UPDATED: Everything You Need to Know About TECTERRA Funding Programs

Jul 25 2014
By: boastcapital
Categories: Business Resources, Innovation Funding
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tecterra

TECTERRA is an organization that supports the growth of the geomatics industry in Canada. This includes development in geomatics technology for integrated resource management (IRM) and other geospatial applications.

TECTERRA’s definition of geomatics is very broad. To be considered for their programs, your company does not have to primarily engage in geomatics based work but it needs to be part of the solution/product you are developing. Examples include consumer software apps to oil and gas leak detection, to tracking of humans and livestock.

There are a variety of funding programs so we’ve categorized them into five main areas: investments (loans); grants for commercialization; grants for hiring; and grants for research. We’ve taken it one step further and highlighted the main differences for each program. For more detailed information about each program, please contact TECTERRA directly.

PROGRAM UPDATE: TECTERRA recently updated a few of its funding programs so we’ve made the changes below. Here’s a brief overview of the key program changes:

 

Some people think that TECTERRA’s investment funding programs are straightforward grants. However, they are in fact interest-free loans that are repayable once the company starts generating revenue. It is interesting to note that if these loans are used for SR&ED eligible activity, they can potentially be claimed as expenditures in that fiscal year.

Industry Investment Program (IND)

  • Primarily targets SMEs who are focused on integrated resource management (IRM) technology projects. Other sectors are also considered.

  • Offers $150K – $500K investment and will cover up to 50% of total project cost. The remaining 50% will need to be provided by the company.

  • These funds are considered asset-backed loans and are repayable upon commercialization success (once your project starts generating revenue). The interest rate on this loan is 0%.

  • Projects will have duration of 6 months to one year.

Commercialization Support Services Program (CSS)

  • Ideal for small businesses and individual entrepreneurs in the implementation phase who require business support. They can receive financial assistance with strategic planning, human resources management, go-to market strategies, communications and branding, intellectual property management, business plan development and sales and mentorship development.

  • Offers $50K grant to cover eligible costs with approved service providers (APS) for one calendar year.

  • 75% of the funds are a non-repayable, 25% are repayable upon project completion.

Tradeshow Attendance Program (TAP)

  • Targeted at startups and small companies who are planning to attend tradeshows and conferences.

  • Covers up to 100% of eligible costs (hotel and registration charges) of up to 2 separate events, to a maximum of $20K in any one calendar year per company.

  • Applications must be submitted at least 45 days prior to the tradeshow or conference.

  • Ongoing application intake

GEO-Placement

  • Targets Alberta-based startups and small businesses who need to hire a technical and business geomatics graduate with a Msc or PhD OR sales and marketing (depends on current call)

  • Desired applicant must be a new hire, reside in Alberta during the funding term, and have a Bachelor’s degree, at minimum.

  • Provides a non-repayable grant up to $50K or 50% of the position salary for a period of one year.

University Applied Research Funding Program

  • Targets Alberta-based post-secondary research projects that have a clear path towards commercialization.

  • Projects require partnering with a for-profit company or end users in government.

  • Funding ranges from $100K to $500K depending on scope and duration. Projects conducted at the U of A, U of C and U of L can receive funding ranging from $100K to $500K.  Projects conducted at SAIT, NAIT and MRU can receive between $50K and $300K.

In addition to these funding programs, TECTERRA provides access to state of the art equipment for testing and development purposes in its Geomatics Lab. (Available free of charge for its portfolio companies and projects and highly subsidized for others.) TECTERRA also facilitates networking opportunities within the industry.

How do you apply?

Application periods fluctuate depending on the program so it is best to check TECTERRA’s website frequently for Calls for Proposals (CFPs).

A few of their programs have an ongoing application period. Some of these programs let you apply online whereas others require you to submit an application to an approved service provider first. Ongoing application programs include:

  • Commercialization Support Services (CSS)

  • Tradeshow Attendance Program (TAP)

  • Mitacs-Accelerate for Geomatics: Research Internship Program

  • Geomatics Commercialization Kick Off (GECKO)

Want more information?

For more detailed information about any of TECTERRA’s programs, please visit http://www.tecterra.com/, email admin@tecterra.com or call 403-532.4275

This blog is part of our ‘Non-Dilutive Financing for Entrepreneurs’ blog series. 



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