Starter Company Plus

Eligibility Criteria

• Must be 18 years of age or older
• Prepared to commit to a minimum average of 35 hours per week to run the business
• Do not have full-time employment or studies outside of the business more than 12 hours per week
• Canadian Citizen or Permanent Resident
• Fully responsible for the on-going operation of the business and are the majority owner (50 per cent or more)
• Be able to show investment in the business of at least $1,250.

Business Eligibility

The proposed business is a new start-up, within the first three years of operations, a part time business expanding into full time operations, or a newly purchased business and:

• is located in Niagara Region
• is an independent business venture
• is a legal business in Ontario
• operates at arms-length from family business ventures
• operates at full-time as defined in the business plan
• maintains its own books and records
• maintains a separate business bank account
• follows all government rules and regulations and applicable by-laws for the operation of the business
• has not received grant funds from the Starter Company Plus program previously. 

Non-eligible businesses

• Franchises, commissioned sales, and distributorships
• Business ventures that are continuations of existing commercial endeavours
• Not-for-profit, social enterprise, co-operatives or charitable enterprises
• Multi-level marketing ventures
• Single event such as musical ventures bands, DJs or dance/party event organizations
• Businesses that are strictly pay-per-click and 1-900 number businesses or subscription models.

Program Requirements

• All required training must be completed.
• All business documentation requested must be provided (business registration, articles of incorporation, proof of insurance, proof of personal contribution, etc.)  
• A business plan, start-up budget, and financial forecast must be completed, to the satisfaction of the SCEC, before being considered by the Grant Committee
• Program participants should expect the program to run over an approximate six-month period and should be able to commit to all training and mentor meetings in that time.  
• An exit interview must be completed. 

The Fine Print

Starter Company Plus is competitive in nature and there is no guarantee a grant will be awarded. Full eligibility and program details will be discussed at an intake session with the SCEC.

This program is delivered by the SCEC and funded by the Ontario Ministry of Economic Development, Job Creation and Trade. There are a limited number of grants available.

Complete the Starter Company Plus Application to get started. Within two business days* of submission, you will be contacted by the SCEC to confirm receipt of your application and be informed for any next steps. 

The SCEC reserves the right to disqualify any participant that, in its sole judgement, violates the spirit of the program and its guidelines, processes and rules. SCEC and its Grant Committee decisions are final.

The SCEC reserves the right to suspend, delay, modify or cancel these terms and conditions.

Please note:
All program participants will receive business training, however, not all will receive the grant/seed funding.

*Business days do not include weekends or holidays. 

Timeline

• Applications must be submitted by: August 2, 2024 at 4:00 pm
• Program start date: August 12, 2024
• Training phase runs from: August 12, 2024 - October 10, 2024
• Business Plans and Cash Flow Forecasts due: October 11, 2024 at 4:00 pm
• Pitch training: November 8, 2024 - November 22, 2204 (by invitation)
• Pitches to Grant Committee: TBD November 2024 - December 2024 (by invitation)
• Grant recipients must spend funds by: January 31, 2025
• Mentorship meetings: TBD January 2025 - February 2025 (by invitation)