Innovation Guelph — Rhyze Ventures Program
Canada
Business support for women entrepreneurs
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
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- grant_single|timelineUnspecified
grant_single|financingType
Other Support
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- grant_single|allIndustries
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- Innovation Guelph
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grant_card_status|open
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Business support program for women entrepreneurs in Ontario. Access online educational modules, practical hands-on project work, mentorship, and peer networking to address your company’s biggest business challenges. Participants will be a given chance to
grant_single_labels|projects
This grant is available to companies that are incorporated in Canada. The eligibility is based on the company's incorporation status within the country.
- Businesses incorporated anywhere in Canada.
grant_single|admissibleProjectsExample
$200,000
Launching an online platform for mental health coaching
$100,000
Expanding operations by opening a second boutique
$250,000
Implementing renewable energy solutions for coffee shops
$180,000
Scaling up a local organic food delivery service
$200,000
Enhancing digital marketing strategies for a local bookstore
$300,000
Establishing a tech incubator supporting female coding bootcamps
grant_single_labels|admissibility
Eligibility for this program is determined by specific requirements related to the company's leadership, incorporation, size, revenue, and growth intentions.
- The company must be women-led or women-owned or nonbinary-led or nonbinary-owned.
- The company must be incorporated in Canada.
- The company must employ less than five hundred staff.
- The company must generate a minimum of $200,000 in annual recurring revenue (ARR).
- The founder cannot be a consultant or solo entrepreneur with a service or retail outlet focused on selling locally and/or unable or unwilling to scale.
grant_eligibility_criteria|who_can_apply
The Rhyze Up! program is for women-led or women-owned or nonbinary-led or nonbinary-owned businesses. To be eligible, these companies must be incorporated in Canada, employ less than five hundred staff, generate a minimum of $200,000 in annual recurring revenue, and must not be consultancies or solo entrepreneurs focused on local retail or services, as well as being willing and able to scale. Additional criteria may be used to select the best-fitted companies, but not all specifics are detailed in the provided information.
grant_eligibility_criteria|who_cannot_apply
Certain types of companies are excluded from the Rhyze® Up! program primarily due to their business activities or company structure. This ensures that the program supports entrepreneurs who are ready and able to scale effectively.
- Consultants or solo entrepreneurs with a primary focus on local retail sales.
- Businesses unable or unwilling to pursue scaling opportunities.
grant_eligibility_criteria|eligible_expenses
The Rhyze® Up! program offers structured phases for business development, focusing on mentorship, project funding, and leadership coaching to support women-led companies in scaling their business operations. Entrepreneurs will benefit from guided growth strategies and collaboration with industry experts.
- Receive up to 15 hours of mentorship during the Discovery Phase to identify growth options for the company.
- Access funding and collaborate with industry specialists in the Traction Phase to tackle key growth challenges.
- Participate in fully funded one-on-one Leadership Coaching sessions throughout the program.
grant_eligibility_criteria|zone
The program offers specific funding for business scale-up services that may include expenses related to project implementation.
- Subsidy for project costs during the Traction Phase.
grant_single_labels|criteria
The Rhyze Up! Program has specific evaluation and selection criteria. To be considered for the program, companies must be women-led or women-owned, incorporated in Canada, employ less than five hundred staff, and generate a minimum of $200,000 in annual recurring revenue (ARR). Founders cannot be consultants or solo entrepreneurs with a local service or retail focus.
- Women-led or women-owned or nonbinary-led or nonbinary-owned
- Incorporated in Canada
- Employ less than five hundred staff
- Generating a minimum of $200,000 in annual recurring revenue (ARR)
- Founder cannot be a consultant or solo entrepreneur with a service or retail outlet focused on selling locally, and/or unable or unwilling to scale
grant_single_labels|register
- Step 1: Access Application Portal
- Visit the Rhyze® Up! Program webpage.
- Select the "Apply Now" option to access the application portal.
- Step 2: Complete the Application Form
- Fill out the application form in detail, providing information about you and your company.
- Step 3: Application Submission
- Submit the completed application form via the portal.
- Ensure all information is accurate before submission.
- Step 4: Await Contact
- Wait for two business days for someone from Boundless Accelerator to contact you regarding the next steps.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The Rhyze® Up! program's support is provided in part by the National Research Council Canada Industrial Research Assistance Program (NRC IRAP).
- The program is designed for companies that are beyond the initial startup phase and are ready to scale.
- The program emphasizes commitment to equity, diversity, and inclusion (EDI) in its approach and language.
Apply to this program
Empowering Canadian Women Entrepreneurs with Rhyze® Up!
The Rhyze® Up! program is specifically designed to support and elevate women entrepreneurs in Canada, offering them a unique pathway to scale and enhance their businesses through mentorship and financial assistance. This initiative aims to foster leadership, growth, and inclusivity, enabling women-led and nonbinary-led businesses to reach new heights of success.
A Thorough Overview of the Rhyze® Up! Program and Its Significance
The Rhyze® Up! initiative by Boundless Accelerator™ is a testament to the commitment towards nurturing women entrepreneurship across Canada by addressing the distinct needs of companies founded or co-founded by women. This national accelerator program is uniquely structured to provide growth-oriented support to these businesses, ensuring that they are adequately equipped to overcome barriers and expand effectively.
The comprehensive support provided through Rhyze® Up! is structured around a three-phase framework designed to facilitate meaningful growth and leadership development. In the first phase, known as the Discovery Phase, participants receive up to 15 hours of free mentorship. This crucial phase focuses on helping business leaders evaluate growth opportunities, assess market potential, and set strategic directions tailored to their specific organizational needs. The mentorship offered is valued at over $2,000 and is delivered at no cost to a selected group of eligible participants, ensuring immersive and invaluable guidance.
Following this foundational phase is the Traction Phase, where participating companies gain access to dedicated funding resources aimed at accelerating project implementation and addressing key challenges identified during the initial mentoring sessions. This phase represents a critical step in translating strategic plans into actionable and tangible outcomes. A substantial $5,000 subsidy supports approved projects, necessitating only a $1,400 contribution from the participants, thus significantly reducing financial barriers to scaling efforts. This phase is uniquely tailored to ensure that strategic insights are effectively implemented, thereby enhancing the company’s market positioning and growth trajectory.
Complementing the strategic and financial support is the program’s leadership coaching, which is another cornerstone of the Rhyze® Up! experience. Leadership coaching sessions run concurrently with other program elements, offering personalized guidance for developing effective leadership skills. These sessions are fully funded, providing extensive resources for cultivating strong leadership capabilities crucial to navigating complex business landscapes and fostering robust organizational culture.
Furthermore, Rhyze® Up! emphasizes an inclusive approach, welcoming women entrepreneurs across the vast spectrum of gender identity. This inclusivity not only ensures a diverse range of perspectives within the program but also reflects Boundless Accelerator’s ongoing commitment to equity, diversity, and inclusion (EDI) practices. Such a commitment underlines the program’s recognition of the need for broad inclusivity in cultivating a thriving entrepreneurial ecosystem.
Backed in part by the National Research Council Canada’s Industrial Research Assistance Program (NRC IRAP), Rhyze® Up! integrates government-supported initiatives with its core objectives, aligning public resources with entrepreneurial growth and innovation. This partnership reinforces the program’s capability to provide robust and meaningful support to women-led entrepreneurial ventures across the nation.
In conclusion, the Rhyze® Up! program represents a vital initiative aimed at propelling women entrepreneurs across Canada to newfound levels of achievement and business success. By providing vital resources, strategic support, and leadership development, this program ensures that women-led businesses are not simply surviving but thriving and expanding in a competitive market. The rigorous yet supportive structure of the Rhyze® Up! program is designed to cultivate a new wave of innovative, resilient, and successful enterprises led by women and nonbinary entrepreneurs.
