MaRS – Regional Innovation Centres (RIC)

  • As one of the Regional Innovation Centres, MaRS helps entrepreneurs bring innovative ideas to the marketplace with recent funding from the Provincial government. The range of sectors served include: materials and engineering, cleantech, information technology and health sciences. Through shared sector-focused resources, MaRS and Ontario Network of Excellence advisors offer programming delivered by the Business Acceleration Program (BAP) and help determine capital requirements, prepare presentations, and provide connections with the right potential investors. RIC runs as well central services, very similar to MaRS top-notch programs such as developing the Entrepreneur’s Toolkit and Market Intelligence Services.

    • Amount: Contribution supports different elements:
    1. Business Project Funding up to $25k non-repayable to support business development, very specific marketing challenges,etc. These are very highly specialized activities to support growth – for instance, write white papers, IP, technology validation, etc.
    2. Embed an Executive – to support hiring a VP of Sales, VP Business Development, etc….up to max of $50k.
    3. Beta Customer Demonstration Fund – to help launch and support a new product sales arrangement. Funding – up to max $30k.
    4. Workshops
    5. Great toolkit with templates, cash flow, business plan details, marketing plans, etc.
    • Timeline: Assessed on a case-by-case basis. Continuous intake.
    • Eligibility: Early stage with truly innovative technologies to bring products and services to market with sustainable competitive advantage.

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