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Riz kheraj   govt. funding & resources for startups
 

Riz kheraj govt. funding & resources for startups

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    Riz kheraj   govt. funding & resources for startups Riz kheraj govt. funding & resources for startups Presentation Transcript

      • “ The Best Source of Funding is a Customer ”
      January 19, 2011 – Rizwan J. Kheraj (Dilbert comic strip – 2238)
      • Resources
        • Incubators / Accelerators
        • Mentoring Type Resources
        • Consulting Community
        • Private Funding
        • Government Funding
      • Incubators / Accelerators
      SFU TIME Ventures Innovation Incubator (IT / Cleantech) Center for Digital Media NRC - Institute for Fuel Cell Innovation (Cleantech) NRC Herzberg Institute of Astrophysics BCIC Entrepreneurship @ x series (IT) Alacrity Foundation (IT) Wavefront NCE – Wireless Commercialization (Wireless IT) Bootup Entrepreneurial Society (DM) WMedia Ventures (Consumer DM) The Centre for Drug Research and Development (Life Sciences) The Network Hub, Yaletown 209 (All) Discovery Parks– Vancouver (Tech Generator) (IT / Cleantech) Vancouver Island Tech Park (All) Okanagan Research and Innovation Center (All) - Talk to Dean Prelazzi at BCIC about latest list of accelerators
      • Mentoring Type Resources
      NRC-IRAP Advisory Services BCIC New Ventures Competition (NVBC) BCIC Mentor Program (w ACETECH) ACETECH - Growth Strategy Program, Market Entry BCIT - Commercialization Assistance Program BCTIA C4G (new), Xelerate Life Sciences BC - BC Excels DigiBC SFU Venture Connection, Greentech Exchange, Hatchery DFAIT Market Access Bootcamps Bootup Entrepreneurship Society (BES) – Mentorship events UILOs, VIATEC, KAST, OSTEC
      • Consulting Community
      Business planning Sales and Marketing Financing and funding strategy Human Resources Financial management, accounting, tax, SR&ED Legal and intellectual property Product development and Marketing Operations and Manufacturing Customer relationship management Strategic Partnerships Events – VEF, Bootup, DigiBC, BCTIA, Techvibes
      • Private Funding
      F&F, Angel Investors, VCs, Debt Financing, Public Markets VANTEC, Angel Forum Canadian Financing Forum NRC-IRAP Lions Den Western Universities Technology Investment Fund (WUTIF) FRACTAL Local VCs = YVP, GwC, BDC, VW, Panagea, Renewal Partners, Telus Valley VCs – connect through community Strategic Investors – KODAK, RIM, LG, etc Loans – CYBF+BDC $30K, VanCity CreditLine – up to $30K
      • Government Funding – 1 of 3 – BC (Before Customer)
      MITACS Accelerate - $15K – 4 month internship – M,PhD NSERC Engage - $25K – 6 month – Short-term R&D NSERC- USRA Coop Students - $4.5K – 16 weeks NRC-IRAP – Market Analysis – up to $30K – 75% 2-3 months NRC-IRAP – Youth (YEP) - $30K – 6-12 months – Tech/Non tech CMF – Experimental Stream – Development – up to $1m – 75% PRECARN T-GAP – up to $100K – 75% - 9 months SR & ED – Tax refund on R&D done - ~ 42% of R&D costs back NRC-IRAP – ARP – up to $50K – < 1 year
      • Government Funding – 2 of 3 – EC (Early Customers)
      Industry Canada SBIP – online technologies - up to $10K – 25% - 12 weeks CMF – Experimental Stream – Production & Marketing – up to $1m – 75% PWGSC - CICP - $40m - opportunity for FED GOVT to purchase and test SME innovative products and services – 2 yr program NRC-IRAP Technology Validation (ARP) - < $50K testing of the value of new innovations to a customer prior to buying NRC-IRAP Technology Development – few $1,000s to $1m DFAIT Going Global Innovation – up to $75K
      • Government Funding – 3 of 3 – CC (Customers Customers)
      SDTC – Clean Tech - $550m Fund – up to several $m – 33% late-stage development and pre-commercial demo of clean technologies Working Capital BDC Sub-debt – more flexible than debt financing EDC - loan or guarantee to financial institution or lines of credit Many banks – small business loans
    • Strategie d ’ innovation Technical and economic studies ($$) Graduates ($) Strategic information Projects ($$$) Innovation strategy NRC-IRAP Funding & Advisory Services CLIENT CLIENT Technical advice, Business advice Connector -> Customers, Investors International partnership, for export
      • NRC-IRAP - How Does It Work?
        • To directly support Canadian SMEs develop their technology, enhance their competitiveness and grow their business
        • It ’ s a &quot;contact sport ”
        • Initial contact between company and an IRAP advisor (ITA)
        • Discuss company ’ s business and strategy
        • Look at ways IRAP can help with funding & advisory services
        • Develop long term, “ trusting ” relationships
    • Whom to contact at NRC-IRAP?
      • ~200 Industrial Technology Advisors - 150 locations - 12,000 to 15,000 SMEs
      • BC – over 20+ advisors – all technology sectors - some IT sector focused
      • Nicholas Fong – Electronics, Telecom, Security, Wireless, Chip Design, H/W
      • Jerome Kashetsky – Gaming, Digital Media, Software
      • Hafeez Shaikh – Wireless, Embedded Systems, Software, Protocol Dev
      • Perry Quan – Business, Wireless, Software
      • Ken Gamble (Kelowna) – IT / Software Development
      • Rob Wylie (Victoria) – Software Engineering, Intelligent Systems, Computing
      • Slobodan Kuzmanovic – Software, Web 2.0, SaaS, SOA, Software Engineering
      • Glen Sampson – Business, Software, ICT
      • David Whitehead – Marketing, Digital Media, Software
      • Gary Au-Yeung – Computer Systems, Communications, Electronics
      • Riz Kheraj – Software, Wireless, Usability, Health IT
    • Best Practices when looking for Government Funding
      • Do your homework – put together a spreadsheet of RELEVANT government programs for your venture – how will a program(s) will move you forward?
      • Talk to your peer entrepreneurs who have participated in these programs – and get their take on them – strong & weak points – what worked?
      • Put together a clear 1-2 page write-up about your venture, what you need to do, and why you are approaching a particular program before you meet with a government program representative – preparation is key.
      • Identify the steps of assessment / eligibility required by the particular program and prepare a checklist of what you have to do to meet the criteria
      • Some programs (like SR &ED) have reporting / documentation requirements – make sure your venture ’ s paperwork is in place – timesheets, financials
      • Be aware of deadline application dates, and always apply early – government funding money gets allocated efficiently
      • NRC-IRAP Pacific
      • 604-666-6062
      • http://www.nrc-cnrc.gc.ca/eng/ibp/irap.html