Business Incubation & Commercialization Grant Program
Toronto, ON, Canada
Offer financial support to nurture entrepreneurship, innovation, and job creation in Toronto through robust programming provided by not-for-profit organizations
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Grant and Funding
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- City of Toronto
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The Business Incubation and Commercialization Grant Program provides financial support to non-profit organizations that offer robust entrepreneurship, incubation, and acceleration programming aimed at business formation, innovation, and job creation in Toronto. Eligible activities include pre-incubation, incubation, and acceleration services, as well as targeted entrepreneurial programs and events. The program offers up to $100,000 for multi-year operational support and up to $20,000 for individual programs.
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This grant is aimed at organizations that provide incubation programming to entrepreneurs based in Toronto. It is designed to support entrepreneurship activities specifically within the city.
- Organizations providing programming in Toronto.
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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.
grant_eligibility_criteria|who_can_apply
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.
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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.
grant_eligibility_criteria|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.
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The eligible expenses are those necessary for implementing programming and events under the Business Incubation & Commercialization Grant Program.
- Personnel costs related to programming and event execution.
- Rental costs for office or studio space used in incubation activities.
- Expenses for shared industrial or commercial equipment.
- Costs associated with business advisory support services.
- Materials and supplies needed for product or prototype development.
- Marketing and promotional expenses for events and programs.
- Costs related to networking and mentoring initiatives.
- Expenditures for organizing program-specific events.
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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.
grant_single_labels|register
Here are the steps to submit an application for this grant when applications are open:
- Step 1: Subscribe for Updates
- Subscribe to the BusinessTO newsletter to receive updates on future rounds of funding and training opportunities.
- Step 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.
- Step 3: Download and Prepare Templates
- Download the available templates for the detailed budget and milestones overview to prepare your supporting documents.
- Step 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.
- Step 5: Confirmation
- Receive a confirmation message regarding the submission of your application.
- Keep the confirmation and any application numbers for your records.
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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.
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416-392-3386
Apply to this program
Empower Your Not-for-Profit Entrepreneurial Initiatives
The Business Incubation and Commercialization Grant Program offers critical financial support to not-for-profit organizations in Toronto focused on fostering entrepreneurship and innovation. This grant aims to catalyze business formation and job creation by strengthening the ecosystem through substantial programming and resources.
In-Depth Insight into the Business Incubation and Commercialization Grant Program
The Business Incubation and Commercialization Grant Program is a pivotal initiative designed to empower not-for-profit organizations dedicated to supporting Toronto's burgeoning entrepreneurial landscape. This grant focuses on organizations that provide incubation, acceleration, and entrepreneurship programs, thereby playing a fundamental role in spurring economic development and sustainability across various sectors. Under this program, financial assistance is structured to achieve the City of Toronto's broader goals of access, equity, and inclusion, making business initiation accessible to a wider demographic.
The program bifurcates its funding into two distinct streams: Multi-Year Operating and Programs and Events. Each stream targets different aspects of organizational needs and capacities. The Multi-Year Operating stream offers up to 20% of eligible expenses, capped at $100,000 over a three-year cycle, to organizations with a solid foundation and an extended history of impactful programming. Conversely, the Programs and Events stream provides up to 50% funding for specific events and programs, with maximum grants of $20,000 and $10,000 respectively, focusing on short-term initiatives or significant events designed to stimulate entrepreneurship and industry-specific dialogue.
To ensure a tailored fit to the city's dynamic economic environment, eligible organizations under this grant include pre-incubators, incubators, accelerators, post-secondary education institutions, and industry associations. These entities serve as pivotal hubs where innovative ideas evolve into sustainable business ventures. For these organizations, maintaining transparency and a strong accountability framework is crucial to navigate their roles effectively in nurturing start-ups and facilitating new markets.
An integral aspect of participating in the Business Incubation and Commercialization Grant Program involves complying with rigorous eligibility criteria and demonstrating a history of successful entrepreneurship programming. Organizations are expected to have a Toronto-focused operational model, be incorporated for a minimum period, and provide substantial proof of non-profit status and impactful program delivery. Additionally, the capability to produce comprehensive financial documents, such as audited financial statements and detailed budgets, is essential to qualify for funding.
Another layer of responsibility for all grant recipients is the requirement to report on their initiatives' impacts and reach. This includes collecting data on program particulars like the number of events held, clients served, businesses formed, jobs created, and other relevant metrics. This mandatory reporting ensures that the program's objectives are consistently met and aligned with Toronto’s developmental goals.
The Business Incubation and Commercialization Grant Program not only offers financial support but also endeavors to enhance the programming of not-for-profit business incubators. By focusing on job creation and entrepreneurial growth, the program plays a critical role in fostering an energetic, innovative environment for Toronto’s entrepreneurs. Subscribe to the BusinessTO newsletter or maintain contact with program representatives to stay updated on application windows and further guidelines.
