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Embedded Executive

Placing senior leaders with Ontario's most-promising startups

Funded through the Business Acceleration Program (BAP), Embedded Executive Funding helps place a C-level or other senior-level executive with an Ontario-based technology venture to support achieving their next growth milestone.

Currently this program is not available. For more information please contact: bapfunding@marsdd.com

Overview

Lead from the front

Ventures can receive up to $50,000 toward the cost of the Embedded Executive’s salary. Each recipient will also be required to contribute $15,000 cash (or 30% of amount requested) over the program’s six-month period.

This program is best suited for novel Ontario-based tech ventures in a later discovery stage or approaching validation and efficiency stage of development.

Embedded Executive is funded through the Business Acceleration Program (BAP) to support entrepreneurs of the ONE network. BAP is funded by the Government of Ontario, and delivered and managed by MaRS.

Key dates:

  • Applications open: May 28, 2018
  • Deadline for application submission: June 29, 2018
  • Review and selection period: July to October 2018
  • Projects can be expected to begin: November 2018

Lead from the front

Eligibility

Venture eligibility

  • Novel Ontario-based technology companies with a clear, sustainable technological or market advantage.
  • The venture may have raised up to $2.5 million in total funding since its year established from sources such as venture capital, angel, personal capital, friends, family, government-funded investment programs and bank loans. This does not include funds raised from government research and development grants. In some exceptional cases, the venture may have raised up to $3.5 million in total funding. These exceptions include:
    • Cleantech ventures developing capital-intensive assets such as energy storage and energy generation technologies.
    • Life sciences ventures operating in the drug development, biotechnology, and medical and assistive device industries.
  • The venture may be pre-revenue or have under $1.5 million in revenue for a given year.
  • The venture cannot be a subsidiary of a larger parent company that would be ineligible.
  • The venture must be established for at least one year and may not be established for more than eight years.
  • The venture must have at least one full-time employee.
  • The venture must be a client with a Regional Innovation Centre (RIC).
  • Ventures with founders, staff or contractors that may also be a paid advisor, EIR or staff on contract at a RIC are not eligible.
  • Ventures that were recipients of the November 2017 round of Embedded Executive funding are not eligible to apply for this round of funding.
  • Ventures who have received funding from this program in the past should demonstrate a recurring need which will be considered on review.

Embedded Executive candidate requirements

  • Applicants must recruit their own candidate for this position; however, recruitment may occur after submitting the application.
  • The Embedded Executive candidate shall not have an existing relationship with the applicant venture outside the scope of the role and objectives provided in the program application.
  • The Embedded Executive candidate should not, directly or indirectly, be involved (whether personally or as an employee, agent, consultant, contractor, investor, shareholder, joint venturer, partner or in any other capacity whatsoever) in any enterprise, association, corporation, joint venture or partnership directly or indirectly associated with the applicant venture.
  • The Embedded Executive candidate may not be a paid advisor, EIR or staff on contract at a RIC.
  • The Embedded Executive candidate’s rate of pay should not exceed the maximum set by the program.
  • Candidates are encouraged to remain with the venture beyond the program term. In this case, ventures should consider the candidate’s salary rate and the funding amount requested upon application to ensure the sustainability of retaining the candidate.
  • Note: This program is intended to encourage new growth opportunities for the applicant venture rather than support existing resources in the venture. As such, Embedded Executive candidates are typically new to the applicant venture. On a case-by-case basis, however, the Business Acceleration Program (BAP) may consider supporting an existing resource in the organization. For example, in cases where this resource has been recently engaged or engaged on a limited basis, provided that the applicant venture can clearly demonstrate an opportunity for growth and impact during the program contract period.

Selection

A volunteer panel of reviewers with related industry expertise will select the ventures, basing their decision primarily on the following criteria (in addition to the company information provided):

  • Product / Technology Description
  • Value Proposition
  • Competitive Advantage
  • Revenue Model
  • Traction
  • Scalability
  • Job Description
  • Objectives and Outcomes
  • Why is this role crucial?

A 10 slide pitch deck is required to accompany the application but will be used as supplementary information.

Upon selection, ventures will be conditionally approved, at which time they will be asked to submit their Embedded Executive candidate’s information (if not already provided). The venture will be invited for an interview with their candidate before final approval is made.

Selection

Application requirements

  • Applicants must attach an Advisor Confirmation and Commitment Letter to their application, signed by their Regional Innovation Centre Advisor to confirm the venture’s referral, and the advisor’s mentorship commitment during the course of the program contract through at least two status meetings — at three-month and final six-month reporting periods.
  • Incomplete applications will not be reviewed (missing pitch decks, incomplete sections, et cetera).
  • The contract duration for this program shall not exceed six months and must begin upon contract signing, or the client will risk contract cancellation without payment.
  • Incomplete contracts will be compensated for costs incurred up to that point in time.
  • Compensation cannot be provided for work completed outside the term of the program contract.

Application requirements

Partners

Referring Partners

For further information on this program, please connect with your Regional Innovation Centre at a city near you.

Volunteer

Volunteer as a Reviewer

The Business Acceleration program runs a number of funding programs to assist Ontario tech entrepreneurs. Each year we receive hundreds of applications to our funding programs. It takes a community to firmly evaluate and provide crucial feedback to our applicant ventures, so we are always looking for industry experts who can help. For more information, please click below:

Contact us
Recipients

2019 Funding Recipients

2018 Funding Recipients

2017 Funding Recipients

2016 Funding Recipients

2015 Funding Recipients

2014 Funding Recipients