SDTC calls for preliminary clean technology applications
Sustainable Development Technology Canada (SDTC) last week issued its first of two calls in 2005 for Statements of Interest (SOIs) as part of its seventh round of funding. The closing date for SOI submissions is March 16, 2005. The call for SOIs invites entrepreneurs to submit simple, straightforward initial applications. This phase is designed to give SDTC a good sense of proposed technologies for preliminary screening, without imposing an arduous process on applicants.
SOIs are screened and evaluated by SDTC and a panel of independent experts to ensure adherence to selection criteria such as capabilities in technology, marketing and business (partnerships and funding). Each of these criteria is essential to project assessment. Applicants who meet SDTC's selection criteria will be invited to submit a detailed full proposal at a later date to be considered for funding.
SDTC, a fund for the development and demonstration of clean technologies, holds two rounds of funding each year, beginning with SOIs in January and August. The next call for SOIs will be August 24, 2005. In six calls for SOIs since April 2002, SDTC has received more than 898 submissions from more than 2,500 companies and organizations, representing $6 billion of clean technology project potential.
To date, SDTC has allocated a total of $89 million to 46 projects. That amount has been leveraged with an additional $254 million in funding from other project partners for a total project value of $343 million. This represents a 3:1 ratio of industry-partner contribution to SDTC investment.
In addition to directly interacting with entrepreneurs, SDTC has been working on their behalf to encourage the financial community-particularly venture capitalists-to pursue investments in clean technologies more aggressively. At the same time that SDTC is advocating a cultural shift in this community towards increased investments, it is also encouraging governments to focus their support for clean technology on the weakest link in Canada's innovation chain, i.e. the development and demonstration stage that typically precedes venture capital funding.
SDTC, arm's length, not-for-profit corporation, operates a $550 million fund to support the development and demonstration of clean technologies aimed at addressing issues of climate change, water quality and clean air and soil. SDTC encourages collaboration among private, financial, academic and public sector partners, requiring all applicants to involve a consortium of partners in their projects. It applies a stringent due diligence process when selecting technologies for support.
More information about SDTC's funding process and application request is available on its Web site, www.sdtc.ca.