Sustainable Development Technology Canada has seen excellent results from its pilot test of a new Seed Fund, which partners with accelerators across Canada to fund early stage start-up companies pursuing potentially breakthrough environmental technologies. Building on the success of the pilot, SDTC is continuing and expanding the SDTC Seed Fund.
There will be four funding rounds per year, with up to 100 companies receiving up to $100,000 each over the year. The accelerators invited to participate in the first round are submitting their company nominations this week.
The SDTC Seed Fund pilot test launched one year ago. Throughout the year SDTC partnered with 10 accelerators across Canada to identify 19 start-up companies to receive the initial grants. SDTC received overwhelmingly positive feedback about the program, which has enabled a tighter connection between SDTC and the innovation ecosystems that are growing across the country and in every sector.
The Seed Fund has also expanded SDTC’s reach along the length of the technology development pipeline. Companies need support from start-up through scale-up in order to achieve commercialization. By partnering with local accelerators who work directly with Canada’s entrepreneurs, the Seed Fund offers an efficient and effective way to support an expanded network of entrepreneurs
As the Seed Fund matures, SDTC anticipates that the most successful Seed Fund recipients will be well positioned to receive direct support from SDTC as they grow these Canadian businesses.