What kind of technology is eligible for this competition?
It can be any kind of knowledge-based product and/or service that is unique, compelling, and not easily duplicated.

What would be an example of a knowledge-based technology business?
Examples of knowledge-based technology could be information and communications technology, life sciences and clean technology, advanced manufacturing and aerospace. Specific examples would include software, medical devices, new construction materials and marine technology.

What is meant by start-up? Is it how long I have been in business or my sales revenue?
Start-up refers only to sales revenue and not the number of years in business. To be eligible for the competition, the business must not have generated sales revenue for longer than 24 months prior to October 8, 2009, the closing date of the first round.

Is an existing business eligible?
The I-3 competition is intended for start up companies. An existing business could be eligible if it meets the competition definition of a start-up. An existing business could spin the new knowledge-based technology product or service into a new legal entity. In the case of a spinoff, a commitment to legally form and register the new company is needed to be eligible.

What is required to enter this competition?
All entrants must meet the eligibility which can be found here. To enter round one of the competition, a 3-5 page business summary is required, detailed information about what to include can be found in the information kit, or under submission guidelines.

Can I enter if the technology is not yet fully developed?
Yes, you can enter if the technology is not fully developed. However, enough information must be provided to prove that it is feasible, credible and unique with defendable intellectual property and/or high barrier to entry and that it has a large national/international addressable market.

How do I submit my entry to the competition?
Entries must be submitted online at www.innovacorp.ca. An email will immediately be sent to you acknowledging receipt of entry.

Is there a specific time submissions are due?
Yes. Submissions must be received by Innovacorp by 5:00 pm AST on the round due date. See below.

Round Due Dates
Round One: 3-5 summary submission 5:00 pm AST on Thursday, October 8
Round Two: Full business plan 5:00 pm AST on Thursday, November  19

What is the overall timeline for the competition?

How will the zone winners be selected?
Each zone will have a six person judging panel that will determine which entrants will advance to subsequent rounds. This panel will also select zone winners.

If I have a compelling business idea, but am not incorporated, am I still eligible?
Yes, you are still eligible. However, if you are a competition winner, you may then have to establish an incorporated business.

In which zone should I enter?
You must submit your entry in the same zone as the civic address that appears or would appear on incorporation documents. For example: if the civic address for incorporation is in Sydney, you would apply in zone 5. Refer to the map below.

Note: Awards are intended for the establishment and/or future development of the new knowledge-based start-up business venture in the zone indicated by entrants in their round one submission.

Can I submit in more than one zone?
No, you can only submit in one zone. It will be the same zone as the civic address appearing on current or future incorporation documents.

Can I submit more than one entry?
Yes.

Will inventions, technologies, trade secrets and other confidential information disclosed remain confidential?
Yes, inventions, technologies, trade secrets and other confidential information disclosed will remain strictly confidential. External judges not employed by Innovacorp will sign non-disclosure agreements.

What does the award package include?
The first place winner in each zone receives $50,000 cash, a $20,000 HPi^TM Microfund investment, and $30,000 of in-kind business services.

The second place winner in each zone receives $25,000 cash and $15,000 of in-kind business services.

The provincial award selected from the five zone winners receives a $100,000 HPi Microfund investment.

*HPi Microfund: Unlike a cash award, which is designed to cover reasonable business expenses and is not repayable, the HPi Microfund is a targeted early stage venture fund managed by Innovacorp. The investment will take the form of equity or debt, or a combination of both, and is subject to Innovacorp's general investment principles.

What do the business building services include?
The in-kind business services in each zone include:

• Financial (accounting)
• Legal
• Market research
• Marketing (branding and/or website development
• Sales training
• Mentoring

Depending the zone, the following services may also be included:

• Printing
• Courier
• Office space
• Advertising space
• Rental car certificates

Who can I contact if I need help with my submission or for more information?
You can contact April MacLeod, I-3 Project Manager, who will direct you to resources to help in submission development. She can be reached by phone at 1.800.565.7051 or 902.424.8670 ext. 1177 or by email at   i-3@innovacorp.ca