Regional Economic Growth through Innovation - Steel & Aluminum Initiative

Funding request must be more than $150,000, to a maximum of $1,000,000 per applicant.

Application Intake Begins: March 11, 2019

Submission deadline: April 8, 2019 (Priority)

Program:

The purpose of the Steel and Aluminum initiative is to encourage Small and Medium-sized Enterprises (SME) that are heavily invested in the Canadian steel and aluminum industry to innovate and expand manufacturing capacities. Recent developments worldwide have significantly impacted small Canadian businesses. Investments provided by this fund will aim to strengthen the competitiveness and productivity of SME’s.

Funding Type:

FedDev Ontario will provide non-repayable funds on a 45% cost-sharing basis to cover eligible expenses up to a maximum of $1,000,000 per applicant. The grant request must be more than $150,000. Stacking is allowed with other overall government (federal, provincial, municipal) funding capped at 75% of eligible costs.

Eligible Activities:

  • Productivity Improvement: Capacity expansion, adopting or adapting innovative technologies
  • Business Scale up: Implementing best management practices, Market expansion/development
  • Technology Commercialization: Advanced stage project ready for market diversification and growth

Related: Go Global with Regional Economic Growth Innovation (REGI) Programs

Eligible Costs:

  • Cost of labour (e.g., wages and benefits);
  • Capital costs (e.g., purchase of machinery, equipment);
  • Operating costs that are directly related to the project (e.g., management fees), up to 20 percent of the total project cost;
  • Professional, advisory and technical services;
  • Costs related to intellectual property;
  • Technological development and commercial demonstrations;
  • Subcontracting costs;
  • Production and distribution of promotional material and management tools; and/or
  • Maintenance costs.

Who can apply?

  • Any type of business or social enterprise with steel and/or aluminum expenditures making up at least 20 percent of the total cost of goods sold
  • Eligible applicants must also employ 10-499 individuals on a full-time basis in Canada

Related: Fed Dev Ontario Funding for Southern Ontario

Deadline:

Projects submitted before April 8, 2019, will be given priority. The overall funding available is $39 million. If there are funds remaining after applications submitted within the intake period are processed, the remainder of the funds will be allocated on a rolling basis.

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.

 

 

 

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