The MaRS Cleantech Fund is one of the most recent program additions by the MaRS Organization to provide funding for small business in the clean technologies sector. The program is funded through the highly regarded MaRS Discovery District, which provides equity investments to small business and start-up organizations looking to commercialize new and innovative technologies.
MaRS Private Capital for Business Innovations
The MaRS Cleantech Fund is a $30M initiative that will co-invest with Canadian Angel Investors to provide financing and funding for small business innovations in the green technology market. This small business funding can provide investments between $500K and $1M for early-stage companies with patentable green technologies or products that require additional funding for pre-commercialization expenses and testing. Along with investment funding, Ontario Regional Innovation Centres (RIC) provide a network of industry professionals with a wide range of expertise to share advice and information throughout the product development and testing phase. The program expects to accelerate and expand Ontario’s clean technology sector as global economies become increasingly focused on sustainable and green technologies.
Eligibility Factors for Small Business Funding
In order to receive funding and investment through this program, eligible candidates must meet the following criteria:
- Early-stage organization with a focus on clean-technologies.
- Possess a strong management team.
- Have a patentable technology with large global market potential.
- Able to reach significant project milestones with an investment of $1-4M
MaRS Funding for Small Business in Ontario
The MaRS Government Funding Organization provides a variety of programs and opportunities for Ontario Small Businesses looking to expand their market and product offerings. The following is a list of programs offered by the organization for small businesses and start-ups:
- VentureStart Program: Provides up to $30K in seed financing for entrepreneurs looking to launch a new venture in Southern Ontario.
- MaRS Investment Accelerator Fund (IAF): Provides up to $500K in early-stage financing to entrepreneurs requiring financial support for technology development and commercialization.
For more information on the Canadian Government funding grants for small business and start-ups, please contact a Mentor Works Canadian Government Funding Expert or subscribe to our Weekly Government Funding for Small Business Newsletter. Our readers can also receive daily funding updates by following our channels on LinkedIn, Twitter, and Google+.