Canadian Business Grants: TECTERRA Industry Investment Program
Editor’s Note: Since this article’s posting, TECTERRA funding programs have been re-launched to provide enhanced support. For details of these new funding streams, visit Mentor Works’ TECTERRA program page.
TECTERRA is an organization located in Alberta that offers small business grants and investment funding programs as well as networking opportunities for Geomatics companies in Canada. Through TECTERRA’s Canadian business grants and support activities they aim to help small to medium-sized enterprises (SMEs) who create innovative technology in the field of geomatics to develop and commercialize their products and services successfully. In particular, TECTERRA’s Canadian small business grants and support services focus on helping those SMEs in the space of integrated resource management, as well as other geospatial innovations.
The Industry Investment Program Small Business Grants up to $500,000
The TECTERRA Industry Investment Program is a competitive, recurring opportunity for geomatics companies across Canada to respond to Calls for Proposals for investment funding for innovative geomatics technology. Government small business grants offered through this program focus on supporting geomatics innovations in the areas of:
- Land management
- Land development
The amount of funding provided through TECTERRA Canadian government grants under each Call for Proposal will vary but can be expected to be between $100,000 and $500,000 towards up to 50% of the project costs. The funding is provided as an investment that TECTERRA defines as:
- An interest free loan
- Repayable only upon the commercial success of the product
- Payments begin when revenue is being generated.
TECTERRA Industry Investment Program Business Grants Canada
To be considered eligible for TECTERRA small business government grants several requirements must be met. The proposed project must include hiring of HQP – at a minimum one person. Projects should also demonstrate partnership participation from any of the following: academics, foreign companies, government organizations, other for-profit companies. Project funding can be used for the following types of projects:
- Technology development
- Manufacturing readiness
- Channel development
- Other expenses related to the commercialization of a new product or service
TECTERRA Canadian Government Funding Benefits
There are several benefits for companies who are successful in accessing TECTERRA Canadian government grants. TECTERRA does not take any equity/ownership in companies that they provide with Canadian government funding and/ or other support services. Also important to companies, TECTERRA does not take any ownership of IP created from the projects they support. For successful applicants, TECTERRA maintains a state-of-the-art laboratory that can be for project related work.
Connect with Mentor Works Canadian Small Business Grants and Loans Experts
For more information on TECTERRA small business grants for your geomatics business, please contact a Canadian Government Funding Planner.