Business Innovation and Growth Program 2017-2018
Accelerating Canadian SMEs through Innovation and Productivity Services at Centennial College
The Centennial College Centre of Entrepreneurship, with financial support from the National Research Council of Canada-Industrial Research Assistance Program (NRC- IRAP), announces the Business Innovation and Growth Program 2017-2018. The program is aimed at assisting in enhancing the innovation capacity of Canadian small- and medium-sized enterprises (SMEs), and is specifically targeted towards eligible small and medium businesses in the Greater Toronto Area.
There are many factors impacting a business’s capacity to innovate in this program, we have chosen to focus on business model design, innovation, strategy development and deployment as well as technology development support for mobile applications to deliver new products or enhanced service and or organizational productivity.
This free program is for you if:
- You are looking for growth through development and commercialization of innovative, technology-driven new or improved products, services or processes in Canada;
- You are operating in the Greater Toronto Area for two years
- You employ 2 to 499 employees.
Applications are accepted and processed as received, and will continue to be accepted until September 25, 2017, unless program spaces are filled up. Those wishing to take part in this program can apply online. Filling the form is the first step that gets one started in the intake process. Second step is inviting eligible applicants for discussion to explore if the program is a good fit with their business goals and is of benefit. The last step is selection / approval and agreement.
The program will be delivered in phases, beginning August 2017. A program calendar will be made available to businesses selected for the program. The program provides for business model design, innovation, strategy development and deployment as well as technology application development support to selected businesses through one or more of the following three program streams.
1. Business Model Design and Customer development (5 SMEs)
For developing an actionable strategic roadmap for early stage enterprises: This is flipped classroom experiential program delivered through workshops and one on one coaching to help with business model design, validation and business planning, as well as the initial strategy for identified business problem or opportunity.
The program will cover group learning through about 12 weekly experiential workshops, with individual business fieldwork aided by one on one coaching / advisory sessions.
The workshop modules will cover Business Canvas overview, validation unique value proposition, marketing channels, operational key metrics and cost /revenue estimation etc.
The process is learning by doing by founders for their respective businesses aided by coaching and advisory. The founders work on market. competition, understand financials; value proposition for customer segments, revenue model, channels, sales process, cost structure, partnerships and key metrics etc. as they develop and validate. Weekly workshop assists with initial application of knowledge to businesses in an interactive group setting and later refined in bi-weekly, one-on-one meetings, over the course of four months.
By the end of this program, the business should have a specific Business Model, business-specific validation conclusion, a business-specific unique value proposition, and a financial projection as well as an actionable strategy to build the business.
2. Innovation and Growth Strategy Development ( 5 SMEs)
Business advisory program for Business Model Innovation, Strategy design and deployment for growth based on the need of individual local Business. Delivered one on one with founders in regular Coaching and advisory sessions. to design and deploy the Strategy.
For introducing innovative new or improved products, services or processes as well as for growing existing business: we will assist the business to develop an innovative business model, a marketing strategy and action plan for accelerated growth. Delivered one on one with founders in regular Coaching and advisory sessions for them to design and deploy the Strategy. The process involves review of business needs, agreeing on a problem or opportunity to work on, setting direction and encouraging operations in keeping with an understanding of the industry; focusing all efforts on bringing value to the customer efficiently thereby enhancing the competitive edge for the business and innovating business model as necessary.
Depending on specific needs of the business it will need evaluation of existing strategies, value proposition, market segmentation, understanding competition, differentiation as well as development of positioning and the unique value proposition, along with market strategy and deployment.
By the end of this program, the business should have an actionable strategy addressing the problem or the opportunity that leads to innovation and or growth.
3.Mobile Application Development – (Fee of $ 5000 each-5 SMEs)
For improving service or product delivery and experience for your existing web based business ready with data required for coding the mobile app. This program will assist the business in developing a mobile application to support the organizational or market performance improvements. The process may involve some or all the following steps: information gathering, analysis, coding, testing and deployment.
We use the services of Centennial College’s Wearable Interactive and Mobile Technology Access Centre in Health (WIMTACH) experienced in this service area with data and participation from business to asses’ feasibility as determined by WIMTACH to meet an agreed scope of work. This would involve meeting the eligible SME who would provide inputs and data ready for coding the app for WIMTACH to determine feasibility based on resources and timelines. Upon being found feasible the scope of work is agreed with SME and service delivery is accepted for coding the mobile app.
At the end of the program, you will be provided with mobile App and development documentation as per the agreed scope of work*.
- Acceptance in this program stream is subject to feasibility assessment of scope of work and acceptance based on resources and timelines as determined by WIMTACH.
- This program stream is meant for existing Web based businesses launching mobile Application to enhance existing operations.
- This program stream has a nominal fee of $ 5,000.
For inquiries, please contact:
Centre for Entrepreneurship
416-289-5128, ext. 3416