Hardware Catalyst Initiative

ventureLAB’s Hardware Catalyst Initiative is Canada’s only lab and incubator for founders building hardware and semiconductor-focused products, enabling the creation of transformative technologies that will power our products of tomorrow — including healthcare technology, consumer electronics, telecommunications, smart energy, connected transportation, and more. Funded in part by the Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), the Hardware Catalyst helps tech companies accelerate their time to market in a sector that normally incurs lengthy entry and scale times, enabling Canadian hardware and semiconductor companies to grow and scale locally, and compete globally.

Highlights

$7M

Prototyping and Testing Lab

4.89

indirect jobs are created for every 1 semiconductor job created

$15M

Industry contributions through resources, expertise, and mentorship

35+

Global partners

$200M+

Invested in our Companies

Explore the Program

We understand that hardware founders experience unique challenges and have a finite amount of capital and time to bring their vision to reality. ventureLAB’s Hardware Catalyst Initiative is a competitive program that is offered at no cost and with no equity requirement to eligible companies. Dedicated to supporting both silicon and hardware companies for up to 24 months, the Hardware Catalyst Initiative is enabling Canadian companies to grow and scale locally to compete globally.

The Hardware Catalyst Initiative provides direct resources to accelerate commercialization at scale through our initiatives focused on four pillars: raising capital, retaining talent, commercializing technology and IP, and customer acquisition. Our team of talented advisors and expert partner ecosystem will grow your business develop and the Hardware Lab will incubate your hardware technology solutions.

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‍What companies can expect:

24/7 access to the in-house prototyping & testing Hardware Lab with state-of-the-art specialized equipment
Dedicated, in-house advisory team and mentors to work with the company to define tailored business milestones, product development roadmap, and in supporting them with resource navigation and introductions
Access to a world-class ecosystem of partners and highly experienced hardware and semiconductor development experts
Specialized support for IP protection, market development, purchase and supply contracts
Access to resources through the Capital Investment Program to identify potential public and private funding opportunities
Access to Market Intelligence and premium reports from top-tier research firms
Premium access to industry specific programming and exclusive partner 1-on-1s
Free workspace (up to 2 badges per team) at ventureLAB’s Innovation Space
Access to ventureLAB’s Alumni Network, which connects graduated ventureLAB founders from across the tech ecosystem to resources, networks, and opportunities
Present to industry audiences through ventureLAB opportunities: showcases, Investment Cafés, and Demo Days.
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Application Process:

Step 1: Submit your application by March 6, 2023
Step 2: A team of advisors and experts will review your application and reach out for further details, or conversations
Step 3: After initial evaluation, ventureLAB will invite founders to present to panel for further consideration
Step 4: Panels will take place after the submission closure
Step 5: All candidates will be notified of their status within 6 weeks of the submission closure date
Step 6: Successful candidates will participate in a 2-month Hardware Catalyst Initiative Bootcamp where they will establish meaningful relationships with the ventureLAB team and partners, as well as build the foundation for the program
Step 7: vetureLAB will endeavour to provide all applications recommendations for our portfolio of programs and services

APPLY HERE!

IMPORTANT DATES*

Applications are OPEN: 1 Feb, 2023

Applications CLOSED: 6 Mar, 2023

Review Period Starts: 7 Mar, 2023

Review Period Ends: 11 Apr, 2023

Bootcamp Starts: 27 Apr, 2023

Bootcamp Ends: 9 Jun, 2023

Upon the successful completion of Bootcamp, ventures will be assigned a dedicated lead advisor and invited to engage in the Hardware Catalyst Initiative, starting immediately after its conclusion.

*dates subject to change

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If invited for Bootcamp participation, companies can expect:

The Hardware Catalyst Initiative begins with a Bootcamp, which will take place before formal program acceptance. The Bootcamp is intended to offer immediate value to a larger group of eligible companies, and allow for mutual assessment of fit before committing to the full program.

The objective of the Bootcamp is to engage participants in mapping out their expected client journey over the course of their participation with the Initiative to ensure alignment between the founders, ventureLAB team, and partners. Expected outcomes include:

Create early and meaningful connections with Hardware Catalyst Initiative Partners
Comprehensive Project Plan Review
360 Deep Dives, i.e IP strategy, product development, go-to-market strategy, and financial considerations
Relevant 1-on-1s with ventureLAB team, mentors and/or partners
Give founders a comprehensive understanding of the full breadth of resources and support available through the Hardware Catalyst Initiative, and how to access it
Confirm founder commitment by involving them in self-assessment and planning workshops with deliverables specific for their ventures

The Bootcamp consists of five main modules which are hosted weekly for 1.5-3 hours. It concludes with an introduction presentation in a Partner Showcase (an opportunity to pitch to our partner network, make connections and receive helpful feedback)
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Founder Expectations

As the Hardware Catalyst Initiative is a two-year intensive program all founders accepted into the program should expect to work with dedicated advisors and mentors to develop, review, and track:

A detailed product design and development plan, including design and supply chain partners, and Prototyping & Testing Lab utilization
A detailed IP identification and strategic protection plan
A detailed customer engagement program with early adopters
A detailed financial plan of revenue, expenditures and investment through the HCI program
If applicable, a detailed talent acquisition plan, revenue growth plan, and ongoing development of your pitch and investor engagement
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‍Apply to the Hardware Catalyst Initiative here.

Hardware Lab Subscription

Are you developing a hardware prototype and looking for convenient ways to test? ventureLAB is now accepting subscriptions to its world class Prototype & Testing Lab! Run as many tests as you want any day of the week or year, our lab is open 24 hours a day, 365 days a year! Save money and time by subscribing to a fully-functioning lab environment right in Markham! If interested, please contact Derek Ma directly to learn more at dtekangma@venturelab.ca.

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Eligibility

Company was founded within 5 years immediately preceding the application
Company earned less than $5M in revenue in last 12 months
Directly involved in the development of a novel electronic product involving advanced elements such as a custom semiconductor, sensor, silicon-based IP or embedded system hardware
Has customer engagement that validates the need and demonstrates that the team can attract and work with customers
Company is incorporated in Canada
Has a CRA business number
Has 99 or fewer employees
Has a co-founding team (of at least 2 or more) capable of product development, customer acquisition, and investment acquisition
If located in Canada, but not in Southern Ontario, company has plans to establish a long-term presence in Southern Ontario
If a Canadian Corporation, all IP developed through the program will be assigned to the Company.
If a foreign-controlled company, a Canadian entity in Southern Ontario must be established prior to commencing the program, and all IP developed through the program must be assigned to the Canadian entity

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