OCI — Ready 4 Market (R4M)
ON, Canada
Ontario's premier pre-seed investment fund designed to support early-stage Ontario-based technology start-ups in their growth into scalable businesses.
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
Loans and Capital investments
Partnering and Collaboration
grant_single|eligibleIndustries
- Information and cultural industries
- Professional, scientific and technical services
- Health care and social assistance
grant_single|grantors
- Ontario Centre of Innovation (OCI)
grant_single|status
grant_card_status|open
grant_single_labels|preview
Ready 4 Market (R4M) is Ontario’s premier pre-seed investment fund, designed to support early-stage Ontario-based technology start-ups with competitive IP aiming to commercialize transformative technologies. The fund co-invests up to $250,000 with private investors, facilitating the growth of start-ups into scalable businesses that have an addressable market size of at least $100 million. Eligible companies must be incorporated for no more than five years, have principal operations in Ontario, and must have raised less than $1 million in third-party capital.
grant_single_labels|projects
This grant is specifically for companies based in Ontario, Canada. The eligible geographical location is tailored to support regional innovation and commercialization.
- Companies must have principal operations in Ontario, Canada.
grant_single|admissibleProjectsExample
$250,000
Building an IoT-based smart irrigation system for urban farming
$250,000
Launching a software platform for remote telehealth consultations targeting elderly patients
$250,000
Developing AI technology to streamline logistics for ecommerce platforms
$250,000
Introducing a blockchain-based platform for supply chain transparency in the fashion industry
$250,000
Developing biodegradable packaging solutions for the agricultural sector
$250,000
Developing a virtual reality training program for healthcare professionals
grant_single_labels|admissibility
Eligibility for the Ready 4 Market grant is determined based on specific criteria targeting early-stage technology companies within Ontario.
- The applicant must be an early-stage start-up based in Ontario.
- The start-up must have intellectual property originating from an Ontario-based academic institution or be part of a campus incubator/accelerator.
- The company must be incorporated for no more than five years, either as Ontario or Canadian for-profit incorporation, with principal operations in Ontario.
- The company must have raised less than $1 million in third-party capital.
- The investment sought should be part of a pre-seed or seed investment round, with total round sizes ranging from $500,000 to $2 million.
- There must be private sector co-investment involved.
- The market size of the company's addressable market must be at least $100 million.
grant_eligibility_criteria|who_can_apply
The Ready 4 Market (R4M) fund is designed for early-stage Ontario-based technology companies with strong intellectual property (IP) that are raising pre-seed and seed investments. Companies must meet the following requirements to be eligible to apply:- Originated from academic institutions such as universities, colleges, or research hospitals, and could be part of a campus incubator or accelerator. Companies spun out from these institutions are also eligible.- Must be a for-profit corporation incorporated for no more than five years and have their principal operations in Ontario.- Should have raised less than $1 million in third-party capital to be eligible for their first R4M investment.- Require a minimum addressable market size of $100 million and must demonstrate long-term competitiveness, a unique value proposition, and the capacity to scale.- Need private sector co-investment since R4M requires co-investment to de-risk the company's business opportunity.- Undergo a rigorous due diligence and selection process conducted by R4M, which evaluates companies based on their growth potential and business scalability.These criteria ensure that the fund targets businesses with a strong foundation and high potential for growth, thereby maximizing the impact of investments and fostering economic development in Ontario.
grant_eligibility_criteria|who_cannot_apply
This grant does not specify ineligible companies or industries by their status or main activity. Additionally, the program has limited explicit restrictions outlined.
grant_eligibility_criteria|eligible_expenses
Ready 4 Market supports early-stage companies in Ontario by co-investing in the commercialization of transformative technologies. Companies benefit from de-risking investment opportunities, strategic growth support, and access to further investments.
- Co-investment in early-stage start-ups focused on transformative technologies.
- Support for companies with strong intellectual property based in Ontario.
- Assistance in becoming investor and customer ready.
- Facilitation of scalable business growth in various technology sectors.
grant_eligibility_criteria|zone
Eligible geographic zones for this grant include Ontario, Canada. Companies must have principal operations in Ontario.
- Ontario, Canada
- Principal operations in Ontario
grant_single_labels|criteria
The evaluation and selection of projects for the Ready 4 Market grant are rigorously conducted based on a detailed set of criteria to ensure the competitiveness and scalability of the funded companies.
- Long-term competitiveness of the company.
- Strong intellectual property holdings.
- Unique value proposition of the technology or product.
- Capacity for scaling the business.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Determine Eligibility
- Review the fund guidelines to ensure your start-up qualifies based on the criteria provided.
- Step 2: Express Interest
- Complete the Interest Form available on the program's website to express your interest in the fund.
- Consider reaching out to an Investment Lead for preliminary discussions.
- Step 3: Prepare Application Materials
- Gather necessary documentation showcasing competitive IP, value proposition, market potential, and scalability.
- Ensure you have private sector co-investment lined up.
- Step 4: Contact Investment Lead
- Email Mandhir Kalia or Sharon Sukhdeo for additional information or guidance on your application: mkalia(at)oc-innovation(dot)ca or ssukhdeo(at)oc-innovation(dot)ca.
- Step 5: Submit Application
- Follow the specific instructions communicated during your engagement with the investment leads on how to submit your full application.
grant_single_labels|otherInfo
Ready 4 Market (R4M) is Ontario’s leading pre-seed investment fund, co-investing with angel and other investors in early-stage Ontario-based start-ups with competitive IP. The fund targets a minimum addressable market size of $100M, with investment sizes ranging from $500,000 to $2 million.
- R4M supports early-stage technology companies raising pre-seed and seed investment rounds.
- Investments are up to $250,000, with total round sizes ranging from $500,000 to $2 million.
- Eligibility criteria include a minimum addressable market size of $100M.
- Private sector co-investment is required.
- Companies undergo a rigorous due diligence and selection process.
- Companies are evaluated on long-term competitiveness, strong IP, unique value proposition, and capacity to scale.
- OCI has invested in over 200 companies to date.
- OCI supports early-stage companies that are raising pre-seed and seed investments.
- Companies must be incorporated for no more than five years and have their principal operations in Ontario.
- Companies that have raised less than $1 million in third-party capital are eligible for their first R4M investment.
- OCI Ready for Market (R4M) Portfolio companies are not eligible for investment via the Life Sciences Innovation Fund (LSIF).
Apply to this program
Invest in Up-and-Coming Ontario Start-ups
Ready 4 Market (R4M) offers a vital investment opportunity for early-stage technology companies in Ontario looking to scale their innovative ideas into substantial business ventures. With up to $250,000 available per investment, this fund is pivotal for start-ups aiming to commercialize transformative technologies and attract further private investment.
Understanding Ready 4 Market and Its Role in Ontario’s Innovation Ecosystem
Ready 4 Market is a distinguished pre-seed investment fund in Ontario, managed by the Ontario Centre of Innovation (OCI). This fund is specifically tailored to support Ontario's early-stage technology companies that are on the cusp of launching transformative technologies. These start-ups are typically characterized by their competitive Intellectual Property (IP) and their capacity to scale significantly within the industrial landscape. The R4M initiative underscores the Ontario government’s commitment to fostering innovation and business development through strategic co-investments. These investments serve not only to mitigate risks for new ventures but also to prepare these companies for investor engagement and commercial viability. The investment fund demands strong evidence of potential, such as a minimum addressable market size of $100 million, aligning with robust long-term growth strategies. The emphasis is on unlocking opportunities for start-ups that originate from academic institutions or campus-related incubators and have significant roots in research-based innovations, often referred to as university spin-outs.
This fund’s operational framework is built around fostering partnerships between state and private sectors, with OCI investing alongside angel investors and other private entities. Companies seeking R4M funding engage in a meticulous selection process, during which they are evaluated on various parameters including their unique value propositions and the robustness of their intellectual assets. This selective approach ensures that only the most promising ventures receive support, optimizing the efficacy of each dollar invested. With hundreds of companies vying each year, only about 20 receive funding, reflecting the competitive nature of the selection process.
The fund’s contributions to the local economy extend beyond mere financial support. By requiring co-investment from private sectors, R4M catalyzes further investment, generating broader economic ripples across Ontario's tech sectors. This synergy has seen OCI invest in over 200 companies, marking R4M as a keystone in provincial economic strategy.
Administratively capped at five years of incorporation, eligible candidates are those who have garnered less than $1 million in third-party capital prior to R4M's engagement. This ensures that the fund is effectively targeting start-ups at a critical stage of their development, providing them with the financial thrust necessary to spur growth and innovation.
In the broader context of Ontario’s innovation ecosystem, R4M forms part of a suite of programs under OCI's purview, each designed to enhance the competitiveness and market presence of Ontario-based companies. Other initiatives such as the TalentEdge Internship Program, Digitalization Competence Centre, and Collaborate 2 Commercialize further underscore OCI’s holistic approach to business development, industry-academia collaboration, and workforce integration. Through these efforts, OCI is not only bolstering individual companies but also enhancing the province’s overall economic health by prioritizing projects with scalable impacts.
To conclude, Ready 4 Market not only offers financial assistance but serves as an incubator for ideas, fostering young companies with the potential to push Ontario to the forefront of the global technology landscape. By encouraging innovative use of intellectual property and promoting scalable business models, R4M aids these ventures in overcoming early-phase challenges and sets the stage for enduring economic contributions. For start-up founders wishing to leverage this opportunity, reaching out to an OCI investment lead to assess alignment and suitability would be an essential step towards securing pivotal support.
