Scale-up Hub Cambridge: FAQ
1. What is the Scale-up Hub Cambridge Program?
The purpose of the Scale-up Hub Cambridge Program is to expedite and scale business development opportunities for Atlantic Canada businesses in the US.
The Program is designed to provide participating businesses with professionally guided entry specifically into the New England market.
The primary objective of the Program is to provide innovative, high-growth Atlantic Canada businesses with a focussed gateway into the New England market and to gauge and maximize their international competitiveness to expand their export sales.
2. How does the Scale-up Hub Program support Atlantic Canada businesses looking to export?
The Scale-up Hub Cambridge Program provides 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 7th2020 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 an experienced, in-market business development professional whose goal is to help drive export sales and facilitate strategic business development connections.
3. Is there a participation fee for the Scale-up Hub Cambridge Program?
Yes. Participating businesses are required to pay a non-refundable fee of $10,000.00 CAD + HST for the 12-month tenure once once accepted into the program.
4. What is the application submission deadline?
Applications for the Scale-up Hub Cambridge Program must be received by 12:00 PM (AST) on March 27, 2020.
Applications received past the submission deadline will not be considered.
5. What is the application submission process?
Companies must complete and submit the online Application Form. Don’t have time to complete the online Application Form at once? No problem.
You will be able to save information entered on your Application Form, close it, and come back to it at any point during the application timeframe to continue before final submission. Once the Application Form has been submitted, an e-mail notification will be sent out to confirm that the Application Form has been received.
6. Who can I contact for questions about the application process?
For program details or assistance completing the Application Form, please refer to the Program Guidelines or 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
7. What businesses are eligible for the Scale-up Hub Cambridge Program?
The Scale-up Hub Cambridge Program is open to provincially registered businesses, headquartered in Atlantic Canada that are in good standing and engaged in commercial activities outside of Atlantic Canada.
Ineligible businesses include:
- Games of chance operations, bingo halls, small scale gaming operations;
- Real estate developers;
- Licenced 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);and
- Publicly funded organizations.
High growth technology-based companies will be considered for the Spring 2020 cohort.
8. How will applications be evaluated?
Applicants will be scored and evaluated on:
- The strength of the company's product/market fit and business development plan for the New England; and
- Clear articulation of how participation in the Program will help accelerate export sales in the New England market.
9. What is the evaluation process?
Once evaluated, short-listed businesses will be notified and required to participate in an interview process for final selection. Interviews will be scheduled upon short-list notification. Third party reviewed financial statements will also be required in advance of the interview. Notice to reader statements are acceptable.
10. What is the application approval process?
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 team reserves the authority to remove a participating business from the Program if they are not compliant with the contractual agreement.
11. What information should my business development plan for the New England market include?
Submitted business development plans via the online application form, for the New England market should outline the following:
- The products and services, and all related technologies and innovations that the business plans to market and modifications, if any, that must be made to adapt them to the target market;
- Supporting research on product/service market 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;
- The strategy intended to be used to succeed in the market, including timelines and organizational resources (human and financial) dedicated to support an in-market presence;
- Expected outcomes in the New England market including anticipated sales growth in New England;
- Internal resources to support and manage growth from scaling in the New England market.
12. Why is my export strategy for the New England market and experience relevant?
Participation in the Scale-up Hub Cambridge Program is competitive. Applicants will be evaluated on the strength of their business development strategies for the New England market, as well as their articulation of the link between participation in the program and their export sales plan for this market, along with insights as to how participation will help accelerate export sales in this market.
13. Is there an expected level of commitment from participating businesses?
Yes. Participating businesses will be expected to commit the appropriate personnel, in-market time and financial resources necessary to develop and execute on business development opportunities. It is expected that companies should be in New England once per month or as required.
14. Are there reporting commitments from participating businesses?
Yes. Participating businesses will be required to provide monthly progress updates to the in-market business development professional for consistent tracking of booked sales. In the event of barriers or challenge, it is critical that a consistent flow of communication is maintained to address issues expeditiously. At program completion, the business must complete a final survey to summarize results and evaluate the Program.
15. How will performance expectations be managed?
Sales growth opportunities and business expectations will be established collaboratively and managed uniquely with each participating business.
For additional information, please refer to the Scale-up Hub Cambridge Program Guidelines or contact your respective provincial lead.