Innovation Guelph — Rhyze Ventures Program

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.

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?

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.

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

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.