Posts Tagged ‘FedDev Ontario’

New FedDev Funding Announced- Business Scale-up and Productivity Stream

If your company is a Canadian or provincially incorporated businesses located in southern Ontario you may be eligible to receive a repayable grant to cover up to 35% of eligible project costs for a maximum of $10 million per project through the FedDev Stream 1: Business Scale-up and Productivity Stream.

The recently announced Business Scale-up and Productivity Stream aims to accelerate the growth of firms and assist with the adoption and adaptation of new, innovative technologies that support scale-up, productivity, development of and entry into new markets to help companies become globally competitive.

Applications will be accepted on an ongoing basis with no submission deadlines.

Eligible costs include:

  • Labor
  • Expertise
  • Non-Capital
  • Capital

Eligible applicants must demonstrate:

  • A minimum of 65% funding available for the project.
  • A sustainable business model
  • Financial, managerial, technical, and operational capacity
  • Minimum of 5 full time employees.
  • Market/industry demand
  • Potential for market growth
  • A viable project plan

Preference will be given to projects focused on issues and opportunities identified by FedDev Ontario as priority sectors, or projects that reinforce Ontario’s competitive advantage.

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Investing In Business Growth and Productivity (IBGP)

FedDev recently announced a new funding program called Investing in Business Growth and Productivity (IBGP).  Funding will target projects that assist businesses to grow through market diversification and expanding facilities; or projects that increase adoption of new technologies and processes to improve productivity. Through a repayable contribution, companies can receive up to 25% of eligible project costs to a maximum of $20 million per project. Eligible costs for project activities include: labour, expertise, capital and non-capital. To be eligible under this program companies must be a Canadian incorporated business that is located in Southern Ontario and employ between 15 and 1000 employees.

Applications are reviewed on a ongoing basis and the application has 2 phases.

  1. Statement of Intent- Outlining, the proposed project, and its impacts and benefits.
  2. Once you receive confirmation from FedDev you will then submit the full application.

Funding will be made available as of April 1, 2014 and all project activities must be completed by December 31, 2018.

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New Southern Ontario Prosperity Initiatives From FedDev Ontario

FedDev Ontario has announced their Southern Ontario Prosperity Initiatives, which will have funding available effective April 1, 2014. The 4 main programs under the Southern Ontario Prosperity Initiatives are:

  1. Investing in Business Growth and Productivity (IBGP) – Assists existing southern Ontario businesses to adopt new technologies that have the potential to improve productivity and expand their operations.
  2. Investing in Business Innovation (IBI) – Fosters a more competitive southern Ontario economy by encouraging the development of partnerships between entrepreneurs and investors to support early-stage, globally-oriented businesses with the ability to become world-leading innovators.
  3. Investing in Commercialization Partnerships – Addresses innovation and commercialization, and encourages collaboration to improve Ontario’s productivity performance so that the region can compete on an international platform.
  4. Investing in Regional Diversification – Designed to build stronger, more diverse economies in southern Ontario communities in the long term by leveraging unique assets and local expertise, and by creating opportunities for economic growth and development in communities across southern Ontario.

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CME-SMART Prosperity Now Program

The CME-SMART Prosperity Now program provides funding to manufacturers in South Ontario who commercialize technologies, enter new markets, invest in renewable energy, improve efficiency, and invest in manufacturing efficiencies.  In January, FedDev Ontario announced that it would contribute $18.9 million to support Smart Prosperity Now.

SMART provides:

1. Up to 33 percent of costs for productivity improvement projects (up to a maximum of $75,000), and

2. Up to 50 percent of project costs for companies conducting productivity improvement assessments (up to a maximum of $5,000).

Applications are accepted on a first-come-first-serve basis until all funds have been committed.  Manufacturers must have 15 to 1,000 employees, and be looking to invest in product/process improvements to expand export markets.

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