Proof-of-Concept Program
At a glance
- Max. $350,000
- 40% of project cost
- Open Date : July 08, 2020
- All industries
- Natural Products Canada
Overview
Eligibility criteria
The eligibility criteria for this grant program are:
- Canadian incorporated SME, start-up company, or academic research institute.
- Applicant must have a novel natural product or technology that aligns with NPC’s definitions and fits within TRL 4-9.
- SMEs and start-up companies must have the potential to achieve $10MM to $15MM in annual revenue.
- Products or technologies from academic research institutes must address a significant market challenge.
- Potential for economic, social, health, and environmental benefits.
- Technological advancement and benefits to the natural products ecosystem.
- Technical feasibility of the project.
- Potential for commercialization in Canada.
- Potential spillover benefits to more than one sector.
- Potential for improving the representation of women, visible minorities, and Indigenous peoples in the natural products ecosystem.
- A member of Canada’s Natural Product Innovation Cluster.
- Minimum NPC Contribution of $100,000.
Who is eligible
Eligible types of companies for this grant include:
- Canadian incorporated SMEs
- Start-up companies
- Academic research institutes
Eligible expenses
There are eligible expenses for this grant program. Eligible expenses include, but are not limited to:
- Cost of materials and supplies
- Laboratory or testing services
- Equipment rental or purchase directly related to the project
- Consultant fees for specialized expertise
- Travel and accommodation for project-related activities
- Intellectual property protection costs
- Legal fees directly related to the project
Eligible projects & activities
Summary: Projects or activities eligible for this grant must focus on developing innovative natural products or technologies with commercial potential, aligning with defined criteria and Technology Readiness Levels.
- Developing novel natural products or technologies within TRL 4-9
- Projects demonstrating potential economic, social, health, or environmental benefits
- Projects with technical feasibility and potential for commercialization in Canada
- Projects contributing to the natural products ecosystem and fostering diversity
Evaluation & selection criteria
The Proof of Concept Program evaluates applications based on the novelty of the natural product or technology, market opportunity, business model/commercialization strategy, competitors, strength of the management/research leadership team, need and impact of the trial, trial design and key activities, qualifications of the individuals and/or centers conducting the trials, and risk mitigation.
- Novelty of the natural product or technology
- Market opportunity
- Business model/commercialization strategy
- Competitors
- Strength of the management/research leadership team
- Need and impact of the trial
- Trial design and key activities
- Qualifications of the individuals and/or centers conducting the trials
- Risk mitigation
How to apply
- Step 1: Contact NPC at programs@naturalproductscanada.com if interested in the program.
- Step 2: NPC team member will review Minimum Eligibility Requirements and potential project scope with the applicant.
- Step 3: If eligible, submit an application for the program.
- Step 4: Applications are reviewed based on criteria like novelty, market opportunity, business model, trial design, and risk mitigation.
- Step 5: Initial review by NPC team; applicants may revise their application if needed.
- Step 6: Approved applications proceed to the Commercialization Sub-Committee for the final review and funding decision.
- Step 7: Applicants will be notified of the progress and final funding decision.