The role startup businesses play is essential to our neighborhoods and our economy, yet many struggle to raise the money they require to expand and scale their enterprises. Which is why the thriveFORWARD Program has introduced the Start-Up Stream. This Stream provides startup businesses with investments that support their actions towards increasing in labour, initiating more green practices, and using methods for acquiring capital. Overall, the goal is to drive the adoption of advanced technologies and contribute to clean inclusive growth and job creation across Southern Ontario by supporting and accelerating innovation and entrepreneurship.
Type of Funding Available
Eligible startups could receive non-repayable performance-based funding anywhere up to $25,000 in a certified incremental private investment. This funding will be released based upon successful completion of important milestones that have been agreed upon and show investment in advancing technology adoption.
Eligible Costs
Eligible costs for project activities may include:
- New incremental labour;
- Expertise;
- Capital; and
- Non-capital.
While ensuring that all costs are directly related to the project activities and are deemed reasonable.
Eligibility Criteria
“Startup” eligibility is:
- A registered for-profit incorporated business, partnership or cooperative;
- Located in southern Ontario;
- Formed on or after January 1, 2020; and
- At the pre-revenue/prototype stage to early commercialization stage.
Eligible Projects
- Investment in the adoption of advanced technologies
- Priority is given to projects with a focus on green technology, clean technology, and digital projects.
- Within or impacting critical sectors such as food production, medical supplies, or bio-manufacturing.
Deadline
For this stream they are accepting applications throughout the year until funding is depleted:
Application Period: Current Date – December 31, 2023
The thriveFORWARD initiative also offers the SME Stream which is a program for small to medium sized enterprises, the application period for this is now closed as of November 25th, 2022.
Call EVAMAX today to get started on your application!
