1. Cybersecurity fintech
Innovation Pilot Program (CFIPP)

2. Program overview
The Cybersecurity Fintech Innovation Pilot Program (CFIPP) is a one year, $7.8M pilot program funded by the Ministry of Research, Innovation and Science (MRIS) and delivered by the Ontario Centres of Excellence (OCE) in collaboration with the Toronto Financial Services Alliance (TFSA).
The program will accelerate the growth of cybersecurity start-up and scale-up companies in Ontario by partnering with financial institutions (FIs) seeking innovative solutions to cybersecurity challenges, and by providing them with cybersecurity talent.
Overall vision and goal: prosperity from innovation
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3. Objectives
Accelerate the growth of cybersecurity start-ups and scale-ups through technology development and demonstration projects that will catalyze the early adoption of innovative technologies
Engage the innovation ecosystem in Ontario to demonstrate innovative products and services that produce clear economic impact
Accelerate the adoption of emerging cybersecurity technologies and process improvements in the finance sector
Identify and address barriers to realize sustainable and long-term adoption of innovations/technologies in the finance sector
Identify, attract and retain Highly Qualified Personnel (HQP) with skills in cybersecurity for the finance sector
Overall vision and goal: prosperity from innovation
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4. Streams Stream 1 – Technology Development and Demonstration Projects
Start-ups or scale-ups with innovative cybersecurity products/services partner with large and medium-size FIs that are the end-users of the technologies, to develop and/or demonstrate cybersecurity solutions in the finance sector.
Stream 2 – Talent Development Projects 
Internships and fellowships are provided for students and recent graduates of Ontario colleges and universities with cybersecurity or fintech experience. Start-ups and scale-ups can tap into world-class talent coming out of Ontario's academic institutions and strengthen their capacity to develop new products, services, and processes.
Overall vision and goal: prosperity from innovation
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5. how funding works – Stream 1
Dev/Demo Projects
Start-ups and scale-ups can apply for up to 50 per cent of eligible projects costs  to a maximum of $100,000 OCE contribution for the technology development and/or demonstration portion of the project, with the balance of the funding (the match) coming from the start-up/scale-up (applicant) and/or FI (partner)
Expenditures may be incurred by the start-up/scale-up (applicant) and/or FI (partner)

6. how funding works – Stream 1
Dev/Demo Projects
Up to 28 projects are expected to be funded during the course of the pilot program
Projects may be up to 1 year in duration
Projects must start before March 31, 2018 and end before March 31, 2019 k

7. how funding works – Stream 2
Internships
Undergraduate (current final year) or graduate (current Masters or PhD, or recent Masters graduate) student from Ontario college or university
Four, eight, or 12 months in duration
Each four month Internship unit is valued at $20,000 ($10,000 from OCE, and $10,000 matching applicant/partner contributions of which $5000 must be cash towards the Intern salary)
Interns must receive a minimum compensation of $15,000 per four-month internship period k

8. how funding works – Stream 2
Fellowships
Post-doctoral Fellow with PhD from Ontario university
Up to 12 months in duration
Each 12 month Fellowship unit is valued at $85,000 ($35,000 from OCE, and $50,000 matching applicant/partner contributions, of which $25,000 must be cash towards the intern salary)
Fellows must receive a minimum compensation of $60,000 k

9. Flow of funds
25 per cent of funds will be released directly to the start-up/scale-up
The remaining funding will be released to the start-up/scale-up on a claims and reimbursement model for eligible expenses:
2 claim per fiscal, Mar 1 to Sept. 30 and Oct. 1 to Mar. 31
As funding will be released directly to the start-up/scale-up, the start-up/scale-up will be responsible for reimbursing the other partner(s), if necessary F f

10. Evaluation criteria
Applications will be evaluated by COR on a rolling basis using assessment criteria which include but are not limited to:
Significance of the market opportunity, and expected economic benefit to companies and Ontario (e.g. new revenues, job creation/retention, productivity improvements)
Technical merit and ability of the start-up/scale-up solution to address the FI’s needs
Expertise and experience of the project team members, clarity of roles and responsibilities, and evidence of collaboration
Clarity, feasibility and appropriateness of the project plan and budget
Evidence of next steps, and clear strategy and capacity to bring the results to market and/or implement at the FI
Potential for broader adoption and scalability of the solution
Overall quality and completeness of the application

11. Application Submission
Evaluation flow
Requires Revision
Withdrawn
BD Endorsement
Application Submission
Internal Review
External Review
PM Analysis
Funding Decision

12. timelines Milestone Date Application Intake
Ongoing until all funds are allocated, or December 15, 2017 – whichever occurs first
Partnering Forum
September 28, 2017
Project Start Date Deadline
March 31, 2018
Deadline for Completion of All Projects
March 31, 2019
Overall vision and goal: prosperity from innovation
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13. Thank you!