Innovation Factory — Support for Startups

This grant offers various stages of business advisory services and networking opportunities, rather than traditional financing modalities. It provides support through mentorship, access to strategic resources, and participation in pitch competitions for funding.

• Networking opportunities with investors, experts, and peers across various stages of business growth.
• Participation in pitch competitions with opportunities to win cash and prizes.
• Access to exclusive funding opportunities through business validation stages.
• Strategic and investor referrals to aid business scale and growth.
• Comprehensive support in early-stage fundraising direction.

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

Who is eligible?

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.

Eligible geographic areas

This grant is designed to support startups located within specific regions actively linked to the Innovation Factory’s ecosystem. The eligible areas include cities in a close vicinity to Innovation Factory’s main office locations in Ontario, Canada.

• Hamilton, Ontario
• Burlington, Ontario

• 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

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.