MaRS Growth Acceleration Program
ON, Canada
Support for executives of scaling, high-growth companies
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Expert Advice
grant_single|eligibleIndustries
- Information and cultural industries
- Finance and insurance
- Professional, scientific and technical services
- Health care and social assistance
grant_single|grantors
- MaRS Discovery District
grant_single|status
grant_card_status|open
grant_single_labels|preview
Access multi-sector support for executives of scaling, high-growth companies on your way to reaching $20 million in revenue through 1:1 expert advisory on topics including revenue and growth strategy, talent and people strategy, international expansion, a
grant_single_labels|projects
This grant is tailored for companies incorporated within Canada, drawing support from both the Province of Ontario and the Government of Canada. As such, eligibility is geographically tied to Canadian incorporation and presence.
- Companies incorporated within Canada.
grant_single|admissibleProjectsExample
$40,000
Implement an international expansion strategy for a food cooperative
$30,000
Develop a comprehensive talent and people strategy for a high-growth tech startup
$70,000
Develop a new product line and marketing strategy for a consumer goods company
$35,000
Create a revenue and growth strategy for a social enterprise focused on mental health
$40,000
Expand a local artisanal bakery with a focus on niche markets
$25,000
Enhance digital marketing and sales strategies for a regional export business
grant_single_labels|admissibility
Eligibility for the MaRS Growth Acceleration Program is determined by specific requirements related to the applicant's company profile.
- Your company is incorporated in Canada.
- Your company has developed an innovative technology.
- Your company is in one of the four sectors MaRS supports: cleantech, health, fintech or enterprise software.
- You have annual recurring revenue of $5-15 million or $15-50 million total funding raised for biotech, hardtech or equivalent and have the ambition to grow to $20M in revenue within the next three years.
- Have a product in the market with strong customer demand.
- Building go-to-market capabilities or advance product trials with input from key partners.
grant_eligibility_criteria|who_can_apply
To apply for the MaRS Growth Acceleration Program (GAP), a company must meet the following eligibility criteria:- The company must be incorporated in Canada.- The company must have developed an innovative technology.- The company's operations should be within one of the four sectors MaRS supports: cleantech, health, fintech, or enterprise software.- The company should have an annual recurring revenue of $5-15 million or have raised $15-50 million in total funding (for biotech, hardtech or equivalent) and must aspire to achieve $20 million in revenue within the next three years.- The company must have a product in the market with strong customer demand.- The company should be focused on building go-to-market capabilities or advancing product trials with input from key partners.
grant_eligibility_criteria|eligible_expenses
The MaRS Growth Acceleration Program (GAP) offers support to entrepreneurs focusing on scaling their startup to achieve substantial growth in revenue. The program includes tailored activities aimed at enhancing various aspects necessary for business scaling and market expansion.
- Strengthening go-to-market strategy to enhance value proposition.
- Optimizing pricing models to maximize profitability and competitiveness.
- Developing scalable and repeatable sales processes and building high-performing teams.
- Leveraging PR and branding opportunities to showcase company stories.
- Attracting top talent through building a desirable company culture and recruitment processes.
- Achieving sustainable growth by expanding into new international markets.
- Accessing insights and data on financial, operational, and market metrics to support company growth.
- Positioning the company to attract investors and strategic partners.
grant_single_labels|criteria
The MaRS Growth Acceleration Program does have evaluation and selection criteria. The program is tailored for Canadian companies in specific sectors with annual recurring revenue or total funding raised, aiming to grow to $20 million in revenue within three years. The criteria include having innovative technology, market traction, and go-to-market capabilities.
- Company is incorporated in Canada
- Company operates in cleantech, health, fintech, or enterprise software sectors
- Annual recurring revenue of $5-15 million or $15-50 million total funding for biotech/hard tech
- Strong customer demand for products
- Building go-to-market capabilities or advancing product trials
grant_single_labels|register
Here are the steps to submit an application for the MaRS Growth Acceleration Program:
- Step 1: Evaluate Eligibility
- Ensure your company is incorporated in Canada and in one of the sectors MaRS supports: cleantech, health, fintech, or enterprise software.
- Confirm that your company meets the revenue and growth ambitions requirements.
- Step 2: Prepare Application Materials
- Prepare evidence of your company's innovative technology and market traction.
- Compile documents demonstrating your go-to-market capabilities and customer demand.
- Step 3: Submit Inquiry
- Contact MaRS through their official communication channel to express interest.
- Request additional information about the program and application procedures, if needed.
- Step 4: Application Submission
- Submit your application once all materials are prepared and eligibility is confirmed.
- Ensure any submission follows MaRS guidance and timelines as communicated.
- Step 5: Receive Feedback
- Await feedback or further instructions from the MaRS program team on next steps.
- Engage with the MaRS team for any clarifications if invited.
grant_single_labels|otherInfo
The Growth Acceleration Program (GAP) at MaRS offers unique support structures and benefits for participating companies.
- The program emphasizes personalized and flexible support tailored to the specific needs and priorities of the business.
- Participants can utilize the expert guidance of seasoned business leaders, including those with proven success in scaling startups and significant industry experience.
- Access to a network of peers and mentors in the business ecosystem is available, providing opportunities for learning and collaboration.
- There is a focus on developing a scalable sales process, optimizing pricing models, and refining value propositions to maximise business growth potential.
- Program participants have opportunities to enhance their public relations and branding efforts to better position themselves in the marketplace.
- Guidance is provided for international market expansion and capturing new market segments.
- The program is designed to be a long-term, strategic partnership rather than a short-term program.
- There is no fee required to participate in the program, making it accessible to companies that meet the eligibility requirements.
Apply to this program
Accelerate Your Startup to High-Growth Success
The MaRS Growth Acceleration Program is designed to help Canadian startups navigate the path from initial launch to achieving substantial revenue milestones, with comprehensive support from industry leaders. This initiative focuses on providing tailored guidance and resources, enabling entrepreneurs to refine strategies and optimize processes for sustainable growth.
Deep Dive into the MaRS Growth Acceleration Program
The MaRS Growth Acceleration Program (GAP) stands out as a premier initiative aimed at bridging the expansive journey from being a startup to leading a company that exceeds $20 million in revenue. This is more than just a support system; it’s a meticulously crafted ecosystem that thrives on real-world entrepreneurial experiences. Designed by successful entrepreneurs themselves, GAP offers startups in Canada a robust framework to scale up in an ever-competitive market.
One of the fundamental pillars of GAP is its commitment to offering a personalized experience. The program taps into an impressive roster of seasoned business leaders who don’t just advise but work closely with startups to face their unique challenges. Whether it’s helping to finetune a go-to-market strategy, optimize pricing models, or streamline sales processes, GAP ensures that participating startups have the tools they need to strategically enhance their operations. Personalized mentorship is a highlight, with leaders like Mike Abramsky and Kristina Cleary bringing in-depth market knowledge and strategic foresight to the table, helping startups navigate crucial business hurdles effectively.
Moreover, the Growth Acceleration Program prioritizes flexibility, respecting the unique timelines and needs of each startup. This adaptability allows companies to address pressing challenges while fostering a long-term growth mindset. It isn't just the executive heads that benefit; the entire team gains valuable insights through a network of peer advisors who offer relatable and actionable intelligence from their experiences. This holistic approach ensures that everyone involved is equipped with the know-how to push their startups past various growth barriers.
Expanding on the array of services, the program also focuses on significant aspects such as executing PR and branding strategies – a necessity in this age of digital narratives. By helping startups articulate and share their story, GAP aids in crafting a brand identity that resonates with potential investors, customers, and partners alike. Moreover, sessions led by experts like Tony Cascio and Avi Pollock delve into refining demand generation and building high-performing sales teams.
Another major advantage of participating in GAP is the opportunity it provides for international expansion. The program offers strategic insights on entering and growing in new markets, vital for startups aiming to achieve sustainable growth and capture new customer bases beyond local borders. It does so by pairing startups with mentors who can provide bespoke market entry strategies, leveraging their experiences in global expansion to safeguard against common pitfalls.
The structure of the program inherently promotes a culture of benchmarking and continuous improvement through comprehensive data insights on financial and operational metrics. Coupled with opportunities to meet investor and partner requirements, GAP positions companies for potential interest from major stakeholders, which is crucial for startups seeking to enter the public markets or secure late-stage financing.
Success stories from companies like Spotwork, BlueDot, and Plum underscore the transformative impact of GAP. The program has been instrumental in helping these ventures redefine market strategies, align products with customer needs, and establish scalable organizational practices. Testimonials from entrepreneurs across various sectors, including cleantech and fintech, attest to the tangible growth achieved through these tailored interventions.
In conclusion, the MaRS Growth Acceleration Program is a beacon for Canadian startups seeking to transition from modest beginnings to significant market players. By offering tailored, flexible support and privileged access to a network of business leaders, it guides entrepreneurs through the intricacies of scaling, ensuring they are well-equipped to lead their ventures towards a promising future.
