Archive for the ‘business financing’ Category

New FedDev Funding For Rural Innovation Projects

SMEs operating in rural Southern Ontario within priority sectors such as advanced manufacturing, clean technology, digital industries, and food processing and Agtech may be eligible to receive a non-repayable grant to cover up to 50% of eligible project costs for a maximum of $100,000 through the FedDev Rural Innovation Initiative (RII) Regional stream. 

FedDev is dedicating $100M, over the next three years, to spur investment in rural southern Ontario. The recently launched Rural Innovation Initiative (RII) Regional Stream aims to invest in local projects that support high-potential enterprises and the transition of traditional rural sectors and business to the new rural economy.

Supported projects will strengthen competitiveness, productivity, business growth, process innovation, new market access, creation and retention of employment opportunities, the re-skilling of the industrial workforce, incremental sales and increased profitability.

Priority will be given to projects that advance the economic participation of youth, women, Indigenous peoples, persons with disabilities, newcomers, and visible minorities.

Applications will be accepted on an ongoing basis starting on May 21, 2019, with project activities to be completed by December 31, 2020.

Eligible Costs may include:

  • Labour
  • Expertise
  • Non-Capital
  • Capital

Eligible Activities may include:

  • New materials
  • Cutting edge services software
  • Integrated solutions
  • Cloud computing
  • Rapid prototyping and engineering
  • Robotics and automation
  • Machine learning
  • Extended intelligence, etc.

Is your company looking for funding to support innovation and business growth initiatives? Contact us today to discuss your projects and find out how much funding your company could receive.

Health Innovation Week Showcases Canadian Medical Technology Advancements

This year marked the 6th annual MaRS Health Innovation Week (HIW), Canada’s largest gathering of health startups, investors and the health ecosystem, as over 4,000 attendees collected to network, secure funding, and learn from industry experts.  HIW events were focused around three key conferences this year including HealthKick Adopt, HealthKick Investment, and HealthKick Focus.

Health Innovation Week 2019, Healthkick Invest

HIW kicked off with HealthKick Adopt, where health institutions, decision-makers and entrepreneurs came together to drive the adoption of the latest health solutions in local and foreign markets. The HIW Healthkick Focus events explored “How AI Will Transform the Pharma Industry” and “The Intersection of Innovation and Aging.”  

Next came HealthKick Invest, which is the largest early-stage health investment conference in Canada.  It provided a platform for attendees to connect with global venture capital funds, family offices, angel investors and other capital partners through a series of investment panels, networking events, one-on-one meetings and the HealthKick Challenge pitch competition.

Medical technology startups pitched to Canadian and U.S VCs, other investors, c-suite leaders and industry partners for a chance win up to $25000 in cash prizes as well as in-kind services valued up to $10000 at the Healthkick Pitch competition. The competition showcased 16 Medical devices, pharma & biotech, and digital health companies, and three finalists were then chosen from each industry category.  The pitch competition prize was awarded to Nanology Labs, a pharmaceutical company that harnesses advanced nanotechnology to detect and treat cancers at the early stages. In kind services were awarded to the runners up, Managing Life, an industry-leading digital pain management solution, and ImmunoBiochem Corporation an oncology biotechnology company that is innovating the targeting of heterogeneous solid tumors.  

Healthkick Pitch Competition Finalists (Top left: Christopher Jones, Partner at Blakes. Top right: Mohammad Ali Amini, CEO at Nanology Labs. Bottom left: Tahir Janmohamed, CEO at Managing Pain. Bottom right: Anton Neschadim, CEO at ImmunoBiochem)

Fundraising panel discussions provided attendees with the opportunity to gain investor insights on deal making, raising capital, expectations following investment, and the effects of public markets on private health investing. The panel emphasised the importance of startups having alignment with the investor, understanding what value the investor brings to the table other than just money, and maintaining trust and transparency with investors after the close.   

Investing panel discussions ran in parallel with the Fundraising panels and addressed digital health, medical device and therapeutics investing, multinational partnering and corporate venture capital investing, as well as Angels and family offices investing in Health. The investing panels wrapped up with a discussion on “Why Invest in Canada,” which identified Canada’s medical technology infrastructure and talent arbitrage as major advantages amidst current political and economic volatility. But the panel also highlighted a lack of Canadian aspiration, emphasizing the need for a change in mindset to dream bigger in order to create anchor companies and advance medical technology commercialization.  

Tags: , ,

New FedDev Funding Announced- Business Scale-up and Productivity Stream

If your company is a Canadian or provincially incorporated businesses located in southern Ontario you may be eligible to receive a repayable grant to cover up to 35% of eligible project costs for a maximum of $10 million per project through the FedDev Stream 1: Business Scale-up and Productivity Stream.

The recently announced Business Scale-up and Productivity Stream aims to accelerate the growth of firms and assist with the adoption and adaptation of new, innovative technologies that support scale-up, productivity, development of and entry into new markets to help companies become globally competitive.

Applications will be accepted on an ongoing basis with no submission deadlines.

Eligible costs include:

  • Labor
  • Expertise
  • Non-Capital
  • Capital

Eligible applicants must demonstrate:

  • A minimum of 65% funding available for the project.
  • A sustainable business model
  • Financial, managerial, technical, and operational capacity
  • Minimum of 5 full time employees.
  • Market/industry demand
  • Potential for market growth
  • A viable project plan

Preference will be given to projects focused on issues and opportunities identified by FedDev Ontario as priority sectors, or projects that reinforce Ontario’s competitive advantage.

Tags: , , ,

Medtech startups will compete for up to $50,000 at SNG’s Hawk’s Nest competition

Logo

On November 22nd 2018, four medical technology startups will pitch live to an all-star panel of judges and a 300+ person audience at the second annual Hawk’s Nest.   

Sunnybrook Next Generation’s Hawk’s Nest is a medical technology pitch competition and fundraiser that showcases Canada’s most promising local medtech startups as they compete for a chance to win non-dilutive financing for their company.

It starts with dozens of startups. Numerous pitch applications from the city’s most promising emerging medtech companies are screened and interviewed. Four medtech startups are selected and invited to pitch live to an expert panel of “Hawks.” The pitches are followed by tough Q&A from the panel and scored across a set of categories. At the end of the night, the winner is selected by audience vote to receive 50% of the net proceeds from the event in non-dilutive funding, up to a maximum of $50,000. The remainder of the proceeds raised from the event are donated to the Sunnybrook Medventions Program.

The first SNG Hawk’s Nest competition in 2017 raised $38,000 in support of the Sunnybrook Research Institute and another $38,000 in support of the 2017 Hawk’s Nest winner, Tréxō Robotics.

Founded in 2016 by University of Waterloo Mechatronics Engineering graduates Manmeet Maggu and Rahul Udasi, Tréxō Robotics developed the first human exoskeleton device for children with walking impairment conditions such as cerebral palsy, brain and spinal cord injury, stroke, neuromuscular conditions, and various genetic conditions. In its first year, the company took home the prestigious Lacavera Prize at the University of Toronto Hatchery Demo Day. By 2017, Tréxō was nominated as one of the best new startups at the 7th annual Canadian Innovation Awards.

Tréxō’s unique device, the Trexo Plus, can convert any passive walker into a fully-powered exoskeleton that can be used anywhere, anytime, and at a fraction of the price of currently available competitor devices. “With our device we see a future where kids can be given an option to be able to walk more and more” said Trexo CEO, Manmeet Maggu in an interview. “Whereas normally a child will be walking 50 steps in a day, with the Trexo we envision that would be over 1000 steps per day” Maggu explained. The company recently rolled out a second generation device to improve on its previous exoskeleton’s design.

Since winning Hawk’s Nest competition last year, Tréxō launched its first clinical trial at the Cincinnati Children’s Hospital Medical Centre, the largest pediatric rehabilitation centre in North America and the first clinic to introduce the Lokomat, a computer-powered treadmill that gives Children with neuromuscular conditions the opportunity to learn what it feels like to walk.

While the funding they received has enabled Tréxō to reach their first clinical trial, the company plans on conducting multiple additional trials in order to continuously evaluate and grow their understanding of the benefits and the impact that their device provides. They recently received a Letter of Intent for a second trial at the St. Mary’s Hospital for Children in New York City and are currently in discussion with many top tier hospitals in Canada.

“The most important thing is to be relentlessly resourceful in your pursuit and finding support can be hard but it’s out there.”   

– Manmeet Maggu, CEO Trexo Robotics

Named as the ‘Company Most Likely to Change The World for the Better’ at the 2018 MIT Enterprise Forum Startup Spotlight Awards, Tréxō sees a future where their device can be in the hands of every child with a disability, giving them the opportunity to walk around freely. “Every time we have a child coming in to try the device, the response we get from the family about how they can’t wait to get their hands on this device for their kids just multiplies the motivation we have as a team and pushes us forward, and that is how we manage to uphold the values at Tréxō.”

The Medtech scene in the Waterloo-Toronto Tech Corridor is booming, but access to capital continues to be a major hurdle for growing companies.      

Tréxō financed their innovation through multiple different sources, including venture capital and government funding in addition to pitch competitions. “It is a tough space that can have fairly limited resources,” said Maggu.  “It’s a matter of leveraging your network and also creating a network and finding the opportunities that are out there. At the end of the day, the most important thing is to be relentlessly resourceful in your pursuit and finding support can be hard but it’s out there.”  He also recommends looking at grant programs that are available in Canada, and advised that companies “should not take the competitions lightly as they provide much more value than just the prize money.”

The success of Hawk’s Nest 2017 helped accelerate the growth of SNG and generated publicity for both Sunnybrook and the finalists Tréxō, Retispec, Acorn and VivaVax.

Toronto based Retispec is developing a non-invasive retinal scanner that detects biological markers of Alzheimer’s pathology years before the onset of symptoms, when patients are typically much more responsive to intervening therapeutics and other forms of treatment. Retispec recently announced a collaboration and a licensing agreement with the University of Minnesota with the goal of expanding the company’s technological knowledge base and accelerating time-to-market for a commercially viable screening tool for Alzheimer’s.

Acorn Biolabs has developed a mail-in non-invasive cell collection kit to cryopreserve and sequence human cells, while VivaVax is making biosafe formulations to protect sensitive medications from breaking down during transport and storage.

The 2018 Hawk’s Nest will host pitch finalists Steadiwear, KA Imaging, MIMOSA Diagnostics, and Cyclica  as well as over 25 booths from other Canadian Medtech companies.       

Toronto-based Steadiwear is a medical device company that has developed cutting-edge damping technology to improve wrist stability and tactile functionality in Parkinson’s Disease and Essential Tremor patients.Waterloo start-up KA Imaging has created a revolutionary 2D X-ray detector retrofit solution that can “see” different X-ray energy levels, enabling clear lung tissue visualization. A leading mHealth innovator, MIMOSA Diagnostics is building AI driven and cloud based patient monitoring and assessment tools. Cyclica is Toronto-based Biotechnology company developing a cloud-based and AI-augmented platform to enhance how scientists design, screen, and personalize medicines.

Hawk’s Nest 2018 will be held on November 22nd from 6-10pm EST at Toronto’s MaRS Discovery District and will be proceeded by an open bar reception.

CLICK HERE to get your ticket and join a high profile panel of “Hawks” and large audience of professionals in selecting which of these promising companies will take home the winning prize.

 

Tags: , ,

Vancouver Lunch & Learn at Fort Tectoria – Government Funding for R&D, Innovation and Growth

Lunch & Learn about maximizing government funding through the various stages of corporate development

Date: Thursday, September 27, 2018
Doors: 11:45 am
Presentation and Q&A: 12 –1:30 pm
Location: Fort Tectoria – 777 Fort St
Register

There are many Government Funding programs available to assist Canadian businesses with expenses related to R&D, new product development, manufacturing process improvements, tapping into international markets and workforce development.

Join this lunch & learn to learn about some of these programs, how they fit in the difference stages of your corporate development, and also about the limitations of government funding and the need for alternate sources of working capital.

Some of the funding programs covered include:

  • SR&ED (Scientific Research & Experimental Development)
  • IRAP (Industrial Research Assistance Program)
  • Innovative Solutions Canada
  • Innovation for Defence Excellence and Security (IDEaS)
  • BCIP (Build in Canada Innovation Program)
  • SDTC (Sustainable Development Technology Canada)
  • Canada Agriculture Partnership / Agri-Innovation
  • Engage, CRD, Mitacs (grants for working with universities)
  • CanExport
  • Eureka, GGI, CIIP (International research collaboration)
  • Hiring & Training Grants

 

A light lunch will be provided.

Please register by email to jaap@northbridgeconsultants.com.

 

About the presenter: Jaap Siekman MSc, PEng, PMP

Jaap is an independent business advisor and representative for NorthBridge Consultants. He educates start-ups and growing companies on Government Funding programs that support R&D and Innovation in Canada.

NorthBridge is a national consultancy firm, with offices in BC, ON and QC.

Jaap has ~28 years’ experience in Engineering, Manufacturing, Product Development and Management in a variety of industries.

Contact:
Ph: 604.562.5209
E: jaap@northbridgeconsultants.com

 

  • Subscribe to our feed
  • NorthBridge Consultants' Government Funding Blog is dedicated to bringing businesses news and information to help them identify and access the most appropriate government funding programs.

    We offer opinions and insider information that can provide a pulse on government initiatives, the health of the Canadian economy, and firsthand thoughts from Canadian business owners.

Most Recent Entries

Upcoming Events