INVEST North Program — Investment - Launch Stream

INVEST North Program — Investment - Launch Stream

The Launch Stream program offers grants to help start new businesses in Northern Ontario, funding up to 50% of eligible expenses to a maximum of $200,000.
At a glance
Overview
Eligibility
Selection criteria
How to apply

At a glance

Eligible Funding
  • Max. $200,000
  • 50% of project cost
Timeline
  • Open Date : April 28, 2024
Financing Type
Grant and Funding
Eligible Industries
  • All industries
Grant Providers
  • Northern Ontario Heritage Fund Corporation
Status
Open

Overview

The Investment - Launch Stream program from NOHFC supports new business startups in Northern Ontario by providing conditional grants for eligible projects like infrastructure construction, equipment purchase, and technology investments. The program covers up to 50% of eligible project costs, up to a maximum of $200,000. Applicants need to contribute at least 15% of the total eligible costs.

Eligibility criteria

The eligibility criteria for this grant include businesses starting up operations in Northern Ontario. Eligible projects encompass capital construction, leasehold improvements, new or used equipment, land servicing costs, ICT investments, marketing, and training costs.

  • Businesses starting-up operations in Northern Ontario.

Who is eligible

Companies starting up operations in Northern Ontario can apply for this grant. This includes new businesses that are in the initial stages of establishment and meet the eligibility criteria outlined by the Northern Ontario Heritage Fund Corporation (NOHFC).

Who is not eligible

Some types of companies are not eligible for the grant. Specifically, retail and consumer service businesses, ongoing operating costs, accommodation & food service businesses, businesses involved in wholesale activities, and more are not eligible.

  • Retail and consumer service businesses that primarily earn revenue by providing products and services directly to individuals
  • Ongoing operating costs including maintenance
  • Accommodation & food service businesses and related business activities
  • Businesses that are primarily involved in wholesale activities
  • Business plans / strategic plans / feasibility studies etc.
  • Assets acquired through operating leases
  • Research and development
  • Land purchase/lease
  • Rolling stock (e.g. cars, trucks & boats and motors)
  • Project management costs / consulting costs / administration costs
  • Mineral exploration, mine development and milling operations
  • Working capital
  • Cost of inventory
  • Cellular and internet service projects
  • Capital projects or leasehold improvements to residential or personal properties
  • Acquisitions and buy-outs of existing businesses
  • Electricity generation projects

Eligible expenses

Eligible expenses for this grant include capital construction, leasehold improvements, new or used equipment, land servicing costs, ICT investments, marketing for new products, and training costs with third parties.

  • Capital construction
  • Leasehold improvements
  • New or used equipment including capital leases
  • Land servicing costs
  • ICT investments
  • Marketing for new products and business initiatives (up to certain limits)
  • Training costs incurred with third parties (up to certain limits)

Eligible projects & activities

Eligible projects and activities for the NOHFC Investment - Launch Stream grant include capital construction, leasehold improvements, equipment purchases, land servicing costs, ICT investments, marketing for new products, and training costs with third parties.

  • Capital construction
  • Leasehold improvements
  • New or used equipment including capital leases
  • Land servicing costs
  • Information & communications technology (ICT) investments
  • Marketing for new products and business initiatives (limited to a maximum of 20% of all other eligible project costs, or $75,000, whichever is less)
  • Training costs incurred with third parties (limited to a maximum of 20% of all other eligible project costs)

Eligible geographic areas

Northern Ontario is the eligible geographic area for the NOHFC Investment - Launch Stream grant. Businesses starting-up operations in Northern Ontario can apply for funding.

  • Northern Ontario

Evaluation & selection criteria

Yes, there are evaluation and selection criteria for this grant. The evaluation criteria include factors such as job creation, level of investment from other sources, strength of the detailed business plan, impact on existing businesses, and net economic benefits for Northern Ontario.

  • Job creation
  • Level of investment from other sources to be secured by the applicant
  • Strength of the applicant’s detailed business plan
  • Does not unreasonably impact existing Northern Ontario businesses
  • Net economic benefits for Northern Ontario
  • Other business activities that may result in economic development advantage

How to apply

  • Step 1: Review Eligibility and Project Criteria
  • Understand the eligibility requirements for businesses starting operations in Northern Ontario.
  • Review the list of eligible projects, activities, and associated costs.
  • Step 2: Prepare Application and Supporting Documents
  • Develop a detailed business plan highlighting job creation, investment sources, and economic benefits.
  • Ensure the project does not unreasonably impact existing Northern Ontario businesses.
  • Step 3: Submit Application for Funding
  • Complete the application form with accurate information.
  • Provide all necessary documentation and supporting materials.
  • Step 4: Await Decision and Funding Allocation
  • Wait for evaluation by the NOHFC Board of Directors.
  • Successful projects may receive conditional contributions based on the funding limit.
Apply to this program