Entrepreneurship and Innovation Fund — Non-Profits that Serve Underrepresented Communities
Highlights
This program is designed for you if you are developing innovative Agri-tech or Cleantech solutions. It offers $10,000 in funding to support your business growth and innovation. This financial boost can help you accelerate your company's development, enhance sustainability, and expand your market reach.
Why Apply?
- Access to Capital: Secure $10,000 to fuel your innovative projects.
- Support for Growth: Use the funds to scale your business and increase customer traction.
- Community Impact: Contribute to social and environmental sustainability in York Region.
What's in it for You?
- Flexible Financing: Match the $10,000 fund to double your investment power.
- Quick Disbursement: Funds are released within 30 business days after signing the Funding Agreement.
- Easy Qualification: If your business is operational in York Region and meets the criteria, you have a strong chance of being approved.
This program is a unique opportunity to gain financial support and make a significant impact in your industry.
Financing Details
Type of Financing: Grant
Eligible Expenses:
- Activities or initiatives that promote, support, or enhance entrepreneurship or innovation for underrepresented communities.
- Projects that generate excitement and drive innovation, elevating sustainability in York Region and beyond.
- Examples include:
- Information and knowledge dissemination through workshops.
- Community outreach and engagement.
- Digitizing communities.
Use of Funds:
- Funds must be used for eligible projects as outlined above.
- Projects could be up to 10 months in length.
Restrictions:
- Funds cannot be used by individuals or for-profit entities.
- Companies or organizations participating as part of the selection committee are not eligible.
Fees:
- There are no fees associated with this grant program.
Qualifications
Qualifications:
- Must be a non-profit organization.
- Must be based in York Region or the proposed activities must take place in or benefit York Region.
- Must have a proven track record of delivering programs and services that support innovation and sustainability.
- Must contribute to innovation in York Region.
- Must demonstrate innovative solutions or services that expand inclusion, diversity, or accessibility.
- Must be able to match the $10,000 fund.
- Must not have been funded for the same project more than twice.
- Previously funded recipients must put forward a new project or initiative to apply for another round of funding.
Disqualifications:
- Individuals or for-profit entities.
- Sole proprietors.
- Companies or organizations participating as part of the selection committee.
- Activities in support of regular maintenance and/or ongoing operation costs.
- Regularly scheduled capital expenditures and/or asset replacement.
- Refinancing of an existing debt.
- Acquisition of land and buildings.
Description
This program offers your business a fantastic opportunity to grow and innovate. You can receive $10,000 in funding to support your projects. This money can be used to enhance your business operations, develop new products, or improve your services.
The funding is aimed at businesses working on Agri-tech and Cleantech solutions. If your business is in these sectors, this program can help you scale up and make a bigger impact. The funds can be used for various purposes, such as developing new technologies, improving sustainability, or expanding your market reach.
To receive the funds, you need to match the $10,000 provided by the program. This means you will need to show that you can contribute an equal amount to your project. The funds will be given to you within 30 business days after you sign the Funding Agreement. You will also need to complete your project and submit a final report to demonstrate the impact of the funding.
Program Steps
Complete the Application Form: Begin by filling out the application form provided by ventureLAB. Ensure all sections are completed accurately.
Prepare Documentation: Gather the necessary documents to support your application. You will need:
- Project work plan
- Proposed budget
- Most recent financial statements (no more than 12 months old)
- Company pitch deck (for small businesses and entrepreneurs)
Showcase Project Impact: Clearly outline how your project or initiative will promote, support, or enhance entrepreneurship or innovation for underrepresented communities in York Region.
Demonstrate Matching Funds: Provide evidence that your organization can match the $10,000 fund. This could include bank statements or letters of commitment from other funding sources.
Submit Application: Submit the completed application form along with the required documentation through the designated submission portal or email address provided by ventureLAB.
Review and Follow-Up: After submission, be prepared for potential follow-up questions or requests for additional information from the review committee.
Await Notification: Wait for the notification of winners and non-winners, which will be communicated in November 2023.
Sign Funding Agreement: If selected, sign the funding agreement to formalize the receipt of funds.
Project Implementation: Once the funds are disbursed, proceed with the implementation of your project as outlined in your application.
Submit Final Project Report: Upon project completion, submit a final project report demonstrating the outcomes and impact of the funded activities.
