Scale-Up Platform
Highlights
This program is designed specifically for high-growth tech companies like yours. It offers elite advisory services, peer networking opportunities, and access to top-calibre talent. These resources are tailored to help you overcome business-expansion hurdles and achieve rapid growth.
Key Benefits:
- Expert Guidance: Advisors with real-world experience in scaling high-growth companies.
- Peer Groups: Confidential circles of trusted peers to discuss unique business challenges.
- Talent Acquisition: Expertise in talent management, sourcing, and employer branding.
By joining this program, you will gain access to customized market research, exclusive discounts on essential software, and optional desk rental space at Bayview Yards. This program is flexible and scales with your business, making it easier to qualify and benefit from its offerings.
Financing Details
Type of Financing: Grant
Repayment Terms and Interest Rates:
- No repayment required.
- No interest rates apply.
Eligible Expenses:
- Business advisory services.
- Training programs.
- Market research.
- Product development.
- Marketing and promotion.
Ineligible Expenses:
- Personal expenses.
- Debt repayment.
- Real estate purchases.
- Salaries for existing staff.
Fees:
- No application fees.
- No administrative fees.
Qualifications
- Must be a high-growth technology firm.
- Must be based in Ottawa.
- Must have reached $2 million in revenue or capital.
Must be on track to generating $100 million or more.
Disqualifications:
- Businesses not based in Ottawa.
- Firms that have not reached $2 million in revenue or capital.
- Companies not on the path to generating $100 million or more.
Description
This program is a fantastic opportunity for your business to grow and succeed. You can borrow up to $1,000,000 to help with various business needs. Here's how you can use the funds:
Up to $500,000 can be used for buying equipment or improving your rented space. This includes:
- Commercial kitchen appliances
- Manufacturing machinery
- Computers and IT infrastructure
- Renovating a retail space
Up to $150,000 can be used for other costs like software or operational expenses to keep your business running smoothly.
The federal government guarantees 85% of the loan, providing a significant safety net for you. This makes it a secure option to consider.
The loan program is also flexible. If you've made significant purchases in the last 365 days that fit the program guidelines, you can apply them to this loan.
You have various options to pay back the loan. You can choose a variable interest rate, a fixed one, or even combine your loan amount and interest into mixed payments. You have up to 15 years to pay back the loan, regardless of what you spend it on.
This program offers a great chance to secure the resources you need to take your business to the next level.
Program Steps
Gather Required Documentation:
- Business Plan
- Financial Statements (e.g., balance sheet, income statement)
- Proof of Business Registration
- Identification Documents (e.g., driver's license, passport)
- Any other documents specific to the program requirements
Complete the Application Form:
- Visit the program's official website or contact their office to obtain the application form.
- Fill out all required fields accurately.
Prepare a Detailed Proposal:
- Outline how your business will benefit from the program.
- Include specific goals, timelines, and expected outcomes.
Submit the Application:
- Submit the completed application form along with the required documentation.
- Ensure all documents are up-to-date and properly signed.
Attend an Information Session (if required):
- Some programs may require you to attend an information session or workshop.
- Check the program's guidelines for this requirement.
Follow Up on Your Application:
- Contact the program office to confirm receipt of your application.
- Inquire about the timeline for review and any additional steps.
Prepare for an Interview or Site Visit (if applicable):
- Some programs may require an interview or site visit as part of the evaluation process.
- Be ready to discuss your business plan and how the program will help achieve your goals.
Receive Approval and Funding:
- Once approved, review the terms and conditions of the program.
- Sign any necessary agreements to receive the funding or support.
Implement the Program:
- Use the funds or resources as outlined in your proposal.
- Keep detailed records of how the support is being utilized.
Report on Progress:
- Submit regular progress reports as required by the program.
- Include financial statements, milestones achieved, and any challenges faced.
Complete Final Evaluation:
- At the end of the program, complete any final evaluation forms or reports.
- Provide feedback on the program's impact on your business.