How much funding can be received?

Funds up to 10000% of admissible expenses.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the Innovation Guelph — Rhyze Ventures Program?

Innovation Guelph — Rhyze Ventures Program is funded by Innovation Guelph

What are Innovation Guelph — Rhyze Ventures Program's eligibility criterias?

Must be women-led or women-owned or nonbinary-led or nonbinary-owned. Must be incorporated in Canada. Must employ less than 500 staff and generate a minimum of $200,000 in annual recurring revenue (ARR).

Innovation Guelph — Rhyze Ventures Program

Last Update: January 24, 2025

Canada

Business support for women entrepreneurs

Innovation Guelph — Rhyze Ventures Program at a glance

Eligible Funding

From $5,000 to $10,000

Timeline

Continuous Intakes

Financing Type

Other Support

Eligible Industries

All industries

Grant Providers

Innovation Guelph

Status

Open

Overview of the Innovation Guelph — Rhyze Ventures Program program

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

Financing terms and conditions

This program provides financial support to facilitate the scaling of women-led and nonbinary-led businesses through mentorship, project funding, and leadership coaching. It combines direct financial support with expertise to overcome business growth barriers.

Financial support for business scale-up services ranges from $5,000 to $10,000.
The Discovery Phase offers up to 15 hours of fully funded mentorship with an estimated value of over $2,000.
In the Traction Phase, a $5,000 subsidy is available for approved projects, requiring a client contribution of $1,400.
Fully funded 1:1 Leadership Coaching sessions are incorporated throughout the program.

Eligible projects & activities

The Rhyze Ventures program supports projects that focus on scaling up women-led or nonbinary-led businesses, enhancing growth and profitability through structured phases. Each phase offers unique support designed to address different business growth challenges.

Phase 1: Discovery - Involves receiving up to 15 hours of fully funded mentorship to explore growth options for the company.
Phase 2: Traction - Provides funding assistance with a $5,000 subsidy for projects that tackle key growth challenges, requiring a client contribution of $1,400.
Leadership Coaching - Offers fully funded, one-on-one leadership coaching sessions to support personal development and leadership skills throughout the program.

Examples of admissible projects:

$ 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

$ 200,000

Enhancing digital marketing strategies for a local bookstore

$ 180,000

Scaling up a local organic food delivery service

$ 300,000

Establishing a tech incubator supporting female coding bootcamps

Eligibility criteria of the Innovation Guelph — Rhyze Ventures Program program

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.

Who is eligible?

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.

Who is not eligible

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.

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.

Eligible geographic areas

This program specifically targets companies that are incorporated in Canada. It is designed to support female and nonbinary entrepreneurs within the Canadian business ecosystem.

Incorporated companies within Canada.

Eligibility criteria of the Innovation Guelph — Rhyze Ventures Program program

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

How to apply to the Innovation Guelph — Rhyze Ventures Program program

Access Application Portal

Visit the Rhyze® Up! Program webpage.
Select the "Apply Now" option to access the application portal.

Complete the Application Form

Fill out the application form in detail, providing information about you and your company.

Application Submission

Submit the completed application form via the portal.
Ensure all information is accurate before submission.

Await Contact

Wait for two business days for someone from Boundless Accelerator to contact you regarding the next steps.

Additional information

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.