Fed Dev Ontario Funding for Southern Ontario

 

For Companies in Southern Ontario, funding is now available through Fed Dev Ontario for innovative projects that :

  • Increase the number of high-growth firms by supporting the commercialization, adoption/adaptation of new, leading-edge and innovative technologies, products or processes.
  • Strengthen key clusters and build on areas of regional innovation strength.
  • Create and maintain highly skilled jobs.
  • Increase export value by improving business investment
  • Promote inclusive growth and participation of traditionally underrepresented groups such as women, Indigenous and young entrepreneurs.

Funding is available through the following streams to support these results:

1) Business scale-up and productivity

Type of funding:

No-interest, repayable contributions from $500,000 up to $10 million per project.

Organization Eligibility:

  • Innovative and globally-oriented businesses seeking to accelerate their growth.
  • High-potential firms (including accelerator graduates) that are commercializing innovative products, technologies and processes.
  • Firms with scale-up potential looking to improve productivity through the adaptation/adoption of highly innovative, first-of-its-kind technologies with the goal of global competitiveness and market expansion.

Project Eligibility 

Project Objective: 

  • High-growth firms conducting activities to scale up and expand.
  • Technology demonstration and the commercialization of new technologies.
  • Initiatives for early adoption or adaptation of leading-edge technologies and processes to improve productivity.
  • Increase businesses’ capacity to grow through market diversification and entry into global markets.

Examples of project activities include:

  • Leveraging risk capital to accelerate the commercialization of products and services geared towards market diversification and growth.
  • Automating and digitizing processes, and related skills development, to improve productivity and increase business capacity and competitiveness.

 

2) Regional innovation ecosystems

Type of funding:

  • Non-repayable contributions from $500,000 up to $10 million per project.

Organization Eligibility:

  • Not-for-profit organizations who contribute to fueling an entrepreneurial environment conducive to business innovation and growth.
  • Regional economic stakeholders who promote the entrepreneurial talent of underrepresented groups, including women, Indigenous peoples and young entrepreneurs.

Project Eligibility 

Project Objective: 

  • Grow and sustain strategic clusters and consortia that support businesses to scale up and commercialize innovative products, technologies and services.
  • Enhance the development and reach of business incubators, accelerators, and other organizations, which support entrepreneurs, start-ups and innovative companies with high-growth potential.
  • Support projects led by innovation-oriented organizations to increase and promote business productivity and global competitiveness, and investment and talent attraction.

Examples of projects include:

  • Encouraging the first customer for new technologies, products or services.
  • Delivering seed funding, mentoring, networking opportunities and other programs and services to enable the commercialization of new technologies by southern Ontario firms.

 

3) Community Economic Development and Diversification

If you are a not-for-profit looking organization focused on economic transformation in your community, learn more how to apply:

Type of funding:

  • Non-repayable contributions from $250,000 up to $5 million per project for not-for-profit organizations.
  • No interest, repayable contributions from $250,000 up to $5 million per project for incorporated businesses, including Indigenous businesses.

Project Eligibility 

Project Objective: 

  • Enhance business attraction, investment, retention and employment opportunities in southern Ontario communities.
  • Develop and expand collaborative efforts that strengthen regional competitiveness.
  • Support regional businesses, hubs and communities with the goal of economic diversification, integration and transformation.

Examples of projects include:

  • Creating financing opportunities to reduce risk and enable businesses to make investments in innovative technologies.
  • Integrating local businesses into national or global supply chains.

Source: Fed Dev Ontario

 

To learn more about whether your company qualifies for this funding & for assistance in preparing your submission and to position your application for approval contact EVAMAX Group to help you with the process.

You may also email us at info@evamax.com or call 1-877-711-7733

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