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A guide for Ontario high-growth firms
April 2017
Introducing:The Ontario Scale Up Vouchers Program
We are pleased to introduce you to the Ontario Scale Up Vouchers Program.
Introduction
This guide provides background about the Program and answers questions you may have about the program, your firm’s eligibility and the application process.
Program OverviewONTARIO SCALE UP VOUCHERS PROGRAM
Overview
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The Ontario Scale-Up Vouchers Program is a four-year $32.4 million initiative, funded by Ontario’s Ministry of Research, Innovation & Science (“MRIS”) and Ministry of Economic Development and Growth (”MEDG”) and accessed through three organizations: Communitech, Invest Ottawa, & MaRS, Regional Innovation HUB’s located in Waterloo, Ottawa & Toronto respectively.
Our program has a mission to accelerate the growth rate of Ontario-based technology and innovation based firms into globally competitive firms that drive disproportionate growth in revenue, exports and employment.We will achieve our mission by empowering high-potential Ontario firms with the mindset, networks and resources to achieve exponential growth.
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How will the Program achieve it’s mission?
Overview
Firms will have access to a network of growth coaches who have proven functional or sector expertise in scaling companies for global growth. Growth coaches will mentor firms by leading a co-creation process to develop “growth plans”, introducing firms to valuable networks, and guiding firms through an optional financial voucher application process.
The program will achieve it’s mission in two ways:
Growth Coaches
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How will the Program achieve it’s mission?
Overview
Firms will also be eligible to receive a financial voucher between $150,000-$250,000 to offset costs for various direct and indirect expenses. For example: Direct funding can be used to support technology prototype development or to hire an experienced product development executive to aid in the development and release of new products and services. Indirect funding can be used to support or assist scale-up firms with the costs associated with protecting intellectual property including legal and patent fees or to assist with the cost of training. The vouchers can be used for more than one service need and specific details on deployment options will be provided by the growth coach. Applying for a voucher is optional and firms that are not approved for a voucher will be referred to other existing support services that may meet their needs.
The program will achieve it’s mission in two ways:
Vouchers
ONTARIO SCALE UP VOUCHERS PROGRAM
Program Journey
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Program Journey
Firms will experience a six step process from intake to final potential voucher commitment. Along each step of the journey, the process will be ‘easy’ & ‘intuitive’ and firms will gain value-add through participation in the process, irrespective of receipt of vouchers.
2. Program Orientation
3. GrowthPlanning Kick Off
4. Growth Plan Iteration
5. Voucher Referral
6. Voucher SelectionFirms learn about program
through regional hubs, internet and other
community outreach activities
1. Existing HUB Firm Intake
1. Ecosystem Firm Intake & Approval
Firms’GrowthPlanswillbereviewedbytheIntakeCommitteebeforebeingreferredtotheSelectionCommitteeforfinalpitchandapprovalforVouchers.
Intake Step 1
ONTARIO SCALE UP VOUCHERS PROGRAM
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Intake
Who is eligible to apply to the Ontario Scale Up Vouchers Program ?
Ontario-based firms1 in high technology or innovation intensive industries with $1 million - $50 million in annual revenues that meet the following criteria are eligible for the program:
• 20% annual growth rate in revenue, sales or employment (for the most recent year); and/or• Secured private investment of at least $2 million in the previous two years.
For purposes of the program, technology & innovation intensive industries are defined as follows: Information and Communications Technology (ICT), Advanced Materials and Manufacturing, Clean Technology, Life Sciences.
1Ontario Based Firm” means a firm that: (a) is privately held; (b) paid, in respect of each fiscal year of the company, at least 50% of its wages, salaries and fees to employees and contractors who spent a majority of their time working in Ontario; (c) has, in respect of each fiscal year of the company, 50% or more of its full-time employees with their ordinary place of work in Ontario (provided that in the case of employees who were employees for only part of the year, and not the entire year, such calculation shall be done on a weighted average basis); and (d) has, in respect of each fiscal year of the company, 50% or more of its senior executives (VP and above) with their “principal residence” (within the meaning of the Tax Act) in Ontario
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Intake
Who is eligible to apply to the Ontario Scale Up Vouchers Program? (cont’d)
• The Scale-Up Voucher program will be inclusive of all Ontario firms.
• Three innovation HUB’s, Communitech, Invest Ottawa & MaRS will play a key role interfacing with all firms, leading and supporting them through intake. HUB’s will be expected to seamlessly work with Regional Innovation Centres (“RICs”) and other ONE (Ontario network of entrepreneurs) partners.
• Firms not associated with a HUB or RIC or ONE network partner can apply to the program directly via the intake link provided on the program website (going live on Apr 28th).
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Intake
How will firms apply to the program?
A private electronic intake* form has been created that takes approximately 30-45 minutes to complete after firms compile key information (information required will is articulated at the outset of the form). Firms will also be required to submit a simple endorsement letter ** from one of the ONE network partners or investors or other key partners/customers.
If firms are already working with an innovation HUB, account leads will guide them through the application process. If firms are not already working with a HUB, all information about the program, as well as application forms, can be accessed on the program microsite: http://www.ontarioscaleupprogram.ca (Going live Apr 28th)
Intakeform*https://scale.blitzen.com/form/Ontario-Scale-Up-Intake-FormEndorsementletter**- LinkprovidedinIntakeform
Program Orientation Step 2
ONTARIO SCALE UP VOUCHERS PROGRAM
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Program Orientation
If your firm is accepted into the Program, you will participate in an orientation session with your account lead who will introduce you to a Growth Coach and clearly set out what you can expect to
gain by being part of the Program, as well as what is required from your firm. Our goal is to ensure that Firm’s experience value-add along each step of the program journey.
Growth Planning Kick Off & Iteration Step 3-5
ONTARIO SCALE UP VOUCHERS PROGRAM
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Firms will be assigned a growth coach who will lead them through a collaborative and flexible growth coaching process:
Outcomes of this Process What this process is not
o A clear diagnostic of a firm’s growth challenges and opportunities
o A growth plan, created collaboratively, and anchored in fact-based insights
o Input into an optional application for the voucher Selection Committee to receive funding to focus on solving a priority growth challenge and/or opportunity
o A process to guarantee the receipt of financial vouchers
o A “box ticking exercise”o A prototype or product development plano A specialized international growth
consulting engagement
Growth Coaching
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Prepare
o Program participants are introduced to their growth coach by their Account Lead at each HUB.
o Growth coaches will meet with firm teams to obtain business profile and general information.
o Growth coaches will collaborate with firms to complete a diagnostic tool that will help to surface a firm’s unique growth challenges.
Meet & Greet Critical Analysis
o Growth coaches reflect on the outcome of the diagnostic and leverage the Program’s market intelligence services to gain further insights.
o Growth coaches prepare to lead firms through an immersion workshop by identifying a set of priority growth opportunities and preparing pre-mail communications.
Immersion
o Growth coaches lead firms through a collaborative workshop with a view to: building a growth priority business model & identifying priority growth levers and barriers.
o Growth coaches and firms seeking vouchers may collaborate to complete an online voucher application.
Optional: Prepare to Pitch
Growth Coaching Process
Voucher Commitment Step 6
ONTARIO SCALE UP VOUCHERS PROGRAM
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How will the financial vouchers be approved and deployed?
o Firms will be invited to apply for a financial voucher. An online application process will be available and will involve uploading the growth plan and presenting to the Selection Committee for 15 minutes.
o Not all firms will receive a financial voucher. Voucher awards will be determined by the Selection Committee, in accordance with a predefined process and scoring criteria. The value of voucher granted will be correlated to firm size as follows:
• $150,000 voucher-value for firms with revenues between $1 million and $5 million (with an expectation for firm matching 33% of voucher-value or up to $50,000); OR
• Up to $250,000 voucher-value for firms with revenues between $5 million and $50 million (with an expectation for firm matching 50% of voucher-value or up to $125,000).
• NOTE: The structure and terms of the voucher will be designed to afford scale-up firms with a lot of flexibility. Firms will receive contracts outlining the specific terms of their voucher arrangement, which will include the following two key terms: 24-month expiry and One-time recipient of the voucher.
Financial Vouchers
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How will the financial vouchers be deployed?
o Direct funding can be used to support technology prototype development or to hire an experienced product development executive to aid in the development and release of new products and services. Examples include: embedded executives, in-market international sales managers and product development executives.
o Indirect funding can be used to support or assist scale-up firms with the costs associated with protecting intellectual property. Examples include: sales training, operational excellence training, productivity audits and legal services.
o Voucher flexibility - The vouchers can be used for more than one service need and further examples of deployment options will be provided to successful applicants.
o Average timeline for voucher success – Intake committees will be taking place on a monthly basis and Selection committee meetings on a quarterly basis. The maximum turn around time from intake to voucher success will be a four month period.
Financial Vouchers
Applications
To access a simple application form, visit the following page:
http://www.ontarioscaleupprogram.ca (Going Live on Apr 28th)
If you have any questions please email us:
