Scale-up Hub Cambridge: Guidelines
1. Program Objectives
The purpose of the Scale-Up Hub: Cambridge Program is to expedite and scale export sales for Atlantic Canadian businesses in the US market.
The Program is designed to provide participating businesses with professionally guided and expediated entry into the New England market.
The Program will provide participating businesses with access to shared office space at the CIC in Kendall Square, Cambridge, Massachusetts for a 12-month term. The program will run from April 1st to June 30th. 2020 and resume September 7th, 2020 through to May 31st, 2021 inclusive.
The Scale up Hub: Cambridge program will offer the most optimal in-market time staggered over a 12-month period to optimize value to the cohort.
Participating businesses will also have access to experienced, in market business development professionals who will fully support companies in selling into that US market.
The primary objective of this “one of a kind” Program is to provide high-growth companies based in Atlantic Canada with a highly focused, expediated entry into the New England market to support sales activities.
2. Eligible Applicants
To be eligible for the Program, the business must:
- Be a technology-based, high-growth business possessing distinct innovation;
- Possess a proven record of annual sales growth;
- Be a provincially-registered business in good standing and headquartered in Atlantic Canada;
- Be engaged in commercial activities outside of Atlantic Canada;
- Possess a fully-developed exportable innovative product and/or service, including proprietary intellectual property, that can be sold into the New England market; and
- Have a business development strategy for the New England market outlining the following:
- Products/services and all related technologies and modifications, if any, required to adapt to the market;
- Product/service market fit for New England and any supporting research verifying fit;
- All internal and external sales support that clearly highlights who will lead the expansion into the New England Market;
- Challenges (competition, cultural differences, import controls, intellectual property status, certifications, regulatory, legal, financial, etc.) and how these will be overcome;
- Timelines and organizational resources (human and financial) dedicated to support an in-market presence in New England;
- Expected outcomes in the New England market including anticipated sales growth;
- Internal resources to support and manage growth from scaling in the New England market.
- Businesses not eligible for this Program include:
- Games of chance operations, bingo halls, small scale gaming operations
- Real estate developers
- Licensed liquor establishments whose primary business is alcohol sales (except production breweries, brew pubs, wineries, and distilleries)
- Distributors, agents, or associations
- Creative industries businesses including Music, Written and Published Work, Performing Arts (touring), Visual and Applied Arts (Contemporary Art, Production Craft, Photography, and Fashion Design)
- Publicly funded organizations
3. Program Commitments
Participating businesses will be expected to commit the appropriate personnel, in-market time (one week/month) and financial resources necessary to develop and execute on business development opportunities. It is expected that companies should be in the identified market monthly during the program tenure or as required.
Participating businesses are required to pay a non-refundable fee of $10,000.00 CAD +HST once accepted into the Program.
Participating businesses will be required to provide monthly progress updates to the in-market business development professional for consistent tracking of booked sales. At program completion, the business must complete a final survey to summarize results and evaluate the Program.
4. Program Criteria
Businesses must demonstrate how participation in the Program is linked to the company's business development plan for the New England market and clearly articulate how the Program will help accelerate sales in this market. The primary outcome of participation in the Program should be a substantial increase in export sales.
Applicants will be evaluated on:
- Strength of the company's business development strategy for the New England market; and
- Clear articulation of how participation in the Program will help accelerate export sales in this market.
5. Application Submission Deadline
Scale-up Hub Cambridge Program applications must be submitted by 12:00 PM (AST) on March 27, 2020.
6. Application Process
- Companies must complete and submit an online Application Form.
- Applications received after the submission deadline will not be considered.
Short-listed companies will be required to participate in a panel interview for final selection. The interview period will be scheduled upon short-list notification. Third party reviewed financial statements will also be required in advance of the interview and Notice to Reader statements are acceptable.
Following evaluation, approved businesses will be extended a Scale-up Hub Cambridge Program Agreement (the “Agreement”). The Agreement must be accepted, signed and returned within fifteen (15) days to be valid. The Program Management Team reserves the authority to remove a participating business from the Program if they are not compliant with the contractual agreement.
7. Other Pertinent information
- Nova Scotia Freedom of Information and Protection of Privacy Act
Information collected in connection with this Program is subject to, and will be treated in accordance with, the Freedom of Information and Protection of Privacy Act.
- Public Announcements and Disclosure of Information
Approved businesses hereby consent to:
- Participate in any public announcement or public ceremony relating to the business’ acceptance into the Scale-up Hub Cambridge Program and related accomplishments, at a mutually agreeable time; and
- The public release of project information including: business name, sector, region, cost per participating client in the Scale-up Hub Program, and cohort median sales growth in the target market through participation in Scale-up Hub Program.
For program details or assistance completing the Application Form, please contact your respective provincial lead listed below:
Government of Canada
International Business Development Officer
Atlantic Canada Opportunities Agency (ACOA)
T: 506.871.1462 | TTY: 1.877.456.6500