BioCreate Program
Highlights
The BioCreate program is designed specifically for businesses like yours in the health, food, agriculture, and cleantech sectors. This program offers up to $150,000 in non-repayable funding, which you can match with $100,000 from your company, creating a total project size of $250,000 or more. This funding can help you commercialize your genomics and engineering biology-enabled products or technologies.
What You Get:
- $150,000 in non-repayable funding
- 18 months of intensive business mentorship
- Access to critical infrastructure through strategic partnerships
- Opportunity to pitch to investors at the end of the program
This program is easier to qualify for than many others, and being approved can significantly boost your business. The mentorship and support provided will help you raise additional financing and achieve commercial success.
Financing Details
Type of Financing:
- Non-Repayable Funding: The program offers up to $150,000 in non-repayable funding.
Repayment Terms and Interest Rates:
- No Repayment Required: As this is a grant, there are no repayment terms or interest rates.
Eligible Expenses:
- Product Development: Costs associated with the development of genomics and engineering biology-enabled products.
- Technology Commercialization: Expenses related to bringing new technologies to market.
- Business Development: Costs for business mentorship and support services.
Ineligible Expenses:
- Operational Costs: Routine operational expenses such as salaries, rent, and utilities are not covered.
- Debt Repayment: Funds cannot be used to pay off existing debts or loans.
Fees:
- No Application Fees: There are no fees associated with applying for or receiving this funding.
Qualifications
- Must be a small or medium-sized enterprise (SME).
- Must be located in southern Ontario.
- Must be seeking to commercialize genomics and engineering biology-enabled products and/or technologies.
- Must operate in the health, food and agriculture, or cleantech sectors.
- Must have achieved a Technology Readiness Level (TRL) of 4 or higher.
Must be able to contribute a minimum of $100,000 to leverage the funding.
Disqualifications:
- None specified in the provided context.
Description
This program provides your business with $150,000 in non-repayable funding. You will need to match this with at least $100,000 of your own funds, creating a total project budget of $250,000 or more. This funding can be used to commercialize genomics and engineering biology products or technologies in health, food, agriculture, and cleantech sectors.
Benefits include:
- 18 months of intensive business mentorship to help you raise additional financing and achieve commercial success.
- Access to critical infrastructure through strategic partnerships with organizations like Velocity, Synapse Life Sciences Consortium, and others.
- An investor showcase at the end of the program, where you can pitch to investors and potential partners.
This program is designed to support up to 32 high-potential companies over five years, offering a unique opportunity to grow and scale your business.
Program Steps
Register and Submit Intake Form:
- Visit the BioCreate program portal.
- Register and fill out the BioCreate intake form.
Initial Contact:
- A representative from the BioCreate team will reach out to discuss your project idea.
Prepare Documentation:
- Gather necessary documents, including:
- Business plan
- Financial statements
- Details of intended use of funds
- Quotes for equipment or renovation costs
- Gather necessary documents, including:
Submit Full Application:
- If invited, submit a complete application by the specified deadline.
Pitch to Expert Panel:
- Prepare and present your pitch to the BioCreate expert panel.
Notification of Award:
- Await notification of award status.
- If approved, review and execute the contract.
Initiate Business Mentorship:
- Start the 18-month business mentorship program.
- Work with mentors and access provided resources.
Develop Pitch Deck:
- Collaborate with BioCreate partners and mentors to develop a pitch deck for the Investor Showcase.
Participate in Investor Showcase:
- Present your pitch to investors and potential partners at the conclusion of the program.