February 8, 2018
Innovacorp is offering IT start-ups up to $5,000 in non-dilutive, non-repayable funding to assist with costs associated with participating in training programs.
If you’re an information technology start-up in Nova Scotia and looking to boost your team’s knowledge and skills, Innovacorp can help. They understand it’s challenging to fund employee training on a start-up budget, so they’re here to invest in your team’s professional growth.
Innovacorp is now accepting applications for training funds. Start-ups are asked to complete the APPLICATION FORM, answering the questions in the boxes provided, and submit it to us via email.
Participants will receive up to $5,000 in non-dilutive, non-repayable funding to assist with costs associated with training activities. Companies do not need to request the full amount.
Funds can be used for technical or business training. Maybe it’s an online course about building predictive models or a workshop on inbound sales tactics. As long as the activity fills a gap in your team’s knowledge base, Innovacorp will make it work.
Eligible costs include airfare (economy), accommodations, ground transportation and program fees for training in key business areas, such as technical expertise, sales, marketing, etc. Meals and entertainment are excluded. Other costs and types of training may be considered. All expenses must be supported with receipts and an expense claim form. Funding will be disbursed as 75 per cent upon application approval and 25 per cent upon submission of all receipts. All expenses must be incurred prior to March 31, 2018.
Applying is easy. Download the APPLICATION FORM today.
Eligibility
Applicants must be a start-up based in Nova Scotia with an information technology product and/or service. Applications must include proof of acceptance to the training program and a written recommendation from an Innovacorp investment manager, program manager or lead advisor.
Location: Nova Scotia-based and registered with Nova Scotia Registry of Joint Stock Companies (RJSC)
Stage: Start-ups with technology that has achieved at minimum a Technology Readiness Level of Three (At TRL 3, active research and design begins, with analytical and laboratory studies to determine whether the technology is viable and ready to proceed through the next development steps. During TRL 3, a proof of concept is often built.)
Sector: Information technology
People: Founders and/or managers have industry knowledge, management experience and commitment to the venture
Market: Large, growing international market
Competition: High barrier to competitive entry
Execution: Credible plan to reach key milestones
Evaluation
Funding will be awarded to companies whose applications clearly:
- provide an overview of the training program
- describe the training’s anticipated outcome
- explain how the training will help the business
- provide a detailed budget of the costs associated with the training
Confidentiality
All submissions will be treated confidentially and will not be made available to the public. Only those directly involved in managing the program or evaluating applications will view submitted documents. While submission details will not be disclosed, Innovacorp reserves the right to announce program participants.
Contact
For more information, contact Megan Maltby via email or by phone at 902.424.8670 ext. 1147 or 1.800.565.7051 ext. 1147 (Toll Free in Atlantic Canada).
You can find more information on Innovacorp’s website.