Earlier this week, Jacob Serebrin of TechVibes reported on Toronto MaRS Discovery District’s plan to support as many as 30 start-ups expand their business by hiring on an outside executive.
The program is being dubbed, “The Embedded Executive Program,” and offers small businesses up to $50,000 to fund the hiring of a new “C-level or other Sr. Executive” for six months. While the program has been offered for the past two years, this third year is expected to be nearly as big as the last two years combined.
Ontario Start-up Funding Program Details
The Embedded Executive Funding Program for start-ups is designed to promote the growth of Ontario-based technology ventures by helping them to hire a senior level executive who will work with the venture to achieve specific short-term goals.
Funding Amount: This start-up funding program will provide ventures with up to $50,000. The venture itself is expected to contribute $15,000 in cash (or 50% of the amount requested).
Eligibility: The venture must be an Ontario-based tech company that has a clear technological advantage. The firm may have raised up to $2 million. Visit the program page for additional eligibility criteria.
Timeline: Accepting applications from January 13, 2014 until Monday February 3rd, 2014. Contracts can begin as of April 1, 2014.
Contact Your Regional Innovation Centre for More Information
This funding for start-ups program is offered through the Business Acceleration Program (BAP) to support entrepreneurs of the ONE Network. Contact your nearest Regional Innovation Centre to learn more about this program and the selection process.
Learn More about Small Business Grants for Start-ups
Mentor Works has helped hundreds of start-ups get their feet off the ground by offering expertise and advice on several government grants and loans programs available to early-stage businesses and entrepreneurs.
Download a Free Government Funding Eligibility Checklist in order to get started today.