Innovation Factory — Support for Startups
Canada
Support for innovative startups
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|openingDateDecember 14, 2022
grant_single|financingType
Expert Advice
grant_single|eligibleIndustries
- Information and cultural industries
- Professional, scientific and technical services
- Administrative and support, waste management and remediation services
- Educational services
- Health care and social assistance
- Other services (except public administration)
grant_single|grantors
- Innovation Factory
grant_single|status
grant_card_status|open
grant_single_labels|preview
Receive assistance to start and develop an innovative business through coaching and mentoring, value propositions, market intelligence, pitch training, business planning, operational analysis and more.
grant_single_labels|projects
The specific eligible geographical areas for companies applying for support from Innovation Factory are not explicitly mentioned in the provided context. Applicants may need to directly contact Innovation Factory for precise eligibility criteria based on location.
grant_single|admissibleProjectsExample
$50,000
Developing a mobile app for mental health support
$72,000
Launching an eco-friendly fashion line
$55,000
Creating an online platform for indigenous art sales
$60,000
Setting up a recycling hub in urban areas
$60,000
Launching an innovative fintech platform for small businesses
$70,000
Expanding a sustainable farming cooperative's operations
grant_single_labels|admissibility
To qualify for this grant, businesses need to meet certain stages of development and access various resources and support services offered by Innovation Factory.
- Must be in one of the following stages: Idea, Discovery, Validation, Efficiency, or Scale
- Eligibility for specific services and programs depends on the stage of business development
- Must be able to apply for and become a client of Innovation Factory
- Access to business advisory services, workshops, networking opportunities, expert referrals, and mentorship based on business stage
grant_eligibility_criteria|who_can_apply
Innovation Factory's program is tailored to support businesses at various stages of growth, from ideation to scaling. It is particularly aimed at startups and businesses that are innovative, seeking to commercialize unique ideas and expand into new markets. The program offers comprehensive support through advisory services, workshops, networking, and access to funding opportunities. Thus, any business in its formative stages looking to grow and innovate is encouraged to apply and participate in their services.
grant_eligibility_criteria|eligible_expenses
This grant facilitates the growth and advancement of start-ups through advisory services and specialized programs during different stages of business development. Eligible activities extend across idea exploration, business model validation, efficiency optimization, and scaling operations.
- Access to business advisory services during the initial idea stage to identify problems and develop solutions.
- Guidance and support during the discovery stage to experiment and validate business models and opportunities.
- Networking opportunities with investors, industry experts, and peers to foster collaborative growth and connections.
- Participation in pitch development and competition opportunities for business idea validation and exposure.
- Investor-readiness training to prepare businesses for funding and growth phases.
- Support for talent acquisition and development during the efficiency and scale stages.
- Access to exclusive funding opportunities and financial modeling support.
- Engagement with strategic referrals and expert mentorship for scaling businesses and exploring new markets.
grant_eligibility_criteria|zone
The eligible geographic zones for this grant are Hamilton and Halton in Ontario, Canada.
- Hamilton, ON
- Halton, ON
grant_single_labels|criteria
- Evaluation of business idea and its potential for innovation
- Viability and scalability of the proposed business model
- Demonstrated market need and target market analysis
- Evidence of traction and potential for global expansion
grant_single_labels|register
- Step 1: Apply to Become a Client
- Visit the Innovation Factory website to access the application form.
- Complete the application form with your business details and submit it to become a client of Innovation Factory.
- Step 2: Engage in Advisory Services
- Once approved, utilize the business advisory services offered at your relevant business stage (Idea, Discovery, Validation, Efficiency, or Scale).
- Attend the appropriate workshops, webinars, and networking opportunities to further refine and validate your venture.
- Step 3: Access Funding and Resources
- As your business progresses, engage with Advisors at Innovation Factory to explore exclusive funding opportunities and resources tailored to your needs.
- Utilize strategic referrals, explore pitch competitions, and develop your investor-readiness.
- Step 4: Collaborate with Innovation Advisors
- Work closely with an Innovation Advisor who will provide strategic guidance throughout your participation with Innovation Factory.
- Leverage their expertise to make key strategic connections and develop a personalized growth plan.
- Step 5: Submit Application for Pitch Competitions (if applicable)
- If eligible, apply to participate in Innovation Factory’s signature pitch competitions to gain additional exposure and win prizes.
- Prepare a comprehensive pitch with the support of your Innovation Advisor and refine your delivery through available training and mentorship.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- Successful applicants may participate in iF’s signature pitch competitions for visibility and potential prizes.
- Access to specialized programs is offered to help businesses from idea through scale stages.
- Innovation Advisors will guide selected businesses through each stage of development.
- Networking opportunities are provided with industry peers, experts, and potential investors.
- Participants have access to drop-in office spaces and collaborative environments.
- Businesses can gain international market direction and assistance with global expansion strategies.
- Support includes developing investor-readiness and securing strategic referrals.
- Customized advisory services aim to address specific challenges and strategic goals.
grant_single_labels|contact
905-667-2611
Apply to this program
Unlock Business Growth with Innovation Factory Opportunities
Innovation Factory supports diverse businesses at every stage of their development journey through a variety of tailored services and resources, fostering growth, creativity, and market success. This service ecosystem offers invaluable support, from idea conceptualization to scaling operations, ensuring businesses can thrive and expand effectively.
Comprehensive Support and Strategic Guidance for Business Growth
Innovation Factory provides a comprehensive array of services aimed at empowering businesses to achieve their full potential. Businesses in the initial stages can benefit from problem identification support and prototyping direction, which are crucial for fine-tuning emerging ideas and meeting market needs effectively. By engaging with iF, businesses team up with commercialization experts who offer strategic advice on navigating the complexities of turning innovative ideas into successful products.
In the Discovery and Validation stages, iF matches entrepreneurs with Innovation Advisors who bring clarity and strategic insight, helping refine business models and conduct essential market validation. This mentorship and strategic partnership help businesses mitigate risks and align their offerings with market demands. Clients can participate in workshops and leverage networking opportunities, fostering connections with investors and industry peers, essential for broadening market reach and accelerating growth.
As businesses progress to the Efficiency and Scale stages, the focus shifts to operational streamlining, enhancing productivity, and expansion into new markets. Innovation Factory offers specialized training in investor-readiness, financial modeling, and growth coaching, equipping businesses with the skills and knowledge needed to attract investment and manage complex operational demands. This comprehensive approach ensures businesses are not only prepared for immediate challenges but also positioned for future success and scalability.
Moreover, Innovation Factory's prestigious pitch competitions provide a platform for businesses to showcase their innovations to influential judges and investors, securing funding and recognition that propel their ventures forward. By participating, startups can refine their pitches and gain visibility, paving the way for significant market entry and influencing industry trends.
Additionally, iF offers valuable resources in intellectual property management and legal strategies, enhancing business security and laying a strong foundation for sustainable development. Training programs, peer networks, and targeted mentorship bolster entrepreneurial capabilities, creating a vibrant ecosystem of innovation and collaboration. This comprehensive support is tailored to meet the unique needs of each business, ensuring optimal growth trajectories and transformative success stories.
Through its robust accelerator programs like the Start-up Visa Program, Innovation Factory not only supports Canadian businesses but also invites global innovators to establish their enterprises in Canada, integrating international visionaries into the dynamic national innovation landscape. Engaging with iF thus opens up a world of opportunities, offering strategic insight, practical support, and a community of like-minded innovators driving forward transformative change.
