York Region Entrepreneurship and Innovation Fund
Overview
If you are an entrepreneur or small business in agri-tech and/or cleantech, you could receive up to $10,000 for solutions that support and enhance social and environmental sustainability in York Region and beyond.
At a glance
Funding available
- Integrate new technologies
- Optimize production processes
- Reduce the ecological footprint
- Maximum amount : 10,000 $
- Open Date : September 1, 2023
- Closing date : October 10, 2023
Eligible candidates
- Agriculture, forestry, fishing and hunting
- Manufacturing
- Professional, scientific and technical services
- Ontario
- For-profit business
- All revenue ranges
- 1-99 employees
- Startups
Activities funded
The grant is intended to promote innovative technological solutions in the agriculture and clean technology sectors. The supported activities mainly target advancements in sustainability and operational efficiency in York Region's agri-food ecosystem.
- Development of precision agriculture technologies.
- Implementation of robotics and artificial intelligence within agricultural processes.
- Creation and enhancement of vertical farming techniques.
- Automation initiatives across the food value chain and smart food product development.
- Projects focused on food ecosystem sustainability.
- Decarbonization practices and technologies.
- Development of electric vehicles within the clean technology sector.
Eligibility
Eligibility for this grant requires meeting specific criteria related to company status, location, size, and project scope.
- The company must be incorporated and based in Canada.
- The company must be operational in York Region and actively engaged and/or willing to engage with a York Region innovation partner for at least six months upon being awarded the funds.
- The venture must have a size of 1-99 employees and must include at least one business co-founder and one technical co-founder.
- The venture must be able to match the $10,000 fund.
- The venture must have a minimum viable product and/or be at the validation stage with initial customer traction.
- The venture must be developing Agri-tech, Agri-food, or Cleantech innovative solutions or services in specified areas such as precision agriculture, robotics and AI applications in agriculture, vertical farming, automation in the food value chain, food ecosystem sustainability, decarbonization, and electric vehicles.
Who is eligible?
This grant is designed to support small businesses and entrepreneurs developing Agri-tech and Cleantech solutions that enhance social and environmental sustainability.
- Companies incorporated and based in Canada.
- Businesses operational in York Region with engagement or willing to engage with a York Region innovation partner for at least six months upon receiving funds.
- Ventures ranging from 1 to 99 employees, including at least one business and one technical co-founder.
- Ventures that can match the $10,000 fund.
- Ventures with a minimum viable product and/or at the validation stage with initial customer traction.
- Ventures developing innovative solutions in Agri-tech, Agri-food, or Cleantech such as precision agriculture, robotics and AI applications in agriculture, vertical farming, automation in the food value chain, smart food product development, food ecosystem sustainability, decarbonization, and electric vehicles.
Who is not eligible
This grant excludes certain companies and activities from eligibility due to their nature or purpose. The focus is on ensuring the funds support innovation and growth in specified sectors.
- Sole-proprietors.
- Companies seeking funding for regular maintenance or ongoing operation costs.
- Businesses looking to refinance existing debt.
- Applicants intending to use the funds for land and building acquisition.
- Those applying for regularly scheduled capital expenditures or asset replacement.
- Previously funded recipients for two consecutive rounds of funding in recent years.
Eligible expenses
The grant is designed to support eligible expenses that foster innovation and project completion within Agri-tech and Cleantech sectors.
- Development and implementation of project activities directly related to innovative Agri-tech and Clean-tech solutions.
- Initial costs associated with demonstrating project completion as per the final report requirement.
Eligible geographic areas
The grant is specifically targeted at companies operating in York Region. Applicants must be engaged with a York Region innovation partner and be based in Canada to qualify for the funding.
- Companies operational in York Region, Canada.
Selection criteria
The evaluation and selection of projects for this grant are based on specific criteria to ensure alignment with the grant's objectives.
- Business viability and growth/scaling potential, i.e. value proposition, team, market, financing, business model & customer traction.
- Community impact and economic benefits for, in part, York Region, i.e. IP & revenue generation, job creation/retention, diversity & inclusion, etc.
- Proposed use of funds and impact on business.
- Quality of application, i.e. clear, concise, and complete.
How to apply
Prepare Your Application
- Complete the application form provided by the Entrepreneurship and Innovation Fund.
- Attach your company pitch deck showcasing how the funding will drive growth and innovation in York Region.
Check Eligibility
- Ensure your company meets all the eligibility criteria including being incorporated in Canada and operational within York Region.
- Verify the ability to match the $10,000 fund if awarded.
Submit Application
Await Notification
- Applications will be reviewed by a committee comprising ventureLAB, Regional Staff, and key innovation stakeholders.
- Successful applicants will be notified as per the funding body's communication timeline.
Fund Disbursement
- Sign the Funding Agreement once your application is approved.
- Funds will be disbursed within 30 business days post-signing.
Project Completion
Additional information
Aside from the main requirements, applicants should consider these points:
- Engagement with a York Region innovation partner is essential within the first six months if funds are awarded.
- Funds must be used with accountability, requiring justified use and impact reporting.
- Matching funds requirement necessitates that applicants have a financial plan or resource strategy in place to present.
