HATCH Venture Builder

By mmuise
Description:

The HATCH Venture Builder supports the thriving community of interdisciplinary UBC innovators who are building ventures driving social, environmental and economic impact to solve some of the world’s most pressing problems. Together, both organizations have created a place where entrepreneurs with the drive to shape a better world receive the guidance and resources to achieve their greatest potential. entrepreneurship@UBC and ICICS are able to provide venture teams with the space, resources, and expertise needed to take a business to the next level, whether that’s building a relationship with a first customer or securing a first major investor. entrepreneurship@UBC's bench of industry expertise, workshops, business interns, investor networks and a range of other resources are designed to support innovations with strong commercial potential.


Comments on Funding:

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Deadline: Continuous Intake
Eligibility:

1. Applicants must be UBC innovators who are building ventures driving social, environmental and economic impact to solve some of the world’s most pressing problems;
2. Preference is given to teams who meet the following criteria


a) Team:
i. A minimum of two committed team members, whereby at least one member of the team is full-time, and a plan for the second team member to transition to full-time at an agreed upon milestone (At least one member of the team must be a UBC student, faculty member or staff member, or a recent UBC alumni (within 5 years of graduation);
ii. Team is driving velocity, demonstrating they are self-determined, and all members are accountable and able to show progress on business milestones;
iii. Venture is incorporated, has retained legal counsel and any appropriate insurance, as well as the beginnings of an advisory board.
b. Technology:
i) Product concept is fully developed and has a proof-of-concept in a simulated environment
ii) TRL Level 6, a model or prototype. (See TRL definitions as indicated to estimate the level of development of your innovation.)
iii) If a patentable invention, clarity on Freedom to Operate or path to protection has been established
c. Traction:
i) clearly defined product-market fit and problem definition validated with customer archetypes;
ii) determined whether or not business model is predicated on product sales or partnering;
iii) developed sustainable business and financial model.
d) Treasury:
i) Operating run-way and plan for growth trajectory;
ii) Team has a vision for their venture's scalable strategy or "exit".
Application Steps:

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Documentation Needed:

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Other Things to Note:

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About the author
mmuise