Hardware Catalyst Initiative
We understand that hardware founders experience unique challenges and have a finite amount of capital and time to bring their vision to reality. ventureLAB’s Hardware Catalyst Initiative is a competitive program that is offered at no cost and with no equity requirement to eligible companies. Dedicated to supporting both silicon and hardware companies for up to 24 months, the Hardware Catalyst Initiative is enabling Canadian companies to grow and scale locally to compete globally. ‍‍‍
Offered by ventureLAB
Amount
No specific amount specified
Quick eligibility check
Who can apply
We work with innovative growth and scale-stage hardware or enterprise software companies with some market traction. Your company needs to be incorporated in Canada and have a business (CRA) number. Most importantly, you must be coachable!
Eligibility
- Company was founded within 5 years immediately preceding the application
- Company earned less than $5M in revenue in last 12 months
- Directly involved in the development of a novel electronic product involving advanced elements such as a custom semiconductor, sensor, silicon-based IP, or embedded system hardware
- Has customer engagement that validates the need and demonstrates that the team can attract and work with customers
- Company is incorporated in Canada
- Has a CRA business number
- Has 99 or fewer employees
- Has a co-founding team (of at least 2 or more) capable of product development, customer acquisition, and investment acquisition
- If located in Canada, but not in Southern Ontario, the company has plans to establish a long-term presence in Southern Ontario
- If a Canadian Corporation, all IP developed through the program will be assigned to the Company.
- If a foreign-controlled company, a Canadian entity in Southern Ontario must be established prior to commencing the program, and all IP developed through the program must be assigned to the Canadian entity
About the funding
We understand that hardware founders experience unique challenges and have a finite amount of capital and time to bring their vision to reality. ventureLAB’s Hardware Catalyst Initiative is a competitive program that is offered at no cost and with no equity requirement to eligible companies. Dedicated to supporting both silicon and hardware companies for up to 24 months, the Hardware Catalyst Initiative is enabling Canadian companies to grow and scale locally to compete globally. ‍‍‍
Founder Expectations
Founders accepted into the Hardware Catalyst Initiative can expect to work with dedicated advisors and mentors to develop, review, and track:
Product design and development plan, including design and supply chain partners, and Prototyping & Testing Lab utilization.
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IP identification and strategic protection plan.
Customer engagement program with early adopter.
Financial planning of revenue growth, expenditures, and ongoing development of your pitch and investor engagement.
A talent acquisition plan, when applicable.
Exclusive Access to Resources for selected companies:
- EDA tools available: Synopsys
- CAD tools available SolidWorks, OnShape, MathWorks
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