FUNDING OF UP TO $25,000 TO SUPPORT entrepreneurs!
The Fast-Track to Financing Program supports projects that help to create strong business or commercialization plans to attract public financing or private investment to support the development, and eventual market entry, of natural product or technologies (Technology Readiness Levels (TRL) 4-9).
Successful applicants will receive a contribution of up to 40% of the costs of the expert(s), to a maximum of $25,000.
The applicant is required to contribute at least 60% of the cost over the project period.
- Canadian incorporated SME, start-up company, or academic research institute.
- The applicant has a novel pre-commercial natural product or technology that aligns with NPC’s definitions of natural products or technologies and must also fit within the TRL 4-9 of the Government of Canada’s established Technology Readiness Levels.
- SMEs and start-up companies must have the potential to achieve $10MM to $15MM in annual revenue within a reasonable period for the market or sector.
- Products or technologies being developed within academic research institutes must address an industry/sector challenge that has significant market potential.
- Potential for significant economic, social, health and/or environmental benefits.
- Technological advancement and benefits to the natural products ecosystem across Canada.
- Technical feasibility of the project.
- Potential for commercialization in Canada.
- Potential spillover benefits to more than one sector.
- Potential for improving the representation of women, visible minorities, and Indigenous peoples in the natural products ecosystem.
- A member of Canada’s Natural Product Innovation Cluster.
The Program supports the costs of engaging one or more experts (external consultant or another service provider) to assist in strengthening or revising the business or commercialization plan. This could include all or a subset of the following components:
- Market, Customer, & Competitive Analysis
- Value Proposition
- Regulatory Plan
- IP Plan
- Financial Plan
- Production Plan
There is no deadline to apply. Applications made after all annual funding has been distributed may be considered for the next financial year.