Deadline: 28-Aug-20
The ventureLAB has announced a call for applications for the Entrepreneurship and Innovation Fund (EIF) to encourage innovation towards business continuity and business recovery efforts by supporting promising early stage start-ups, accelerators, incubators, and community partners.
With an annual commitment of $100,000 from York Region until 2023, the fund will support the development of the innovation network in York Region.
This joint initiative provides an opportunity to increase innovation in two streams:
- Stream One: Qualified Community Partners receive up to $10,000 in funding for activities or initiatives that promote, support, or enhance entrepreneurship or innovation in York Region.
- Stream Two: Qualified Small Businesses and Entrepreneurs receive up to $15,000 in funding to support the growth of your innovative business and/or to provide additional support towards business continuity and recovery efforts post-COVID.
Eligibility Criteria
Stream One
- Your application should showcase that you have a proven track record of delivering programs and services that supports innovation and sustainability in York Region.
- The following criteria has been established for eligible applicants:
- Applicant must be a not-for-profit York Region-based organization or the proposed activities must take place in York Region
- Demonstrate innovative solutions or services that expand inclusion, diversity, or accessibility in York Region
- Must contribute to innovation in York Region
- Applicant organization/entity are limited to one application/project each round
- Previously funded recipients must put forward a net new project or initiative in order to apply for another round of funding
- Have been operational prior to the COVID-19 pandemic with plans to continue or resume operations.
Stream Two
- Your application should showcase how the funding will accelerate your company’s growth and/or support your business recovery efforts post-COVID
- The following criteria has been established for eligible applicants:
- Incorporated in Canada
- Operational in York Region and/or actively engaged with a York Region innovation partner
- Company size of 1-99 employees
- A sustainable business model, with potential for market growth
- Minimum of three months of recurring monthly revenue of $5,000 or more
- Have been an operational business before the COVID-19 pandemic with plans to continue or resume operations
- Applicants across all industries and sectors will be eligible.
For more information, visit https://venturelab.ca/innovationfund/