Ag-West Bio – Technology Commercialization Investment Fund
Highlights
This program is designed for early-stage companies like yours, offering repayable investment capital ranging from $50,000 to $300,000. This funding is ideal for businesses developing innovative technologies with significant long-term benefits for Saskatchewan. The financing is flexible and patient, making it more accessible than traditional capital sources, especially during the high-risk early stages of development.
Key Benefits:
- Flexible and patient risk capital tailored to early-stage companies.
- Support for promising technologies that demonstrate exceptional long-term benefits.
- Repayable investment capital ranging from $50,000 to $300,000.
- Matching funds to help secure additional financing.
What's in it for you?
- Access to expert guidance from Ag-West Bio management to develop a commercialization milestone plan.
- Connections to research, market networks, and funding sources.
- Potential for significant economic impact through job creation, wealth creation, and innovative technology development.
Applying for this program can provide your business with the financial support and expert guidance needed to scale and succeed. The selection process is competitive, but if approved, you will gain access to valuable resources and networks that can help propel your business forward.
Financing Details
Type of Financing:
- Loan: The financing is provided as a loan with a royalty based on company revenue.
Repayment Terms and Interest Rates:
- Repayment Term: The loan is structured as flexible and patient risk capital.
- Interest Rates: Specific interest rates are not mentioned, but the loan includes a royalty component based on company revenue.
Eligible Expenses:
- Eligible Expenses: The funds can be used for:
- Development of innovative technologies.
- Commercialization activities.
- Other expenses that demonstrate long-term benefits to Saskatchewan.
Ineligible Expenses:
- Ineligible Expenses: The funds cannot be used for:
- Non-business related expenses.
- Activities that do not align with the commercialization milestone plan.
Fees:
- Associated Fees: There are no specific fees mentioned in the program details.
Qualifications
- Must have a detailed business plan that outlines extensive benefits to Saskatchewan bio-science and/or ag tech industries, in the form of:
- Job creation
- Economic activity
- Wealth creation
- Innovative new technology, product or service for those operating in the industry
- Increase in research or commercialization knowledge capital
- Significant environmental impact
- Must be a for-profit, Saskatchewan incorporated company and have a strong financial return opportunity
- Must have a proven core technology that can scale and create measurable change
- Must have an addressable market with defined market partners and demonstrated market traction
- Must have a capable team with a focus on revenue and commercialization
Description
This program offers your business a chance to access repayable investment capital ranging from $50,000 to $300,000. This funding is designed to support promising technologies at their early stages, where traditional capital sources might not be available due to high risk.
You can use this money to:
- Develop innovative technologies
- Create new products or services
- Expand your market reach
- Enhance research and commercialization efforts
The investment typically comes as a loan, plus a royalty based on your company’s revenue. This means you repay the loan over time and share a small portion of your revenue as your business grows.
Why is this beneficial for you?
- Flexible and patient risk capital: This funding is designed to be more accommodating than traditional loans.
- Support for early-stage development: It helps you bring your innovative ideas to market.
- Long-term benefits: Your business can achieve significant growth and contribute to the local economy.
This program is a great opportunity to secure the funds you need to take your business to the next level.
Program Steps
Gather Required Documentation:
- Detailed business plan
- Financial statements
- Proof of Saskatchewan incorporation
- Market analysis and traction evidence
- Team resumes and qualifications
Prepare a Commercialization Milestone Plan:
- Outline key milestones
- Include timelines and expected outcomes
- Detail how each milestone will benefit Saskatchewan’s bio-science and ag tech industries
Contact Ag-West Bio:
- Reach out to Kyle Adams, Director of Investment and Commercialization, at [email protected] to discuss your interest and get initial guidance
Complete the Application Form:
- Fill out all required fields accurately
- Attach the prepared documentation
Submit the Application:
- Send the completed application and all supporting documents to Ag-West Bio
Participate in Due Diligence:
- Be prepared for a thorough review process
- Provide any additional information or clarification as requested by Ag-West Bio
Review and Sign Agreement:
- If approved, review the investment terms
- Sign the agreement, which may include loan terms and royalty arrangements
Receive Funds and Begin Implementation:
- Upon agreement, receive the investment capital
- Start working on the commercialization plan and achieving the outlined milestones