The Norman Esch Engineering Innovation and Entrepreneurship Awards
Do you have a new, innovative idea for a product, invention or technology, but lack the funds to make it a reality? The Norman Esch Engineering Innovation and Entrepreneurship Awards provide financial assistance to current engineering and architectural science students with the purpose of enabling new, innovative ideas for products, inventions and technologies that are relevant to the Canadian economy now and in the future.
The Stage 1 Esch Award supports students in the initial ideation stages. Up to 25 Interaction Awards of $5,000 each are available annually to help successful applicants develop work plans and complete market assessments. Applicants should conduct research to demonstrate that the idea does not already exist in the marketplace, and address the issues identied in the selection criteria. Award recipients must report progress within four months of receiving the award. Ten per cent of the award amount will be withheld until the report is received.
The Stage 2 Esch Award supports students who have completed formal market research which substantiates that there is market demand for their product or service. Up to 16 Development Awards at $8,000 each will be awarded annually to help successful applicants develop business plans or alpha/beta prototypes. Applicants should have considered the steps required to develop their ideas into businesses, and be able to address the issues identified in the selection criteria.Recipients must report progress within six months of receiving the award. Ten per cent of the award amount will be withheld until the report is received.
The Stage 3 Esch Award supports students who have completed formal business plans and/or alpha or beta prototypes. Approximately five awards up to $25,000 each will be awarded on an annual basis to help successful applicants conduct market readiness assessments, obtain legal advice, complete technology transfer agreements, etc. Applicants should be in a position to demonstrate that their idea has commercial potential and be able to address the issues identified in the selection criteria. Applicants must include a budget outlining the total request amount and anticipated expenses.