Work with Pocketed to maximize program funding
- 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.
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.
- 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