ventureLAB - Hardware Catalyst Initiative

Source: Notion | Last edited: 2023-02-22 | ID: dc934b7a-5fa...

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, 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