CLEANTECH ACCELERATE PROGRAM 2017-2018
APPLICATION FORM
If you have a high potential clean technology start-up approaching investment readiness, we can help.
Innovacorp’s CleanTech Accelerate program is now open for submissions. The deadline for applications is Monday, October 2, 2017, at 5:00 pm AST. Please complete the application form below, answering the questions in the boxes provided, and then submit it to us via email.
Participants will receive up to $50,000 in non-dilutive, non-repayable funding to address key technical and business milestones.
In addition to the funding, companies will get access to a series of acceleration activities. The programs will be tailored to the cohort to provide support where participants need it most.
· Business acceleration workshop with thenextphase (mandatory) from Thursday, November 16 (evening) to Sunday, November 19, 2017 (midday). Workshop registration, meals and accommodation will be provided at no cost to participants (two per company). Toon Nagtegaal and David Crow will lead the boot camp using their PhaseMap methodology.
· Monthly workshops on product development, fundraising, sales coaching and IP strategy.
· Advice from various technology and business experts. Programming will include a mix of videoconferencing and face-to-face sessions with our Science and Technology Advisory Council and/or other experts on topics relevant to the cohort.
· Market Intelligence through the MaRS Market Intelligence Services program. Participants will receive information about their industry, competitors, market, potential investors and partners, and best practices. The MaRS team of analysts and information specialists have industry knowledge and access to top proprietary databases, reports and statistics.
· Shared space and an Affiliate membershipin our newly renovated incubator for clean technology companies,Technology Innovation Centre(TIC). TIC is located just minutes from downtown Dartmouth and offers a range of resources, including enterprise-grade voice and data networks, access to meeting space, and support from being part of a community of start-ups.
Eligibility
Location: Nova Scotia-based and registered with Nova Scotia Registry of Joint Stock Companies (RJSC)
Stage: Early stage (less than $1 million in cumulative sales) and technology moving towards achieving a Technology Readiness Level Three (At TRL 3, active research and design begins, with analytical and laboratory studies to determine whether the technology is viable and ready to proceed through the next development steps. During TRL 3, a proof of concept is often built.)
Sector: Blue and green technologies, including ocean, agri- and clean technologies
People: Founders and/or managers have industry knowledge, management experience and commitment to the venture
Market: Large, growing international market
Competition: High barrier to competitive entry
Execution: Credible plan to reach key milestones
Exclusions: Innovacorp investment portfolio companies are ineligible for this opportunity
For more information, contact Megan Maltby via email or by phone at 902.424.8670 ext. 1147 or 1.800.565.7051 ext. 1147 (Toll Free in Atlantic Canada).
1. Applicant Information
Company NameContact Name
Mailing Address
Telephone
2. Management Team
Provide the name(s) of the founder(s) and key manager(s). Briefly describe their background and experience as well as their roles and responsibilities in the company. Include the ownership structure.
3. Product and/or Service Offering
What is your product or service?
What is the problem your potential customers are experiencing?
How does your product or service solve the problem outlined above? In one sentence, what is the end result of your product or service? Does it save money, make customers’ lives easier or give them new opportunities?
4. Barriers to Entry
Who are the major competitors?
Why is your product or service unique or different from the competition? Is the uniqueness sustainable, e.g., patents, intellectual property, first to market, subject-matter expertise, barriers to entry (a reason it will be difficult for competitors to do the same thing), etc.?
5. Market Opportunity
Who are your target customers? How big is the market?
Is there evidence customers will buy the product or service? Have you met with potential customers, received feedback or tested your ideas?
6. Stage of Development
What is the current status of the technology/venture (e.g., proof of concept, working prototype, in market, etc.)?
What are the key next steps for the development of your product or service?
7. Business Model
How will the company generate sustainable revenue? Describe your revenue streams and operating costs.
How will you get your product or service to market?
8. Program Milestones
Identify the key milestone(s) that will be addressed with the program funds (up to $50,000). Describe what activities will be undertaken to achieve the milestone(s) and the budget for each activity.
Identify your success metric(s) for each milestone noted above.
Highlight the main area(s) a mentor and/or expert could provide the most value for your business at this time. If there is a specific individual and/or area of expertise you are seeking, please explain.
9. Capital Requirements
How much total funding (i.e., beyond this program funding) is needed to fully develop your product or service and go to market? How will the money be used?
Why do you think your business would be attractive to investors?
Confidentiality: All submissions will be treated confidentially and will not be made available to the public. Only those directly involved in managing the program or evaluating applications will view submitted documents. While submission details will not be disclosed, Innovacorp reserves the right to publicly announce program participants.
CleanTech Accelerate Program
Application Form 2017-2018
p. 1