Starting a business can be tough. How do you decide what to tackle first, who to reach out to or how to strategize? At Innovation Factory, we help innovative startups navigate the first steps to building a viable business and we’re dedicated to seeing them succeed.
Here’s some of what you’ll have access to as a client of iF:
To get you started as an iF client, we’ll schedule an initial meeting to get to know your startup/business idea and discuss the resources available to you.
Why would a customer pay for your product/service? We’ll work with you to pinpoint your solution and refine what makes you stand out from your competition.
The Business Model Canvas helps you bring clarity to your business. We use this tool in a strategic planning session to help visualize all the moving parts of your business and determine how it can best operate.
A business plan clearly defines how a business functions and where it’s headed. We take a hands-on approach to evaluating and improving it with you to help prepare your business for its next stage of growth.
Every startup needs strong mentors to help it grow and understand fundamental do’s and don’ts. At iF, we’re lucky to have a roster of knowledgeable mentors to steer our clients in the right direction – whether that’s developing a marketing strategy or tackling the U.S. market.
Every entrepreneur will find themselves needing to pitch their company many times over. Delivering an effective pitch requires proper messaging, a defined problem and solution, and a clear and credible path to executing that solution. iF can help you sharpen your pitch effectively.
Getting an understanding of your market from an expert, researched perspective provides great value to any startup or existing business. iF provides access to custom-researched market intelligence industry reports worth thousands of dollars, but provided at no cost to you.
In today's startup ecosystem, lean and rapid prototyping is the norm, and getting a minimally viable product in front of your customers is key. Our mentors and advisors can help you get from idea to prototype to production.
Most businesses will need a healthy dose of funding to continue to grow. We can help you explore and connect to different funding opportunities - from angel and VC investors, to government programs, bank loans and more.
Understanding the financial requirements and cash flows of your business can be tricky, but it's essential. Our team and network of advisors can help you effectively navigate your finances.
In 2014, Innovation Factory and McMaster University launched the incubator, The Forge - a collaborative workspace that provides youth-founded startups with training, mentorship and programming to get their businesses on the fast track to success.
Building a great product is only half the battle - your customers need to buy! We have seasoned sales mentors who can coach you through sales pipelines, customer acquisition strategies, CRM management and building a repeatable sales process.
Your business growing rapidly is a good problem to have, but growing your organizational structure with it can be a challenge. From redefining cost structures, identifying new suppliers, implementing software systems and more - we can help you prepare.
With an innovative startup, there often comes a "secret sauce" to protect. We can connect you with top intellectual property professional who can guide you through the patent and trademark processes, as well as expert corporate attorneys who can help you decide when and how to incorporate.
