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 competiveness, 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

 

Related articles:

Go Global with Regional Economic Growth Through Innovation (REGI) program

 

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