Type of Program:
Catalyst Funding supports entrepreneurs, companies, students and fail forward applicants with their early-stage market validation & engagement activities, including: market studies or surveys, travel to access potential markets or customers, hiring of expertise to assist with development of a business/financial model, any costs relating to connecting to the market or potential customers (web presence, marketing, etc.) provided that this is specifically related to validation and development of prototype or beta product required to test the market (only in special circumstances-limited).
Comments on Funding:
Funding is up to $5000 for early-stage market validation and engagement, up to $1000 for students to test ideas and up to $5,000 for fail forward applicants.
Applicants are only eligible to be awarded total Catalyst Funding and Saint John TGF to a maximum of $5,000.
Funding awards are taxable.
When It Ends:
The applicant must:
ALL funding recipients are REQUIRED to participate in the Innovators' Jump Start Program.
must submit the online application form,
who have been short-listed will be notified by email and will often be invited to a meeting to discuss and determine the terms of award,
will be asked to submit proof of residency for the company/entrepreneur, if successful.
Once due diligence is completed, a Letter of Award and Terms & Conditions Contract will be issued.
Applicants must submit:
Funding recipients are required to provide interim and final progress reports.
Other Things to Note:
The ChangeMaker Funding Program is NOT about the funding. While the funding helps early-stage entrepreneurs and innovators test ideas and build sustainable business models, this program is designed to help build success through providing on-going support and opportunities.
The fail forward applicants are entrepreneurs and innovators who have experienced the failure of an idea or venture and they are ready to do an overhaul or pivot, or have an entirely new idea and are passionate about building a sustainable business. They are courageous entrepreneurs, whose ideas, dreams or ventures have failed (usually at least 4-6 months previously), who have learned from the experience, and who are committed to starting over.