Posts Tagged ‘market entry’

CanExport Funding Increased and Expanded

CanExport is a government funding program that provides funding to Canadian small and medium-sized enterprises (SMEs) to support new export market development.

As of August 22, 2019, the CanExport project funding limit for SMEs will be increased up to $75,000 to cover up to 75% of eligible expenses.

Previously, the CanExport program excluded the agriculture and food processing sectors, since companies in these industries were already eligible for export funding through the AgriMarketing program. However, as of August 22, 2019, the program will also be expanded to support companies from Canada’s agriculture, agri-food and agri-products industry, including fish and seafood.

Eligible activities need to exceed the company’s core activities and focus on promoting international business development. These may include business travel costs, exhibitions at trade shows, market research, adaptation of marketing materials for new markets, and legal fees associated with a distribution/representation agreement.

In order to be eligible for funding through the CanExport program companies must have 1-500 full-time employees and $100,000-$100,000,000 in annual revenue declared in Canada. The CanExport program is open to companies in all sectors. Eligible markets include countries (and in some cases, regions) where the applicant has achieved less than $100,000 or less than 10% of the company’s total sales in that market in their last completed tax year.

For more information on the CanExport program and other sources of funding, please contact us.

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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