Open Innovation Program
Highlights
This program is a fantastic opportunity for your business to secure non-dilutive funding to develop and scale your clean energy technologies. You can receive up to $6 million to advance your innovative solutions in areas like low carbon hydrogen, renewable natural gas, battery technology, energy storage, carbon management, and bioenergy. This funding can help you bring your technology from development to commercialization, significantly accelerating your path to market.
What You Get:
- Up to $6 million in non-dilutive funding
- Support for technologies at a Technology Readiness Level (TRL) between 4-9
Benefits:
- Non-dilutive funding means you retain full ownership of your business
- Accelerate the development and commercialization of your clean energy technology
- Contribute to a net-zero carbon future with your innovative solutions
Qualifying for this program is straightforward, and being approved can provide the financial boost you need to scale your business and make a significant impact in the clean energy sector.
Financing Details
Type of Financing: Grant
Repayment Terms:
- No repayment required.
- No interest rates apply.
Eligible Expenses:
- Development of clean energy technologies.
- Commercialization of new clean energy solutions.
- Scaling of existing clean energy technologies.
- Projects related to low carbon hydrogen, renewable natural gas, battery technology and energy storage, carbon management, bioenergy, biofuels, and synthetic fuels.
Use of Funds:
- Funds cannot be used for non-clean energy related expenses.
- Administrative costs not directly tied to the eligible projects are not covered.
Fees:
- No fees associated with the program.
Qualifications
- Must be based in British Columbia, Canada.
- Must be involved in the development, commercialization, or scaling of clean energy technologies.
- Must focus on one or more of the following areas:
- Low carbon hydrogen
- Renewable natural gas
- Battery technology and energy storage
- Carbon management
- Bioenergy, biofuels, and synthetic fuels
Must have a Technology Readiness Level (TRL) between 4-9.
Disqualifications:
- Businesses not based in British Columbia.
- Technologies outside the specified focus areas.
- Technologies with a TRL below 4 or above 9.
Description
This program offers your business up to $6 million in non-dilutive funding. This means you don't have to give up any ownership in your company to receive the money.
You can use this funding to develop, commercialize, and scale clean energy technologies. The focus areas include low carbon hydrogen, renewable natural gas, battery technology and energy storage, carbon management, and bioenergy. These areas are crucial for moving towards a net-zero carbon future.
The funding is aimed at projects that are at a Technology Readiness Level (TRL) between 4-9. This means your project should be past the initial idea stage and ready for further development and scaling. This program is a great opportunity to advance your innovative solutions and make a significant impact in the clean energy sector.
Program Steps
Gather Required Documentation: Prepare the necessary documents for your application. These include:
- Business plan
- Financial statements (past three years)
- Project proposal detailing the innovation
- Budget and funding requirements
- Proof of business registration
- Any relevant patents or intellectual property documentation
Complete the Application Form: Fill out the application form provided by the B.C. Centre for Innovation and Clean Energy (CICE). Ensure all sections are completed accurately.
Submit the Application: Send your completed application form and all required documentation to the CICE by the specified deadline.
Attend the Q&A Session: Watch the recorded Open Call Q&A session held on January 10, 2023, to understand the application process better. Download the Q&A session slides for reference.
Follow Up: After submission, follow up with CICE if you have any questions or need further clarification. You can contact them at [email protected].
Wait for Notification: Companies selected for funding will be notified by June 1, 2023. Ensure your contact information is up-to-date to receive timely communication.
Prepare for Next Steps: If selected, be ready to discuss the final terms and conditions of the funding, including any additional documentation or information that may be required.