Four awards of $2,500 are available annually to Ontario-incorporated tech companies in the Innovation Hub. This non-dilutive (grant) funding will be awarded toward approved business projects, and is provided by FedDev Ontario through the ScaleUp Platform, delivered by Invest Ottawa.
The Funding (Grant) Structure is a Matching Grant so each project application should be a total of $5,000, with a $2,500 total from the grant and $2,500 matching portion from the incubated company.
Applications for the first round of funding will be accepted in the final two weeks of October 2024 and awards will be issued in the second week of November following approval from Invest Ottawa.
Documents for Submission
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Selection Process
- Define Project
- Apply for grant.
- Internal selection process at Carleton University
- Announcement of grant winners
- Signature of Invest Ottawa Grant Agreements
- 90% Payment
- Project Work
- Submission of project reports and receipts
- Final 10% payment
Project Agreement Templates
- Project Description.
- Provide details on what you will do with the funding between the project start and end date. What objective(s) do you hope to achieve?
- Project Success Criteria.
- How will you evaluate success on the project?
- Project Budget.
- Provide a budget in Excel for how the funding will be spent over the project period. All costs should be reflected net of taxes. You will be required to submit a detailed claim at the end of the project, including invoices/receipts.
Recommendations:
- Clearly articulate each of the goals you plan to achieve within the project timeframe.
- Show how each activity directly contributes to achieving the project’s objectives.
- Identify and highlight each of the tangible deliverables that will result from the project.
- Clearly state how success will be quantitatively and/or qualitatively measured.
- Reference key performance indicators (KPIs), milestones, or other metrics that demonstrate progress. Include evaluation methods.
- Ensure that all success criteria align directly with the objectives outlined in the project description.
- Note that a few tailored paragraphs should suffice for each section. Aim to be as concise and thorough as possible.
- Avoid general statements without explaining how they relate to the project’s goals.
- Include important project details or context because reviewers may not be familiar with your field or prior work.
- Avoid vague success criteria like “satisfaction” or “success” without explaining how these will be evaluated.
- Avoid abstract goals that can’t be tracked or demonstrated, like “improving community well-being” unless you explain how.
Project Budget
- Provide a detailed breakdown of your budget using the Excel template to clearly list each budget item with its associated cost.
- Ensure costs align with project activities: Each expense should be linked to a specific part of the project plan.
- Reflect net costs: Ensure all costs are shown net of taxes, as required
- Follow all instructions for your final report and claim templates.
Examples of Eligible Expenses
- Consulting/contractor fees
- Incremental labour costs
- Software licensing
- Consumables directly related to project
- Professional services (lawyer, accountant, etc.)
- Marketing expenses
- Permits and licenses
Note: everything must be incremental to your usual activities (so no re-occurring expenses that would exist regardless of your receipt of the grant)
Examples of NON-Eligible Expenses
- Travel expenses (hotel, flights, meals, mileage, etc)
- Costs of land, building or vehicle purchase;
- Refinancing;
- Costs of intangible assets such as goodwill, whether capitalized or expensed;
- Depreciation or amortization expenses;
- Interest on invested capital, bonds, debentures, or mortgages;
- Bond discount;
- Losses on investments, bad debts and any other debts;
- Fines or penalties;
- Costs related to litigation;
- Non-incremental wages;
- Fees for administrators, incl payments to any member or officer of the recipient’s board of directors;
- Opportunity costs;
- Hospitality and entertainment costs;
- Costs of individual membership in a professional body (i.e. professional designations); and
- Lobbyist fees.
Note that although true travel costs such as hotels, flights, meals, and mileage are ineligible, other event-related costs are still eligible (exhibitor space, conference registrations, trade show marketing collateral, etc.)
Frequently Asked Questions
- What if I already incurred expenses before signing the agreement?
- Eligible expenses can incurred after you were alerted that you received the grant
- What happens if I have to pivot? Can I change my spending plan?
- Changes to activities to deliver the same project goals + outcomes are allow able provided the activities costs are still eligible. It is okay if you don’t meet your goals. The important thing is to outline how the funds were spent, what you learned and how it will help meet your goals in the future.
- Do I include taxes in my claim form?
- No, expenses should be claimed net of taxes.
- What happens if my expenses are incurred in a foreign currency?
- You must report costs in Canadian Dollars (CAD). Your invoice or receipt needs to specify what currency was charged. Ensure that you convert the costs to CAD in your claim form using the historical exchange rate for the date the invoice/receipt issued.
- Are travel costs allowed?
- No, however you can use grant for the activities that necessitated the travel, such as conferences, tradeshows or events.
- Can I claim benefits for labour costs in my claim form?
- No, benefits are not eligible costs.
- Can in-kind contributions be used for the matching dollar?
- Yes, but you must still have a receipt showing the cost that is covered from the in-kind contribution.