Business Incubation & Commercialization Grant Program
Last Update: January 24, 2025
Toronto, ON
Supports Toronto-based incubators fostering entrepreneurship and job creation
Business Incubation & Commercialization Grant Program at a glance
Eligible Funding
- Max. $100,000
- Up to 20% of project cost
Timeline
- Receipt of requests is now closed
Financing Type
Grant and Funding
Eligible Industries
- All industries
Grant Providers
- City of Toronto
Status
Closed
Overview of the Business Incubation & Commercialization Grant Program program
The Business Incubation and Commercialization Grant Program offers financial support to not-for-profit organizations focusing on business formation, innovation, and job creation in Toronto, with maximum funding up to $100,000. Eligible activities include robust entrepreneurship programming, incubation, and acceleration efforts in alignment with the City of Toronto’s goals of access, equity, and inclusion.
Financing terms and conditions
This grant has structured financing modalities designed to support not-for-profit entrepreneurship, incubation, and accelerator activities, with specific parameters for funds disbursement and usage limits.
- Up to 20% of eligible expenses covered for the Multi-Year Operating stream, with a maximum limit of $100,000.
- For programs, up to 50% of eligible expenses reimbursed, not exceeding $20,000.
- Event funding covers up to 50% of eligible expenses, capped at $10,000.
- Grants are generally disbursed in two parts: 75% upfront, with the remaining 25% upon completion, except for event grants which are paid in one-time payment.
- Organizations must demonstrate financial sustainability through audited financial statements or comprehensive budgets, depending on the stream.
Eligible projects & activities
The Business Incubation & Commercialization Grant Program supports a diverse range of activities aimed at fostering entrepreneurship and innovation in Toronto. Eligible projects focus on providing comprehensive support to start-ups and new businesses through structured programs and events.
- Pre-incubation programming, including business idea development, advisory support, mentoring, and market research for aspiring entrepreneurs.
- Full incubation initiatives providing business advisory support, workspace, shared equipment, prototype development, and networking opportunities.
- Acceleration activities focusing on rapid business growth through strategic financing and market readiness strategies.
- Entrepreneurship and business support integrated into post-secondary education curricula, including campus-led incubators and accelerators.
- Sector-specific entrepreneurship programs organized by industry associations to catalyze business development within specific sectors.
- One-time or series of networking events targeting specific demographic or sectoral groups to drive entrepreneurial engagement.
Eligibility criteria of the Business Incubation & Commercialization Grant Program program
Eligibility for this grant is determined by specific requirements related to the applicant's organizational status, programming, operational history, and financial standing.
- The applicant must be a not-for-profit organization providing incubation-type programming to entrepreneurs.
- Programming must be Toronto-centric, supporting Toronto-based entrepreneurs and startups.
- The organization must provide proof of not-for-profit status, such as articles of incorporation, certificates of incorporation, or letters patent.
- For the Multi-Year Operating Stream, organizations must have been incorporated for three years or more, have paid staff, and demonstrate a history of successful entrepreneurship programming.
- For the Multi-Year Operating Stream, organizations must provide audited financial statements showing revenues between $100,000 and $1 million.
- For the Programs and Events Stream, organizations must have been incorporated for at least two years and demonstrate a history of successful entrepreneurship programming.
- For the Programs and Events Stream, organizations must provide a comprehensive budget showing revenue of less than $100,000 for Programs or $50,000 for Events.
Who is eligible?
The Business Incubation and Commercialization Grant Program is open to not-for-profit organizations that provide incubation-type programming to entrepreneurs. This includes pre-incubators, incubators, accelerators, post-secondary education institutions with entrepreneurship programs, and industry associations focusing on sector development. The eligible organizations must focus on supporting Toronto-based entrepreneurs and start-ups with programming that aims to create businesses, jobs, and innovate. They also must be able to demonstrate robust business incubation and entrepreneurship programming, proof of not-for-profit status, and meet specific stream requirements based on their operational history and financial status. For-profit incubators and individual businesses are not eligible to apply.
Who is not eligible
This grant program is designed specifically for not-for-profit organizations and excludes certain types of businesses. The restrictions focus on ensuring alignment with the city’s strategic priorities on entrepreneurship and innovation support.
- Individual for-profit businesses.
- For-profit incubators.
- Organizations taking equity from the start-ups they support.
- Organizations applying for or participating in more than one stream of funding per year.
- Organizations receiving core funding from the City of Toronto applying for the Multi-year Operating Stream.
Eligible expenses
The Business Incubation and Commercialization Grant Program supports activities that help in building and sustaining entrepreneurship through incubation, acceleration, and support for new businesses and startups in Toronto. The eligible projects focus on fostering business creation, job creation, and innovation.
- Development and implementation of programs for business idea formation and advisory support.
- Providing incubation services such as office or studio space and shared industrial/commercial equipment for startups.
- Facilitating accelerator programs that include strategic financing and market readiness strategies.
- Organizing networking events and market research initiatives targeted at entrepreneurs and startups.
- Providing mentoring and support services to different phases of business development from pre-incubation to acceleration.
Eligible geographic areas
This grant is available to organizations that support entrepreneurs and start-ups based in Toronto. The program aligns with the City of Toronto’s goals of access, equity, and inclusion, ensuring local economic development is prioritized.
- Toronto, Canada
Eligibility criteria of the Business Incubation & Commercialization Grant Program program
The evaluation and selection of projects under the Business Incubation and Commercialization Grant Program focus on prioritizing key aspects that align with the program's mission and objectives.
- Program Alignment: Degree to which the project aligns with the City of Toronto’s goals of access, equity, and inclusion.
- Program Impact and Engagement: The potential impact of the program in creating businesses and jobs and its engagement with the target demographic or sector.
- Organizational Capacity: The ability of the organization to deliver the program effectively, including having adequate staff, resources, and a track record of success.
- Financial Sustainability: Sustainability of the program’s financial model, including the usage of grant funds and other sources of revenue.
How to apply to the Business Incubation & Commercialization Grant Program program
1
Subscribe for Updates
Subscribe to the BusinessTO newsletter to receive updates on future rounds of funding and training opportunities.
2
Gather Supporting Documents
- For the Multi-Year Operating Stream, prepare proof of not-for-profit status, board of directors information, audited financial statements, a robust curriculum, and a milestones and deliverables overview.
- For the Programs and Events Stream, prepare proof of not-for-profit status, board of directors information, a detailed budget, a robust curriculum or event schedule, and a milestones and deliverables overview if applying for the program stream.
3
Download and Prepare Templates
Download the available templates for the detailed budget and milestones overview to prepare your supporting documents.
4
Submit Application
Submit the complete application package with all required documents to the specified contact or upload it to the designated portal once applications are open.
5
Confirmation
- Receive a confirmation message regarding the submission of your application.
- Keep the confirmation and any application numbers for your records.
Additional information
The Business Incubation and Commercialization Grant Program offers financial support to not-for-profit organizations focused on the development of entrepreneurship, incubators, and accelerators in Toronto. Funding is not guaranteed annually, and applications for future rounds are currently closed.
- Program updates can be received by subscribing to the BusinessTO newsletter.
- Organizations must provide aggregate data on their program’s reach and impacts annually.
- Eligible organizations cannot participate in more than one funding stream per year.
- Organizations receiving other core funding from the City of Toronto cannot apply for the Multi-year Operating Stream.
- Applicants need various supporting documents, such as proof of not-for-profit status and detailed budgets, depending on the funding stream.
- Decisions on eligibility and funding amounts by the assessment panel are final.
Contact City of Toronto
416-392-3386
Apply to this program
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