British Columbia (B.C.) is a hub for innovation, particularly in the fields of natural resources, engineering, and applied sciences. To foster this innovation and ensure that Research and Development (R&D) projects reach the market swiftly, the Ignite Program provides crucial funding and support. This program aims to add value to various industries, create new jobs, and bolster the provincial economy by expediting the commercialization of R&D projects. This article outlines the funding available, eligibility criteria, and the application process for the Ignite Program.
Funding Opportunities
The Ignite Program offers substantial financial support to eligible R&D projects, providing up to $300,000 in funding. This financial assistance is designed to help B.C. businesses bring their innovative projects to market more quickly, ensuring that groundbreaking research translates into tangible economic benefits.
Eligibility Criteria
To qualify for the Ignite Program, projects must meet the following criteria:
- Focus Areas: The project must be in the areas of natural resources, engineering, or applied sciences and clearly outline the business or industry problem it aims to solve.
- Partnerships: Projects must be based in B.C. and involve a partnership between at least one academic partner (such as a university researcher) and one industry partner (company or organization).
- Market Timeline: The project must have a plan to reach the market within a three-year timeframe.
- Matching Funds: Applicants are required to secure $2 in external matching funds for every $1 requested from the Ignite Program. External matching funds can come from industry, government, or both. A maximum of 50% of the matching funds can be from government sources such as NSERC, IRAP, and Mitacs. Up to 50% of matching funds can come from in-kind contributions.
Application Process
Applying for the Ignite Program involves several key steps:
- Project Proposal: Develop a comprehensive project proposal outlining the research, its potential impact, and the plan to bring it to market.
- Partnership Formation: Establish a partnership between an academic researcher and an industry partner, ensuring the project is rooted in B.C.
- Funding Strategy: Secure external matching funds, ensuring compliance with the program’s requirements regarding the sources and proportions of these funds.
- Submission: Submit the project proposal, along with evidence of the secured matching funds and partnership details, to the Ignite Program for review.
The Ignite Program represents a significant opportunity for R&D projects in B.C. to accelerate their journey from the lab to the market. By providing up to $300,000 in funding and requiring strong partnerships and matching funds, the program ensures that projects are well-supported and positioned for success. Eligible businesses and researchers in natural resources, engineering, or applied sciences are encouraged to apply and take advantage of this initiative to drive innovation and economic growth in British Columbia.
Deadline
The application deadline is July 4, 2022.
The anticipated notice of decision is January 2023. Funding is anticipated to start in March 2023.
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