There is $1.6 million up for grabs in cash prizes and grants available to Canadian startups in several industries, including FinTech, applied sciences, and others.
Academics and companies working on projects in the areas of natural resources and applied sciences can receive up to $300,000 from Innovate BC’s Ignite program to support their research and development efforts. Applications are due by July 4.
Innovate BC is a Crown agency of the British Columbia government that is mandated to fund and deliver programs to support the growth of the innovation economy in the province.
The agency launched the Ignite program in 2016 with funding from the Natural Resources and Applied Sciences Endowment. Funds from the initiative are specifically meant to advance research and commercialization activities in the province.
Eligible projects are required to have a “clearly articulated solution to an existing industry problem,” are beyond proof-of-concept but pre-commercial, and demonstrate the capacity to go to market within three years.
Projects must also secure matching funds from industry or government sources at a ratio of 2:1, with $2 from other sources matched by $1 from the Ignite program.
Last year’s recipients of the funding program include projects managed by Terramera, Daanaa Resolution, and Hydrogen Technology, and Energy Corporation.
FinTech startups from across Canada now have the opportunity to compete for three cash prizes that amount to more than $300,000.
This year, Platform Calgary and the Digital Commerce Bank are expanding the Digital Commerce Calgary FinTech award competition to include all FinTech startups based in Canada. The application deadline is June 12.
The competition selects 25 startups to go through a six-week program that involves interactive workshops, leadership panel discussions, coaching, mentorship, and networking opportunities.
The top five startups will have the opportunity to pitch to a panel of judges to compete for up to $300,000 in total prizes. Winners will be unveiled at the award gala in October.
Last year’s award recipients were Fillip and Fleet who took home a combined $310,000 in non-dilutive cash.
Montréal-based Momentum Ventures, the parent company of travel deals sites FlightHub and JustFly, has launched a $1-million prize for entrepreneurs to lead its next startup.
Momentum is a venture studio that has established a number of businesses across several industries including travel and entertainment.
The challenge is open to entrepreneurs across all verticals. According to Momentum CEO Matt Keezer, the purpose of this initiative is to focus on the people, rather than the business ideas. People can submit their applications as of today, through Momentum’s website.
“Ideas are freely available and execution is everything. We’re excited to hear from you, and we’re equally excited to support your ambitions,” Keezer said. Applicants are not required to have a well-formulated business idea, or any idea at all.
To enter the challenge, applicants must provide their personal contact information and a statement that describes their business, background, and aspirations, or make general comments.
Featured image courtesy Unsplash.