The MaRS Discovery District has opened applications for another round of their embedded executive funding program.
The funding helps Ontario-based high-growth tech startups reach their next milestone by pairing them with a C-level or other senior level executive for six months.
Once a venture is accepted into the program, they can receive up to $50,000 (which includes costs of HST) toward the cost of the Embedded Executive’s salary. However, they are also required to contribute $15,000 cash (or 30% of amount requested) over the program’s six-month period.
In a blog post about the program last year, Sarah Aspler, then-communications assistant for MaRS, said “these executives join the small businesses on a contract basis to help the ventures reach specific short-term business goals, working side-by-side with the companies, providing a deep level of feedback and insights. With the addition of this team member, early-stage companies can better address problems, create solutions and gain exposure to new networks in a shorter time frame than they might on their own.”
Applications are being accepted until June 29th. Check it out here.