The GrindSpaceXL application form was designed to help you explain your business venture to the panel who will be reviewing your application to the program. It is a good idea to submit your application early so that the program facilitators can follow up to request clarity, if needed.
This tutorial will walk you through the application step-by-step to show you what is required and to explain the amount of detail that should be provided for each question.
Some important notes before you get started:
- As you go through the application, you will notice a (?) question mark inside a circle for some of the questions. If you hover your mouse cursor over this symbol, additional help or hints will appear.
- Questions marked with a red asterisk * are required and you cannot go back nor progress to the next section of the form until required fields are completed for the page you are on.
1. Landing Page
The link to the GrindSpaceXL application will bring you to the form landing page. It is recommended that you create an account so that you can save your progress and return to the application should you not be able to complete it in one sitting (note: the application should take you about 1 hour to compete, depending on the level of detail provided in the long answer sections).
2. Contact Information
Be sure to enter your contact information correctly as we will be using this information to contact you about your application.
3. Incorporation Information
We can only accept companies that have been incorporated in Canada, whether federally or provincially. If you have not yet incorporated, you may still apply to GrindSpaceXL but you should plan to incorporate in the near future. Selecting ‘Yes’ or ‘No’ will show additional questions based on your choice.
By selecting ‘Yes’, you will be required to provide your company’s legal name, if different from the name you used in the contact information section (such as a numbered company operating under a different name). You will also be required to provide the date of incorporation and your business number.
By selecting ‘No’, we ask that you can confirm that you plan to incorporate in Canada, federally or provincially, within the next six (6) months.
4. Company Business Sector
On the Company Business Sector page, we have tried to capture as many indsutries as possible. If you are unsure, please select ‘Other’ or contact us and we can help you to choose the business sector that is the closest fit. If your venture fits in more than one category, select all that apply.
Note: Each checked box will produce more options within the sector. For example, if you select ‘Digital Media and Telecommunication’, you will find additional questions available to narrow your field. You may want to check out each category to see the sub-categories available within each sector. You may find another sector that your venture fits into.
5. Company and Product Description
This section is your opportunity to tell us about your company and where you currently are in your entrepreneurial journey. We strongly recommend that you attach a Business Model Canvas OR a slide deck that you would use to pitch your venture (only one document, please).
Describe in detail what customer segment you are addressing and what problem in that market your product addresses. If you have any customer feedback such as testimonials, this is a great place to put it.
If similar products already exist in the market, tell us why your venture is better or different than your competitors.
Tell us what stage of product development you are currently in. The choices are: concept or idea stage (no working prototype); alpha or proof of concept (a minimal viable product or rough functional prototype); beta or customer trials (a developed prototype that is released to potential customers for feedback); live and available for purchase (you are in the market).
Tell us what stage your venture is currently in. The choices are: pre-revenue (you have not sold anything yet); post-first revenue (you have made a few sales); recurring revenue or multiple revenue sources (you have a steady income stream from sales).
The last question in this section requires you to give us a bit of information about you and your team. Please include education, employment and any relevant experience related to starting up a company.
6. Intellectual Property
Intellectual property (IP) in this context refers to patents, either active applications or granted.
If you select ‘Yes’, you will be asked how many in each category as shown below.
In the Financials section of the application, you will be required to disclose how your business is being financed. Select all choices that apply to your venture. As you select each category, you will be asked additional questions related to amounts financed or revenues received. Please answer as accurately as possible.
8. A few final thoughts…
The information you provide here will help our GrindSpaceXL team to provide the best possible programming to you and future applicants.
If you have any further questions about the GrindSpaceXL application, please do not hesitate to contact us at email@example.com.