INVEST North Program — Innovation Stream
At a glance
- Max. $2,000,000
- 50% of project cost
- Open Date : April 28, 2024
- All industries
- Northern Ontario Heritage Fund Corporation
Overview
Eligibility criteria
The Innovation Stream supports the research, development, and commercialization of new and innovative technologies in Northern Ontario. Eligible applicants include private-sector businesses working alone or in partnership with public sector academic or research institutions.
- Private-sector businesses or public-private partnerships with academic/research institutions are eligible
Who is eligible
Private-sector businesses alone, or in partnership with a public sector academic or research institution, are eligible to apply for the Innovation Stream grant.
Eligible expenses
Eligible expenses for this Innovation Stream grant include direct internal technical labor costs, prototyping costs, product testing, intellectual property protection costs, building or renovation costs related to commercialization, prototype demonstration costs, material costs, product certification costs, research and development services, and marketing costs (up to 20% of total eligible project costs).
- Direct internal technical labour costs
- Prototyping costs
- Product testing
- Intellectual property protection costs
- Building or renovation costs for commercialization
- Prototype demonstration costs
- Material costs
- Product certification costs
- Research and development services
- Marketing costs
Eligible projects & activities
Some projects and activities are eligible for this grant, including applied research & development projects, and demonstration & commercialization of new and innovative technologies. Eligible activities include direct internal technical labour costs, prototyping costs, product testing, intellectual property protection costs, and more.
- Applied research & development projects
- Demonstration & commercialization of new technologies
- Direct internal technical labour costs
- Prototyping costs
- Product testing
- Intellectual property protection costs
- Research and development services provided by public sector partners
- Building or renovation costs related to technology commercialization
- Prototype demonstration costs
- Material costs
- Product certification costs
- Marketing costs (limited to 20% of total eligible project costs)
Evaluation & selection criteria
Yes, there are evaluation and selection criteria for this grant:
- Innovation meets the NOHFC’s definition of Innovation
- Strength of the project’s detailed business plan
- Net economic benefits for Northern Ontario
- Demonstrated market need and demand
- Management capacity
- Business’ financial position
- Supply chain impacts
- Level of Risk
How to apply
- Step 1: Determine if you are eligible for the Innovation Stream grant
- Step 2: Prepare a detailed business plan that highlights the innovation, market need, and financial projections
- Step 3: Choose whether to apply for Applied Research & Development funding, Demonstration & Commercialization funding, or a combination of both
- Step 4: Ensure you have ownership or rights to exploit the intellectual property associated with the technology
- Step 5: Complete the application form and submit it along with all required documentation
Innovation Stream Grant Summary
The Innovation Stream grant supports private-sector businesses in Northern Ontario in the research, development, and commercialization of new and innovative technologies. Eligible projects include applied research & development and demonstration & commercialization initiatives.
Innovation Stream Grant Details
The Innovation Stream Grant offers funding for projects aimed at developing new technologies in Northern Ontario. Eligible applicants, such as private-sector businesses or partnerships with academic institutions, can receive funding for applied research & development or demonstration & commercialization activities. The grant emphasizes innovation that satisfies market needs, with funding up to 50% of eligible costs to a maximum of $2 million for combined projects. Evaluation criteria include innovation alignment, economic benefits, market demand, and management capacity. Ineligible activities involve internal efficiency projects or costs like land, working capital, and indirect operating expenses.
For successful projects, NOHFC may provide conditional contributions based on project type, with limitations on government funding stacking. Applicants must meet specific requirements, including owning or having rights to exploit intellectual property. The grant also highlights the importance of direct internal technical labor and prohibits funding for specific costs like in-kind contributions or office equipment. The program aims to foster technological advancements in Northern Ontario, stimulating economic growth and innovation.
