Emerging Canadian Anchor Firms – Global Hypergrowth Project

Anchor firms have been key players in helping build and sustain economic prosperity in many key industries. They help foster strong labor markets and promote growth in overall economies. That’s why the Canadian government is looking for emerging companies who have the potential to become anchor firms in their respective industries.  

The government of Canada has launched the Global Hypergrowth Project (GHP) to help scale-up and keep operations, profits, and jobs here in Canada. The GHP program aims to work with outstanding business leaders to advance economic growth and support the best and brightest Canada has to offer.  

The overall objective of this program is to provide Canadian businesses with the resources and support that they need to help them grow and expand in the Canadian economy. This project will give selected Canadian companies the opportunity to expand and build their networks and business right here in Canada.  

Type of Funding available 

The global hypergrowth project will give successful companies an account executive who will help with funding, international expansion, talent acquisition, navigating federal regulation, accessing procurement projects, mentorship, and expertise. Successful candidates will also receive facilitated, fast-tracked connections to government support, a tailored service plan, and expedited application assessments.  

Eligible Applicants: 

Firms who have the following; 

  • $30 million in revenue (last 12 months) 
  • 40% gross margin (last fiscal year) 
  • 30% revenue compound annual growth rate (CAGR) over the last three years 
  • headquarters and at least 60% of employees based in Canada 

Eligible Projects: 

Health/ Bio-sciences Sector  
  • at least one product in Phase I of clinical trials  
  • current valuation of at least $50 million  
  • $25 million raised in total funding since inception  
  • headquarters and at least 60% of employees based in Canada  
Clean Technology sector
  • $20 million in revenue (last 12 months) 
  • $25 million raised in total funding since inception 
  • 20% revenue compound annual growth rate (CAGR) over the past three years  
  • Headquarters and at least 60% of employees based in Canada  

Project Timeline: 

  1. Companies who are identified as promising potential candidates for GHP will be contacted by an experienced member of the GHP team to set up a time to connect.
  2. The GHP representative will speak with the company contact to see if the firm meets the requirements for selection, and if GHP can help the company meet their unique needs in terms of growth prospects. 
  3. If the company is right for GHP, and wants to proceed, the GHP team member will collect the company’s Consent and an Expression of Interest. 
  4. Candidates will then be evaluated by a selection panel, consisting of Canadian business leaders and experts in both the public and private sectors, who are experienced at assessing companies’ growth prospects. 
  5. The Selection Panel will recommend up to 15 companies to the Deputy Minister of Innovation, Science and Economic Development Canada for inclusion in the GHP. 

Deadline for referral and self-recommendation submissions for this program is September 30, 2022. Companies can be referred to the selection committee, or they can self-recommend. 

 

Contact EVAMAX today to get started on your application!

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