A list of the best Ontario business grants and loans funded by the Ontario Center of Excellence

  1. If you are an Ontario business thinking about applying for funding or looking for funding for a small business, look no further! There are Ontario business grants and loans for you!
  2. The Canadian government and provincial government under the leadership of Premier Doug Ford have funding opportunities and government funding programs for you.
  3. Business owners can apply for the following Canadian government grants, research and development funding and tax credits.

Ontario Business Grants

The Ontario Centre of Excellence Market Readiness Program is an Ontario business grant that aims to support academic spin-off companies, Ontario Centres of Excellence accelerators, graduates, and SmartStart Seed Fund awardees. The program provides Ontario business grants to further early-stage commercialization and support scalable business growth. It offsets a portion of project expenses related to customer creation and company-building activities

Who qualifies for Ontario business grants and what can you expect to receive?

  • Business owners can expect to receive between $125,000 up to $250,000 in Ontario grants
  • Business projects that include Customer Creation: after tech validation, funding to develop a scalable sales process or Company Building Program: sustainable business model development activities are eligible to apply
  • All Ontario SMEs incorporated within the last 5 years with < $500,000 in Customer Creation projects and < $1 million in Company Building Projects are welcome to apply

Ontario Centre of ExcellenceVoucher Program

The Ontario Centre of Excellence also has multiple voucher programs for businesses based on: 

Voucher for E-Business and Technology Adoption

  • This voucher program supports businesses that collaborate with colleges to provide support in the development of online tools to support the businesses’ market expansion and export opportunities
  • Academic institutions receive funding to allocate to help companies
  • Projects can be but are not limited to website development, online sales process, digital and social media, and customer relationship management

Voucher for Innovation and Productivity

This program provides financial support to for-profit companies collaborating with an academic partner to develop new products, services. This program is geared towards supporting the development of new export markets

Who qualifies and what can you expect to receive?

  • Business owners can receive up to 50% of project costs to a maximum of $20,000 up to $75,000
  • Eligible projects include research to develop new innovative products, processes, and services
  • It also includes projects geared towards expanding export markets

Voucher for Commercialization

This voucher provides financial support to companies attempting to commercialize innovations from Ontario Colleges and Universities as a start-up or through licensing

Who qualifies and what can you expect to receive?

  • Businesses can receive up to $50,000 up to 75% of project costs and up to 25% is provided to the applicant in cash and in-kind contributions
  • In order to be eligible applicants must be pre-recurring revenue or government investment of $250,000 or less
  • Eligible projects are business/market assessments, prototype design and develop, proof of concept demo, early customer engagement and business plan development
  • Projects can also be technology/innovation assessment, market assessment and strategy, prototype design and development, proof of concept demonstration, business, and another planned development

Ontario Business Grants and Loans for training:

Canada Ontario Job Grant (COJG)

The Canada Ontario Job Grant is a hiring and training Ontario business grant program that offers a direct wage subsidy to financially support employers who wish to train their employees further. It is applicable to small, medium, and large businesses that want to deliver short-term training to new and existing employees.

Who qualifies and what can you expect to receive?

  • Individuals, private and not-for-profit employers are eligible for this grant
  • It is applicable to all employers wishing to train their employees even one or two individuals
  • For this Ontario business grant and loan, employers must also make cash contributions, employ individuals selected for training, be licensed to operate in Ontario, be training the individual for a job based on Ontario and have adequate insurance
  • Businesses can expect to receive up to $10,000 per individual as a part of Canada Ontario Job Grant
  • Smaller businesses might be offered additional flexibility as employers with less than 100 employees may be eligible for $15,000 per individual

 

EVAMAX is an expert when it comes to Ontario business grants and loan applications.

Please contact EVAMAX today for any further questions about Ontario grants.

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