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.
- 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 can get up to $27,500 or 50% of eligible costs
- 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.
- 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