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|projects
This grant is specifically for companies that are incorporated in Canada, with a focus on those establishing or planning to establish a long-term presence in Southern Ontario. Eligibility is determined based on the company's location and its plans for strategic regional presence.
- Companies incorporated in Canada.
- Companies planning to establish a long-term presence in Southern Ontario.
grant_single|admissibleProjectsExample
$150,000
Creating innovative medical sensors using advanced microelectronics
$200,000
Development of a high-performance computing chip for AI applications
$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
Southern Ontario
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.
Apply to this program
Empowering Innovation in Hardware and Semiconductor Ventures
The Hardware Catalyst Initiative is a pioneering program dedicated to advancing Canada's silicon and hardware sectors by providing comprehensive support to companies for up to two years. This initiative uniquely offers access to world-class facilities, mentorship, and a solid network without any financial or equity obligations.
Diving Deep into the Hardware Catalyst Initiative
The Hardware Catalyst Initiative, spearheaded by ventureLAB, stands out as Canada's foremost program specifically tailored for hardware and semiconductor companies. Designed to bridge the gap between concept and commercialization, this initiative offers an intensive advisory program lasting up to 24 months. During this time, participating companies gain substantial support in crucial areas such as customer acquisition, product development from proof-of-concept to production, building robust intellectual property (IP) strategies, and recruiting and retaining top-tier talent.
This initiative operates in recognition of the unique hurdles faced by hardware founders, who often contend with scarce capital, lengthy development cycles, and complex technical requirements. By providing access to a state-of-the-art $11 million Hardware Lab and free workspace in Markham, Ontario, the program allows businesses to significantly reduce operational costs while accelerating their product development processes. The facility is open 24/7, enabling continuous progress on prototypes and testing, which is crucial for maintaining development momentum.
Furthermore, the initiative foregoes any equity requirement, meaning businesses can retain full ownership and control over their operations and strategies. The Hardware Catalyst Initiative is thus particularly advantageous for startups that aim to scale without diluting ownership. Companies enrolled in the program receive unparalleled support from ventureLAB's panel of experienced advisors and gain access to a global network of over 35 partners, allowing them to forge meaningful connections with industry leaders, potential investors, and fellow innovators.
The program emphasizes not just technical development, but also strategic business growth. This includes crafting financial plans that project revenue growth and expenditures accurately, along with developing engaging pitches to captivate investors. Participant companies are encouraged to devise comprehensive customer engagement strategies, focusing on interacting with and learning from early adopters to refine their products iteratively. Talent acquisition is another cornerstone of the program, ensuring that businesses onboard individuals who can drive their vision forward.
A significant attribute of the Hardware Catalyst Initiative is its inclusive approach. Canadian incorporation and a commitment to developing a long-term presence in Southern Ontario are prerequisites, thereby encouraging nationwide participation while fortifying the regional tech ecosystem. For foreign-controlled companies, establishing a Canadian entity ensures that intellectual property developed through the program remains protected within Canada. Such measures underscore the program's dedication to fostering a robust and sustainable technology landscape domestically and positioning Canadian hardware tools and semiconductor products on the global stage.
The journey within the Hardware Catalyst Initiative commences with a carefully structured application process, requiring the submission of an initial application which goes through thorough review stages by ventureLAB advisors. Only after rigorous vetting and selection are companies invited for presentations and, upon successful evaluation, they proceed to a two-month bootcamp. This initial phase is essential in setting the groundwork for the overarching development objectives and relationship building within the ventureLAB ecosystem.
Despite the application phase for this year's cohort being closed, companies are encouraged to express interest for future intakes, with plans for the next round commencing in 2025. This structured intake ensures that each cohort receives ample attention, resources, and personalized guidance, maximizing the potential for growth and breakthroughs.
In conclusion, the Hardware Catalyst Initiative not only offers a holistic approach to the challenges faced by hardware and semiconductor startups but also serves as a catalyst for innovation and growth. By participating in this program, companies not only gain critical resources and networks but also join a movement aimed at transforming the Canadian hardware landscape, enhancing its competitiveness on the international front.
