Client Application

Thank you for applying to Saskatoon Ideas Inc., the business development incubator that will be located at 420 Avenue B South with an anticipated opening in February 2007.

Ideas Inc. will focus on two primary objectives - growing businesses and growing jobs in our community by bringing businesses in when they are small, and help them grow to the point that they leave as financially viable, growth oriented companies that have the capacity to carry market costs and hire even more people.

As a facility and a process that increases the odds that start up businesses will succeed, it is important to note that Ideas Inc. is a process, not simply a facility. The great value-add is the advisory expertise that is provided to incubator clients. It is also essential to note that Ideas Inc. is a training ground in which businesses will actually operate.

Applications will be reviewed by the Selection Committee of Ideas Inc. based on the following criteria. Successful applicants will be those that fulfill the majority of the criteria elements that follow:

• The applicant will have a viable, sustainable business operation, idea or plan.
• The company will be at:
  • The preliminary stage with a fully developed business plan, or
  • In operation and at a stage at which company growth is a strong possibility.
• The company will have identified some of the financial resources needed for execution of their business plan.
• The company will have strong potential for growth as measured by revenues or employment.
• The company will intend, in future, to occupy commercial space.
• The business owner will have identified a business opportunity that is deemed to be more likely to succeed because of the assistance of the Saskatoon Ideas Inc. and its resources.
• The business owner is willing to work with the Ideas Inc. Manager leading up to their entry as well as throughout their tenancy in the facility.
• The business owner will also work with a volunteer advisory group, treating them as trusted mentors, whose interest is the client’s success, agreeing to meet with, discuss business issues with and deal with the manager of Ideas Inc. and the advisory board on a monthly through to quarterly basis.
• The business owner will have developed at least a preliminary list of strategic partnerships that can assist with the development of the business.
• The business owner has made use of evaluative materials or processes from other business development agencies in Saskatoon.
• The applicant will have completed a brief business overview that includes analysis of financing strategies, marketing strategies, target markets, competitive analysis, financial projections and a business plan summary. The plan includes a three year growth strategy.
• The applicant will have utilized an external source to measure market capacity or have undertaken an independent market assessment.
• The business owner will have supplied appropriate references.
• The company, if in existence, will not be in commercial space prior to application.
• The business will have the capacity to graduate within a three year time frame.
• The applicant agrees to pay the royalty fee of 1% of gross revenues to Ideas Inc. by the 15^th day following each month end during the time in which the applicant’s business is a client / tenant at Saskatoon Ideas Inc.
• The business owner will agree to enable Ideas Inc. report, on an aggregated basis, statistics such as client growth and job creation.

home | about us | the centre | services | sponsors | contact us