A five-year, $100 million federal funding initiative that offers repayable contributions to Western Canadian businesses with less than 500 employees, to bring innovative products, processes and services to market.
Provides interest-free repayable contributions (covers up to 50% of capital equipment and other direct expenditures) for small- and medium-sized enterprises to (1) introduce existing products to new export markets, or (2) to introduce new products to existing markets
Incremental expenditures that are essential to the implementation of the project that may be eligible for reimbursement include, but may not be limited to:
- Quantifiable design, engineering and other professional services;
- Costs of prototype development materials consumed;
- Costs of transportation of prototype to location of demonstration site;
- Costs of third party certification, testing, quality assurance, etc.;
- Costs of specialized insurance while item is onsite for demonstration;
- Related travel costs;
- Material and supplies costs consumed in the product development and production stages;
- Capital costs for machinery and equipment;
- Labour costs; and
- Procurement of project-related innovation services (independent of the applicant), including, for example, patenting costs.
To be eligible the business must:
- Businesses incorporated to conduct business in Canada;
- Less than 500 full-time equivalent (FTE) employees;
- Have been in operation for at least one year;
- Have operating facilities located in Western Canada (defined as British Columbia, Alberta, Saskatchewan or Manitoba);
- Have a viable plan to commercialize an innovative, technology-driven, new or improved product, service or process within three years of project commencement;
- Have sufficient intellectual property rights to carry out the proposed project and to commercially exploit the results of the project; and
- Have confirmed, at the time of application, funding from all other sources, including government and non-government (non-government funding must represent at least 50 percent of the proposed project costs).