Client Spotlight: Funding Success for Creyos
It is crucial that a business understands and fits its projects to the overall desired outcomes of specific funding programs in order to be eligible for these opportunities. To help Canadian businesses understand how to align their projects to funding requirements of active government programs, funding specialists from Mentor Works, A Ryan Company, use knowledge and expertise from prior client wins, as well as connections to government officials administering the programs, to amplify a business’ application and increase the chances of approval.
Through government funding support since 2021, Mentor Works, a Ryan Company, has helped Creyos access over $1.6 million in grants and loans for innovation and economic growth projects.
In this client spotlight, we review the funding success of Creyos, the role funding services provided by Mentor Works, a Ryan Company played in helping them secure resources, and how specific funding programs can help businesses to meet their business growth goals.
“Mentor Works was very supportive in helping us apply for funding. The team was great every step of the way from positioning us well to staying connected and strategizing throughout the entire process.”
– Alex Sherrington, Chief Financial Officer, Creyos Health
About Creyos
Backed by over 30 years of research, Creyos Health (formerly Cambridge Brain Sciences) provides the healthcare industry with the most scientifically validated online platform for the objective measurement and monitoring of patient brain health. Adopted by healthcare practitioners in the fields of mental health, pain, neurology, and primary care, Creyos’ proprietary tasks and digitized standard behavioural health questionnaires help clinicians more accurately, efficiently and profitably evaluate patient cognition, leading to better clinical decisions and improved patient outcomes. With one of the world’s largest normative databases, the Creyos platform has been used in over 300 studies published in leading academic journals.
“Funding helps us accelerate and provides additional runway to execute on our growth plan. It provides us with valuable cash to offset early costs and increases the likelihood and speed at which we can reach our objectives.”
– Alex Sherrington, Chief Financial Officer, Creyos Health
Canada-Ontario Job Grant (COJG)
The Canada-Ontario Job Grant (COJG) is an Ontario government funding program that offers training grants to employers. Through the COJG program, companies may receive non-repayable funding from the government to purchase third-party business training programs, including training for in-demand skill sets.
There are three COJG levels of funding based on how many employees a business has, and whether new hires are included in the training:
- Large Employers (100+ Employees): Up to 50% of eligible training expenses to a maximum of $10,000 per trainee.
- Small Employers (<100 Employees): Up to 83% of eligible training expenses to a maximum of $10,000 per trainee.
- Small Employers Hiring and Training Unemployed Individuals: Up to 100% of eligible training costs to a maximum of $15,000 per trainee. All trainees are eligible for increased funding, not just those who are new hires.
“Hiring the right people is the most important determinant of success. Having funding to support those hires with training that enables them to contribute more quickly and more effectively is invaluable.”
– Alex Sherrington, Chief Financial Officer, Creyos Health
Canadian Grants and Loans Support with Mentor Works
Mentor Works, a Ryan Company pairs Canadian businesses with our skilled team of grant writers who can guide them through each stage of the funding process using their extensive funding knowledge and government insight. If your Canadian business has been incorporated in Canada for at least three years, has 15 or more payroll employees, and has a positive net income, consider working with Mentor Works, a Ryan Company to help your business find and access government funding that aligns with your unique projects and goals.
“The [Mentor Works] team has been proactive, supportive, and excellent in helping us access funding from different programs. Receiving non-dilutive funding helps us meet our business’ objectives and accelerates our growth.”
– Alex Sherrington, Chief Financial Officer, Creyos
Our comprehensive pre-qualification process leads to a higher rate of approval compared to average success rates of each government funding program, and our team truly believes in each one of the applications that we support. Contact our team today to get started.