Our partners at the Business Acceleration Program (BAP) are launching a new funding program called Embark Funding for clients of Regional Innovation Centres, including Innovation Guelph.

Embark Funding will provide novel Ontario-based technology ventures with up to $20,000 (including costs of HST) to hire a young professional (aged 22-29) in a business role that will assist in the advancement of your company. The company will be required to contribute $2,500 cash (or 12.5% of the amount requested) toward the candidate’s payment over the contact period.

Is your company eligible for Embark Funding?

Here are some of the key eligibility criteria:

  • Novel Ontario-based technology companies with a clear, sustainable technological advantage.
  • The company may have already raised up to $2 million in total funding since inception, from sources such as venture capital, angel, personal capital, friends, family, government-funded investment programs and bank loans. This does not include funds raised from government research and development grants. Some exceptions apply.
  • Must be a client with a Regional Innovation Centre (RIC) such as Innovation Guelph.
  • Cannot be a subsidiary of a larger parent company that would be ineligible.
  • May not be established for more than eight years.
  • Must have at least one full-time employee.
  • Companies that have founders, staff or contractors who may also be a paid advisor, EIR or staff on contract at a RIC are not eligible.

The deadline to apply is October 15, 2014.

If you have any questions regarding the program, company eligibility, application requirements, or candidate requirements please visit the program page, ask us at Innovation Guelph, or email the Business Acceleration Program.