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Fund Description

FedNor’s goal is to encourage economic growth, diversification, job creation and self-reliant communities in Northern Ontario. Offers three funding programs: Innovation, Business Growth and Competitiveness, and Community Economic Development.

Funding Details

Innovation stream:

  • Assistance is repayable, applicants are expected to contribute at least 10% of project costs.
  • Up to 33% of eligible capital costs and up to 50% of eligible non-capital costs.
  • Youth internships┬ácan get up to $27,500 or 50% of eligible costs

 

Eligible Expenditures

Innovation stream:

  • costs related to training on new technology
  • costs related to securing intellectual property, licensing and patent registration
  • marketing costs, participation at trade shows travel expenses and labour costs
  • machinery, equipment and technology.

Eligibility Requirements

  • Company has fewer than 500 employees located in an eligible region in Northern Ontario
  • SMEs that are unlikely to obtain financing because the risk is too high
  • Businesses including corporations, partnerships, co-operatives, proprietorships, trusts