Q + A

This QA page will be updated regularly - in the meantime please don’t hesitate to email us your questions at foundersfund@teasetea.com.

Applications have been extended to Sunday, May 5th 2019 at 11:59PM.

Questions below include:

  1. What is the Tease Tea Founders Fund?

  2. What are the eligibility requirements?

  3. Why Apply?

  4. What does the application process entail?

  5. How/ When are funds distributed?

  6. How to get Involved?

  7. How does the online mentorship work?

  8. I don’t have an HST number? Can I still apply?

  9. My revenue to date isn’t massive, should I still apply?

  10. What system do you have in place to ensure all confidential information is secured?

  11. I need help with my application, is there available support?

  12. Why are we asking for your financials?

What is the Tease Tea Founders Fund?

A four-month online program that is designed to help support women-identified entrepreneurs to support their early-stage growth and development. All participants will receive access to mentorship, online resources and the top 2 finalists will then also receive up to $20,000 in funding to accelerate their business further.

The Tease Tea Founders Fund is evidence that it is never too early or too late to start giving back during the entrepreneurial process. The world needs more companies making this world a better place. The world doesn’t just need one company but we need thousands of small businesses and entrepreneurs who are driven by passion, purpose and profit to really make a difference.

What are the eligibility requirements?

  • Be a Canadian Citizen.

  • Have been in business for a minimum of six months.

  • Revenue generating - under $500k in annual revenue

  • Over 18 years of age.

  • Women-identifying or underrepresented genders (100% ownership or majority owned)

    *Tease Tea supports gender identity and expression - identity related information provided in this application will be used for statistical purposes, and to ensure funding representation for this year's fund and for future programming.

    If you have any questions about the application or the scoring process, please email foundersfund@teasetea.com - this is the first year running this program and we are always looking for ways to ensure the application process is fair and equal opportunity for all possible applicants. *

Why Apply?

If you are not one of the applicants to receive the available funding - we have designed the program intentionally so that all applicants will still receive immense value from the overall application process + program. For Example:

  • ALL APPLICANTS - will have access to the available digital mentorship.

  • ALL APPLICANTS - will have access to our online community group where you can exchange resources and connect with like-minded individuals.

  • ALL APPLICANTS - will receive tailored and valuable feedback on their application from our official selection committee.

What does the application process entail?

The application process involves the following questions + steps:

  • 8 questions on the formal application

    1. Describe the mission, ethics, and values behind your company

    2. What is your unique value proposition?

    3. What problem are you solving?

    4. What is your revenue model? How much revenue have you made to date?

    5. What is your companies impact?

    6. What traction/ milestones have you accomplished to date?

    7. What are three setbacks that you or your company faced and what were the key takeaways you learn from the experience?

    8. How would you use the available funds? How would this initiative accelerate your business?

  • Up to 2 min video introducing yourself + your venture.

  • Cash Flow projections/ (2019-2021)

  • Up to 2 additional attachments.

  • Repost/ state why you're applying for this grant via social media and get an extra 1 point to your final score for every repost.

  • Companies will be scored against the following criteria:

    • Traction to date

    • Potential for Scale

    • Resilience

    • Company Impact

  • There will be 5 scoring rounds and the first round of scoring each company will be scored within the same revenue bracket. i.e if you made under $100K in revenue you will compete in a pool with companies that also had under $100K in revenue.

  • Key Dates:

    • April 9th 2019 Applications Open

    • May 5th Applications Close (11:59PM- Friday night!)

    • July 2019 Winners Announced

Top finalists will receive up to $20,000 in funding. Due to an overflow in applications our internal process has been delayed. Updates will be sent out in the coming weeks and funds will be distributed. We are announcing finalists in July 2019.

How/when are the funds distributed?

We believe it’s never too early or TOO LATE to start paying it forward for others. Send an email to foundersfund@teasetea.com for more information on how to get involved.

How to get involved?

We have curated a diverse and excellent group of mentors and experts in their field that have committed to paying it forward to emerging entrepreneurs through in kind mentorship - the topics include:

    • Offline Marketing: Experimental

    • Strategic Partnerships

    • Accounting & Finance

    • Funding Options + Bootstrapping

    • Scale -up ( Outsourcing)

    • Supply Chain Management

    • Personal Branding

    • CSR + Social Impact

      & more!

  • They will be hosting online office hours for 1 -2 hour, all applicants and finalists will have a chance to register for the mentorship office hours and will be able to access the online support + resources.

  • The mentorship will take place June 4th- September 30th, 2019, dependent on the mentors schedule.

How does the online mentorship work ?

We acknowledge some industries do not require this, if you do not have an HST number - you can still apply but will have to have a registered business number.

I don’t have an HST number?
Can I still apply?

No minimum amount of revenue is required to apply. We are encouraging all business to apply, regardless of what stage of growth they’re at.

My revenue to date isn’t massive, should I still apply?

We recognize that applicants might be submitting confidential information (i.e financials) about their business. The Tease Tea’s Founders Fund team has put the following procedures in place to ensure confidentiality remains within the selection committee process:

  • Official Selection Committee Oath

  • All Selection Committee Participants will sign an Non-Disclosure Agreement

  • Documents Provided will stored in a password protected PDF folder

  • All documents will be deleted after September 30th, 2019 - after program competition

If you have additional concerns about confidentiality, please email foundersfund@teasetea.com - we are always open to feedback and looking to remove any barriers for applicants.

What system do you have in place to ensure all confidential information is secured?

If you’re having difficulty with filling out the application or need further support with the process - please email foundersfund@teasetea.com and someone from our core team will assist you.

Please note the team member who will be assisting in applicants, will not be scoring the final applications and will not contribute to the formal selection committee process.

I need help with my application, is there available support?

Financial planning and knowing your numbers are crucial to the entrepreneurial journey and growing your business. Numbers can be scary, and can be overwhelming - this is why we think it’s important to add this element to the application process and if you need assistance filling it out, please reach out to our team at foundersfund@teasetea.com.

Please note all financial documents will remain confidential among the Tease Tea core team and the selection committee -this is supported by the following:

  • All Selection Committee members will sign NDA agreements

  • All Selection Committee members will take an official judges oath

  • All documents provided will be deleted after September 2019

Why are we asking for your financial projections?