Zú program — Incubation
QC, Canada
Business growth through strategic mentoring and exclusive resources
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Expert Advice
Partnering and Collaboration
grant_single|eligibleIndustries
- Information and cultural industries
- Arts, entertainment and recreation
grant_single|grantors
- Zú
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Incubation program, based on the Venture Mentoring Service (VMS) methodology developed by MIT, aims to support companies with a minimum viable product by providing strategic mentorship from a network of experienced mentors. This year-long program offers access to various services including professional workshops, pitch clinics, and exclusive financing sources, designed to propel commercial success and support internationalization efforts.
grant_single_labels|projects
The Incubation program by Zú is designed to support companies that have already developed a minimum viable product and are looking to expand their commercialization and market growth. Participants will engage in strategic activities to strengthen their business operations and innovation capacities.
- Engaging in monthly mentor meetings based on MIT-VMS principles to gain impartial and confidential insights.
- Participating in collaborative workshops and presentations to enhance business strategies.
- Accessing a network of experts for consultations in various domains such as technical, legal, financial, and tax-related aspects.
- Networking with a National Bank advisor for insights into the creative industries.
- Exploring business development opportunities through Zú’s open innovation programs with large corporations.
- Participating in pitch clinics to refine presentation skills and attract potential investors.
- Using work and meeting spaces in downtown Montreal to facilitate project development.
- Engaging with international support networks and participating in trade missions to expand business reach.
- Utilizing co-coaching opportunities with other incubator partners if needed to address specific challenges.
grant_single_labels|admissibility
Eligibility for the Zú incubation program requires meeting specific criteria that relate to the company’s development stage and intentions regarding integration into the Quebec ecosystem.
- The company must have developed a minimum viable product.
- The applicant is required to pay a program fee, which varies based on their geographic location: $3,700 for new incubates in Quebec, $5,000 for Canadians outside Quebec, and $15,000 for international entrepreneurs.
- For companies outside of Quebec, acceptance into the program is conditional upon demonstrating a clear intention to establish operations in Quebec or already contributing to the Quebec economy.
- Participation requires the submission of an application form along with a video, showcasing the project and team.
- The company should be at a stage where engagement with mentors and participation in workshops is beneficial.
grant_eligibility_criteria|who_can_apply
This incubation program is designed for companies that have developed a minimum viable product (MVP) and are seeking to grow their business with the help of mentors. Companies may be based in Quebec, elsewhere in Canada, or internationally, if they have intentions to contribute to the Quebecois economy. The program does not limit application to specific industries but requires applicants to have a viable business concept ready for acceleration through mentoring and professional development services.
grant_eligibility_criteria|eligible_expenses
The incubation program eligible for this grant primarily focuses on fostering business growth through mentorship and access to specialized resources. Activities aim to provide strategic decision-making support and tools to enhance commercial success.
- Participation in the Venture Mentoring Service based on the MIT methodology, including monthly group meetings with three mentors.
- Access to workshops and meetings with professional experts in various domains such as legal, tax, and finance.
- Engagement with the National Bank’s Creative Industries Group advisor for personalized business guidance.
- Involvement in monthly pitch clinics to refine presentation and pitching skills.
- Opportunities to participate in innovation challenges and international trade missions.
- Access to exclusive financing sources available to incubated companies.
- Use of meeting and work spaces in the Zú Atrium and participation in Zú events.
grant_single_labels|criteria
The evaluation and selection of projects for the Zú incubation grant program focus on several key criteria to ensure businesses align with the goals of the program and demonstrate the potential for growth and innovation.
- Development of a minimum viable product: Projects must have reached a certain level of development, as this is a primary eligibility requirement for the incubation program.
- Strategic fit and potential for growth: Evaluation of how well the project aligns with the objectives of the Zú program and its potential to scale.
- Innovative value proposition: The uniqueness and potential disruption offered by the project in its sector.
- Entrepreneurial team: Assessment of the team's capability, experience, and commitment to commercial success.
- Readiness and strategic objectives: Assessment of the company's preparedness to capitalize on the incubation services and clarity in strategic goals.
- Market potential and traction: Evidence of existing market interest or traction as an indicator of future success.
- Impact potential: The project's ability to contribute economically or socially, particularly within the Quebec ecosystem.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Fill Out and Submit Application Form
- Complete the application form found on the Zú Programs page.
- Ensure all necessary information is included. You can submit at any time as the form is open continuously.
- Step 2: Receive Confirmation
- Receive a confirmation email from the Zú team acknowledging receipt of your application form.
- Step 3: Selection Committee Evaluation
- Your application will be reviewed and sorted by the selection committee.
- This evaluation cycle typically takes 3 to 4 weeks.
- Step 4: Interview
- If selected, you will be invited for an interview with the committee.
- Step 5: Final Decision
- Receive the final decision regarding your application within 3 to 5 weeks after the application cycle closure.
grant_single_labels|otherInfo
Here are additional relevant details for the incubation grant with Zú:
- The incubation program offers services valued at over $50,000 per year without taking equity in the company.
- Mentors come from significant entrepreneurial backgrounds in technology and creative industries.
- Applications can be submitted at any time, with periodic evaluations 3 to 4 times a year.
- Confidentiality is ensured through NDAs signed by all involved parties.
- The program is open to participants outside Quebec if they plan to contribute to Quebec's economy.
- The fee structure is contingent on the geographical location of the applicant (Quebec, other Canadian regions, or international).
