Investing in Business Innovation – application information requirements (not-for-profit applicants applying for angel investor networks funding)

Important:

  • Before you begin, please complete the PDF Application. If you experience difficulty when opening the PDF Application, please refer to the instructions posted in the FAQs.
  • Please prepare a proposal that responds to the information requested below. Applicants are required to clearly address each item.
  • Review the guidelines for this program carefully to ensure your proposal demonstrates how it meets program requirements and objectives.
  • Attach your completed proposal to the PDF application form using the 'Add Attachments' button on that form.
  • For help with your application, please call FedDev Ontario at 1-866-593-5505.

A. Applicant Information

  • Provide a brief overview of your organization (founding date, history, mandate and membership, major services provided, number of employees by location, etc.).
  • Provide a list of the members of your organization's board of directors.
  • Provide your organization's articles of incorporation or letters patent.
  • Provide historical financial statements for the last two (2) fiscal years and the most recent interim financial statement.
  • Provide a summary of any federal or provincial government funding your organization has received within the last three (3) years, including:
    • Department/agency name;
    • Program name;
    • Dollar amount and type of assistance;
    • Description and purpose of the funding; and
    • Contact person at that department/agency.

B. Your Organization's Business Model and Impact of the Proposed Project

Project Overview

  • Please provide the following information:
    • Brief overview of your proposed project;
    • Strategic rationale for undertaking your project and how it fits with your business model;
    • Expected outcomes (e.g. innovation, research and development, sales, growth, market diversification, etc.);
    • Project start and end dates; and
    • Project location(s).

Customer Segments & Value Propositions

  • Describe the key services your organization currently provides and for each outline:
    • Key client/stakeholder segments (describe the levels of activity with each, as well as geographic, market and other relevant information); and
    • Value proposition provided to each client/stakeholder segment (what value your organization provides to them).
  • Describe how your project will impact the value proposition to your current key client/stakeholder segments and/or how your client/stakeholder base will grow or change.
  • If applicable, describe in more detail how your project will impact the products and services you offer.
  • Attach evidence, including analysis and underlying assumptions, that validates and substantiates your project's opportunity/need (e.g. market study, support letters from key client/stakeholder groups, etc.).
  • Provide an overview of similar or complementary services/programming provided by other organizations, including the degree, if any, to which they overlap. Indicate whether your project will create duplication of services and/or create synergies with these other initiatives.

Key Partners

  • Provide a list of partners/collaborators that are critical to delivering your organization's current value proposition. Partners/collaborators may include for-profit and not-for profit organizations, post-secondary institutions and community stakeholders. Describe their roles (in terms of customer relationships, channels, key activities and/or key resources).
  • As it relates to your project, please provide:
    • Name and location of all partners/collaborators (financial and non-financial);
    • Their anticipated roles (in terms of customer relationships, channels, key activities and/or key resources);
    • Their contributions to your project; and
    • Status of their support (to be requested, requested but not confirmed, or confirmed).
  • As it relates to your project, attach written confirmation of commitment (financial and non-financial) from relevant partner organizations, including evidence of their intended contribution.

Customer Relationships & Channels

  • Describe your current outreach activities and provide an overview of your organization's track record of successful partnership/collaboration with and/or delivery of services to small- and medium-sized enterprises (SMEs) and/or multinational enterprises (MNEs).
  • Describe how your project will help to develop or strengthen these outreach activities, partnerships/collaborations and/or delivery of services to SMEs.

Key Activities & Resources

  • Describe the key resources currently in place and the key activities currently undertaken to create and deliver your organization's value proposition. Include physical, intellectual, human or financial resources and activities, such as problem-solving, research, production or developing partnerships/collaborations.
  • Describe how your project will impact these resources and activities.
  • Indicate whether your project involves moving organizational assets (including physical and/or human) from one location to another, including details of the assets and where they are being moved from/to.

Cost Structure & Revenue Streams

  • Describe your organization's current financial performance and sustainability (e.g. cost structure and funding sources).
  • Provide details of how your initiative will be sustained beyond project completion.

C. Project Plan

  • Provide an implementation schedule for your project. For each major project milestone, provide the start date, end date and key activities.
  • Describe the accountability framework that will be used to effectively manage a multi-disciplinary, multi-institutional project and the management, operational and technical capacity to undertake the proposed project activities. Please include:
    • Project's governance structure and decision-making process;
    • Accounting, administrative and project management capacity;
    • Key human resources within your organization that have the necessary experience/expertise and additional expertise that may need to be acquired from outside the organization; and
    • Other experience and expertise required.
  • Provide a table of budgeted project costs by quarter and by cost category (labour, consulting and/or professional fees, other non-capital and capital). Describe any underlying assumptions and provide substantiation of forecasted costs (e.g. quotes, tenders, estimates, etc.).
  • Indicate and provide details on whether any partners (including related parties) will incur costs or have ownership of any key resources related to the project.
  • Provide a table of sources of cash funding and their status (to be requested, requested but not confirmed, or confirmed).
  • Contributions from FedDev Ontario are typically paid on a reimbursement basis. Explain how your organization will pay for costs prior to being reimbursed, or indicate if advances will be required.
  • Attach your organization's conflict of interest policy and describe how a potential conflict of interest would be managed if identified during the project.
  • If applicable, describe how the ownership of intellectual property (IP) is currently managed in your organization and how the ownership of IP developed through the project (foreground IP) will be managed (including what happens to IP if spin-off companies are created). Provide any documents related to your organization's policies and practices.
  • Identify and describe any significant risks and mitigation strategies related to project implementation and achievement of results.

D. Economic Impact and Results

  • Describe why FedDev Ontario funding is required and how it would make a difference. Describe the impact FedDev Ontario funding will have on any or all of the following: project scope (size), location (level of activity in Ontario), timing (project timelines), and economic benefits.
  • If applicable, describe how your project will contribute to the diversification of regional economies in southern Ontario.
  • If you are an angel network, with respect to the impacts specific to your project, describe your organization's targets in terms of:
    • Increased membership;
    • Number of start-up companies reviewed;
    • Number of start-up companies invested:
    • Dollar value of investments; and
    • Proportion of active members.
  • Describe and provide any relevant metrics as to how your project intends to support any or all of the following program-specific objectives:
    • Support the success of new businesses in developing globally-competitive products and services;
    • Strengthen angel networks and increase availability of investment capital; and
    • Support entrepreneurship and help new businesses to grow and succeed.
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