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
- grant_single|allIndustries
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|terms_and_conditions
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.
grant_single_labels|projects
Innovation Factory — Support for Startups provides a wide array of services to support startups at various stages, from idea conception to scaling. Eligible activities for this grant include mentorship, networking, and development support for businesses across different growth phases.
- Access to business advisory services and workshops.
- Networking opportunities with investors, experts, and peers.
- Support for problem identification and early-stage prototyping.
- Customer discovery and business model canvas guidance.
- Sales and market training, including pitch development and competition opportunities.
- Financial modeling and early-stage fundraising guidance.
- Investor readiness training, including access to market intelligence.
- Strategic and investor referrals with growth coaching and later-stage fundraising guidance.
- Access to value-added resources and international market direction.
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
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
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
