000
Creating innovative medical sensors using advanced microelectronics
$ 175,000
Developing AI-powered wearables for health monitoring
$ 120,000
Developing a new energy-efficient semiconductor for eco-friendly power management systems
$ 150,000
Creating smart agricultural sensors for precision farming
$ 140,000
Creating biodegradable electronics for sustainable tech solutions
grant_single_labels|admissibility
Eligibility for the Hardware Catalyst Initiative is determined by specific criteria designed to support Canadian silicon and hardware companies.
- Company was founded within 5 years immediately preceding the application.
- Company earned less than $5M in revenue in the last 12 months.
- Directly involved in the development of a novel electronic product involving advanced elements such as a custom semiconductor, sensor, silicon-based IP or embedded system hardware.
- Has customer engagement that validates the need and demonstrates that the team can attract and work with customers.
- Company is incorporated in Canada.
- Has a CRA business number.
- Has 99 or fewer employees.
- Has a co-founding team (of at least 2 or more) capable of product development, customer acquisition, and investment acquisition.
- If located in Canada but not in Southern Ontario, the company has plans to establish a long-term presence in Southern Ontario.
- If a Canadian Corporation, all IP developed through the program will be assigned to the company.
- If a foreign-controlled company, a Canadian entity in Southern Ontario must be established prior to commencing the program, and all IP developed through the program must be assigned to the Canadian entity.
grant_eligibility_criteria|who_can_apply
The Hardware Catalyst Initiative is open to innovative growth and scale-stage hardware or enterprise software companies incorporated in Canada. Eligible companies must have been founded within 5 years before the application, earn less than $5M in revenue over the last 12 months, develop novel electronic products like custom semiconductors or silicon-based IP, have customer engagement, and a co-founding team capable of development and acquisition strategies. Additionally, if not located in Southern Ontario, the company must plan to establish a presence there. Companies should also have 99 or fewer employees. Foreign-controlled companies must set up a Canadian entity in Southern Ontario and assign IP developed through the program to this entity."
grant_eligibility_criteria|eligible_expenses
The Hardware Catalyst Initiative supports activities essential for the commercialization of hardware and semiconductor products. Eligible projects focus on product development, IP strategy, and customer engagement.
- Product design and development planning, including collaboration with design and supply chain partners.
- Utilization of ventureLAB's Prototyping & Testing Lab for product refinement.
- Development and execution of an IP identification and strategic protection plan.
- Engagement programs with early adopters to validate customer needs.
- Financial planning to support revenue growth and investment acquisition strategies.
- Talent acquisition planning to support company growth when applicable.
grant_eligibility_criteria|zone
This grant is available to companies located throughout Canada, with an emphasis on those planning to establish a presence in Southern Ontario. Eligible geographical areas are intended to support regional growth and innovation.
- Companies incorporated in Canada.
- Firms with plans to establish a long-term presence in Southern Ontario, if not already based there.
grant_single_labels|criteria
The evaluation and selection of projects for the Hardware Catalyst Initiative grant are not explicitly detailed in the provided context.
grant_single_labels|register
Here are the steps to submit an application for this program:
- Step 1: Submit Your Application
- Complete the application form available through the ventureLAB website.
- Step 2: Initial Review
- Your application will be reviewed by a team of advisors and experts.
- Expect outreach for further details or conversations if needed.
- Step 3: Presentation Invitation
- If your application passes the initial review, you will be invited to present to a panel for further consideration.
- Step 4: Panel Evaluation
- Present your case to a panel after submissions close.
- Step 5: Notification of Status
- You will be notified of your application's status within 6 weeks of submission closure.
- Step 6: Bootcamp Participation
- Successful candidates participate in a 2-month Hardware Catalyst Initiative Bootcamp.
- Establish relationships with the ventureLAB team and partners to lay a foundation for the program.
- Step 7: Recommendations Provision
- ventureLAB will provide recommendations for suitable programs and services for all applicants.
grant_single_labels|otherInfo
Here are additional relevant details for this program:
- The Hardware Catalyst Initiative is offered at no cost to the participating companies and does not require equity.
- The program offers a comprehensive advisory service designed to aid founders in overcoming challenges like limited capital, long lead times, and the lack of technical expertise.
- There is an opportunity for participants to utilize a $11M Hardware Lab and free workspace, with access for up to two representatives per company.
- Participants gain access to a global network of partners and dedicated in-house advisors.
- There is a 2-month Bootcamp for successful candidates to prepare for the full program.
- The ventureLAB facility offers a Prototype & Testing Lab subscription service for non-participants as well.
- ventureLAB provides tailored guidance and builds a network in a growing global community of various industry stakeholders.
