Get answers to common questions we receive about our funding programs. Find out if your technology qualifies for funding, what the application process is like, and if you need to give up control, IP, or equity if funded by TECTERRA.
FAQ #1: TECTERRA is focused on supporting the development and commercialization of 'geospatial' or 'geomatics' technology. I don't know if I fit in that category or not…? Simply put, does my technology qualify as geospatial?
Richard: Having geospatial technology in the equation is essential since this part of our mandate. TECTERRA has a fancy definition of what 'geospatial,' means, which is 'The collection, management, integration, analysis and display of geographic information describing the Earth's physical features and the built environment.' And we have a short definition, which is 'Knowing where things are, and using that information to solve complex problems.'
Any way you look at it, geospatial technology covers an extensive range of applications and can be an essential component of many different solutions. We are looking for is if 'geospatial', 'geomatics', or geographic is a significant part of the value proposition and is an integral part of a new and innovative piece of technology with high commercial potential.
The best thing is to sit down and talk to us about what you are planning. Let us determine whether you are 'geospatial enough.' Most companies that think they are in the zone on this aspect are correct and are happy they asked us.
FAQ #2: I have applied for funding in the past, and the process has been harrowing… with lots of time and effort and lots of hurdles to jump… and all for nothing in the end. Is TECTERRA any different?
The vast majority of our portfolio companies will tell you this: 'TECTERRA is very different in this regard.' We pride ourselves on being efficient and effective in running our operations, including our application process.
In the case of our larger programs, it is a three-stage process which, end to end, takes less than three months. Yes, TECTERRA requires that you fill in an application form, but these are concise and meant to capture only the information we need. Similarly, when we sit down to meet, those meetings are run very efficiently.
And if we are advancing you in the process, we think you have a good chance of being successfully funded and because we have money to invest.
FAQ #3: I have explored private investment options, but they all want to take a good piece of my company away and/or control the company's operations once they have invested. Is TECTERRA any different?
Our answer to this would be, yes, and we are very different. TECTERRA uses a funding model where you do not have to give up any control, IP or equity. TECTERRA's model, specifically the BUILD program, is a no-interest loan of up to 50% of the total project cost.
Once your new technology is built and ready to sell into your target market, you begin repaying us incrementally, based on your commercial success. If something interrupts your commercialization plans and you are not generating revenue, you simply do not pay us anything. So, in effect, we are de-risking the project by up to 50% - a pretty great deal.
It is best if we sit down and discuss the specifics of our funding option in more detail. It suffices to say you will never be giving up any part of your company or any part of your ability to control or direct the development and commercialization of your technology.
Interested in our funding? Start the conversation and connect with us today!