Frequently Asked Questions

Learn more about UCeed and how to access funding

At this time, only child or general health-focused projects/companies can apply to UCeed. We plan to extend our investment platform to include additional sectors in the areas of social innovation, energy, and others in the future. Check back often as we update our program.

UCalgary technology spin-out companies often face a daunting challenge when raising capital. Attracting small investments from “friends and families”, or contributions from government, are usually the first step. Once those sources are exhausted, and more significant amounts of growth capital are required, entrepreneurs can often hit a brick wall.


UCeed funding helps bridge the gap between early-stage investment (friends and family or grants) and angel or capital investment while participating in business development programming to become investor-ready, quicker. UCeed will provide recipients with up to $300K of investment.

Yes. Each UCeed investee company will be paired with at least one mentor to provide advice and coaching, monitor milestones, and ensure that proper governance mechanisms are in place to maximize success. The program is designed to create investor-ready companies that are attractive to groups, including Creative Destruction Lab – Rockies (CDL-R), angel investors, significant granting agents, and venture capital firms.

Unsecured convertible notes, or deferred equity securities. It is often difficult to value companies that are very early in their development. Convertible notes or deferred equity securities help defer the valuation question until the investee can attract a sophisticated investor who is most likely in a better position to assess value.

UCalgary has an inventor-owned IP policy, meaning that UCalgary ‘creators’ own their inventions, but inventors must enter into a Revenue Sharing Agreement with UCalgary or Innovate Calgary when they are at the point of commercializing. 

IP can be assigned to a spinout company in the most efficient and cost-effective manner with no encumbrances or special terms that would be considered detrimental to attracting capital from future sophisticated investors.

Innovate Calgary is responsible for the management and operation of the UCeed Fund. The Investment Advisory Group, supported by the Innovate Calgary Management team, will recommend and make investment decisions on a quarterly basis. Funding is awarded competitively, based on a selection process conducted quarterly.

Applications must be submitted by the following deadlines to be guaranteed for funding consideration in the respective quarter: July 10, 2020 (Q3 2020); September 18, 2020 (Q4 2020); November 27, 2020 (Q1 2021); February 19, 2021 (Q4 2021).

UCeed will not request a Board seat as a condition of investment, but may request an observer status. However, if Innovate Calgary feels that the investee may benefit from a governance structure, then it may recommend that an independent director join the investee’s Board as a condition of investment.

Yes. For example, if the first-round application was not successful, you can apply for investment in the next quarter. We recognize that in some cases, your company/project may not have been at the right stage of development the first time you applied.

Applications must be submitted by the following deadlines to be guaranteed for funding consideration in the respective quarter: July 10, 2020 (Q3 2020); September 18, 2020 (Q4 2020); November 27, 2020 (Q1 2021); February 19, 2021 (Q4 2021). 

No. You do not need full-time staff in place before you apply.  Should your company receive an investment offer from UCeed, we will propose a reasonable transition period to allow the company enough time to hire its T4 employee(s).  

One of the primary objectives of UCeed is to accelerate the development of technology. To do this effectively, we believe that your company will require a minimum number of dedicated, full-time personnel whose focus is on developing the company and its associated technology. 

No. Your company does not need to be incorporated in order to apply.  However, UCeed only invests in companies so incorporation is required prior to the transfer of investment funds.

No. For confidentiality, additional documents cannot be uploaded; however, you can list other documents that you believe support your application in the Additional Information section for the review committee's consideration. To enforce concise submissions at the initial stage, character limits have been set to 500 words.

With the generous support of our contributors, we plan to make 10-12 investments every year in Child and General Health for five years. The applicability and quality of the applications will determine the actual number of investments will be determined by the applicability and quality of applications in each of the fund categories, and UCeed's ability to secure additional contributions.  

No. You do not need a Revenue Share Agreement (RSA) in place before you apply. However, should your company receive an investment offer from UCeed, one of the conditions will be that an RSA, if applicable, has been executed before UCeed advances funds.