Business Incubation & Commercialization Grant Program: Programs and Events Stream

The Business Incubation and Commercialization Grant Program provides financial support to incubators and entrepreneurship organizations interested in creating business formation, innovation, and job creation in Toronto and who provide robust programming to new entrepreneurs, businesses and start-ups.

City Of Toronto

Overview of the Business Incubation & Commercialization Grant Program: Programs and Events Stream program:

BICP is designed to support not-for-profit entrepreneurship, incubation and accelerator activities whose primary goals are to create businesses and jobs, encourage the development of new ideas, and work towards organizational efficiency, sustainability and while utilizing industry best practices. The program does not provide grants to individual for-profit businesses, but instead is aimed at not-for-profit organizations that offer entrepreneurship and incubation or acceleration programming to entrepreneurs. The program 2 streams: 1. Multi-Year Operating Stream 2. Programs and Events Stream

Benefits of the Business Incubation & Commercialization Grant Program: Programs and Events Stream program:

Maximum grant: Up to 50 percent of eligible expenses to a maximum of $20,000.
Type: Contribution Agreement
(75 percent with 25 percent hold back) Applicant must demonstrate a history of successful entrepreneurship, campus entrepreneurship, or social enterprise programming.
Events:
Applicant must be able to provide a comprehensive budget for review with its application, demonstrating revenue of less than $100,000 for Programs or $50,000 for Events.
Maximum grant: Up to 50 percent of eligible expenses to a maximum of $10,000

Eligibility criteria of the Business Incubation & Commercialization Grant Program: Programs and Events Stream program:

Applicant has been incorporated for at least two years.
Applicant must demonstrate a history of successful entrepreneurship, campus entrepreneurship, or social enterprise programming.
Applicant must be able to provide a comprehensive budget for review with its application, demonstrating revenue of less than $100,000 for Programs or $50,000 for Events.
To be eligible for funding from the BIC program, an organization must have legal not-for-profit or charitable status and cannot be taking any equity from any of the start-ups it supports.
Applicants receiving any other core funding from the City are ineligible for a multi-year grant.
BIC Program supports college and university campus-led incubators and accelerators.