University of Toronto Early-Stage Technology (UTEST) Program
$650,000.00
In-Kind Support, Investment
Description:
The UTEST Program provides support to University of Toronto entrepreneurs to create research based companies. It provides companies with investment capital, mentoring, business strategy and incubation space at the University of Toronto St. George Campus.
Comments on Funding:
Funding is up to $150,000 in selected companies. The UTEST investment is in the form of a SAFE.
It also provides access to follow-on investment of up to $500,000 through TIAP.
Applications are closed. This will reopen in April 2024.
Eligibility:
Applicants must:
1. be startup companies based on technologies,
2. have one or more founders affiliated with the University of Toronto (students, faculty members, recent graduates – within 2 years, UofT-affiliated hospitals since 2020),
3. have disruptive and protectable Intellectual Property;
4. have created research, technology and/or innovations at the University of Toronto and disclosed to the Innovations and Partnerships Office as per the University of Toronto Inventions Policy.
5. be working on a life science-based opportunity to qualify for TIAP funding. Engaging with TIAP is at the sole discretion of the UTEST team who typically triage the most promising opportunities to TIAP. Since 2020 UTEST has accepted applications from UofT-affiliated hospitals. Please ensure an invention disclosure form has been submitted to your host institution’s technology transfer office and they are aware of the UTEST application.
Application Steps:
Applicants must submit a completed application online.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
1. Applications open in April 2024! Applications open online at the beginning of April each year with a deadline of early June.
2. The program starts in June and ends in December of each year. From June to mid-September, there is a time commitment of 6 hours per week for entrepreneurship training. The UTEST team is available throughout the program for informal meetings.
About the author
Maurice
