FedDev - Funding for southern Ontario
ON, Canada
Funding for businesses in southern Ontario by FedDev Ontario.
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|closingDateJune 24, 2024
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
- Manufacturing
- Professional, scientific and technical services
- Health care and social assistance
grant_single|grantors
- Federal Economic Development Agency for Southern Ontario (FEDDEV)
grant_single|status
grant_card_status|open
grant_card_status|closingSoon
grant_single_labels|preview
The FedDev Ontario grant program supports incorporated businesses in Southern Ontario by providing no-interest, repayable contributions ranging from $125,000 to $10 million per project. Eligible activities include developing, commercializing, or producing innovative products, processes, and services, improving productivity and competitiveness, and scaling up or expanding to develop new business opportunities. The program prioritizes projects focused on clean economic growth, business development, technological innovation, and industrial transition.
grant_single_labels|projects
Yes, there are several activities eligible for this grant.
Here is a summary of the eligible activities:
- Developing, commercializing and/or producing new and innovative products, processes and services.
- Improving productivity, capacity and competitiveness through technology adoption and process improvements.
- Scaling-up or expanding business lines to access new markets or customer bases.
grant_single|admissibleProjectsExample
$2,500,000
Montreal
Expanding production capacity for eco-friendly packaging solutions
$1,250,000
Toronto
Developing a new AI software for predictive maintenance in manufacturing
$1,500,000
Toronto
Enhancing digital infrastructure for remote work capabilities
$1,250,000
Vancouver
Launch of a new line of organic skincare products
$1,000,000
Hamilton
Developing a mobile app for mental health support
$2,000,000
Waterloo
Research and development of a novel renewable energy storage system
grant_single_labels|admissibility
The grant is open to growing and established businesses, co-operatives and Indigenous (First Nations, Métis and Inuit Peoples) businesses located or expanding in southern Ontario. Eligible applicants must meet specific criteria to qualify for funding.
- For-profit entities.
- Incorporated in Canada or Ontario.
- Have a minimum of 5 full-time employees.
- At least 3 years of business operations.
grant_eligibility_criteria|who_can_apply
Eligible companies for this grant include growing and established businesses, co-operatives, and Indigenous (First Nations, Métis, and Inuit Peoples) businesses located or expanding in southern Ontario. These entities must be for-profit, incorporated in Canada or Ontario, have a minimum of 5 full-time employees, and have at least 3 years of business operations.
- Growing and established businesses
- Co-operatives
- Indigenous (First Nations, Métis, and Inuit Peoples) businesses
- Located or planning to expand in southern Ontario
- For-profit entities
- Incorporated in Canada or Ontario
- Minimum of 5 full-time employees
- At least 3 years of business operations
grant_eligibility_criteria|eligible_expenses
Eligible expenses for this grant include new costs essential to the project such as labour, expertise, and equipment costs.
- Labour costs
- Expertise costs
- Equipment costs
grant_eligibility_criteria|zone
Eligible geographic zones for this grant are identified as southern Ontario. Businesses must be located or expanding within this region to qualify.
- Southern Ontario
grant_single_labels|criteria
Yes, there are evaluation and selection criteria for this grant. Complete applications are reviewed and assessed based on various criteria, including alignment with intake priorities and expected results of the project.
- Alignment with intake priorities
- Expected results of the project
- Degree to which the project supports new or expanded initiatives for your company (i.e., incrementality of the project)
- Quality of the project plan and budget, including contributions of project partners and ability to repay
- Managerial, technical, operational, and financial capacity
- Degree of risk
- Compliance with applicable legislation and regulatory requirements
- Quality of IP strategies for IP-intensive projects
- Breadth, representation, and diversity of projects
grant_single_labels|register
- Step 1: Check Eligibility
- Ensure your business is an incorporated for-profit entity in Canada or Ontario.
- Confirm you have a minimum of 5 full-time employees and at least 3 years of business operations.
- Step 2: Identify Priority Areas
- Determine which spring 2024 intake priorities your project aligns with, such as Clean Economic Growth, Growth Companies, Technology, or Industrial Transition.
- Step 3: Contact FedDev Ontario
- Reach out to FedDev Ontario for any questions or clarifications regarding your application or project.
- Step 4: Prepare Application
- Develop a comprehensive project plan addressing all required criteria, including how your project will create broad and long-term economic benefits for southern Ontario.
- Prepare detailed budget estimates, including sources of matching funding.
- Step 5: Apply Online
- Submit your application during the intake period from April 29, 2024, to June 24, 2024, 4:59 pm Eastern Time.
grant_single_labels|otherInfo
Projects are assessed based on multiple criteria, and applicants may only submit one application per intake period. Additionally, funding may have tax implications for your business.
- Projects are assessed based on alignment with intake priorities, expected results, and other criteria.
- Applicants can only submit one application per intake period.
- Financial assistance may have tax implications for your business; consult a qualified tax professional.
Apply to this program
FedDev Ontario Spring 2024 Intake Grant
FedDev Ontario is offering no-interest, repayable contributions ranging from $125,000 to $10 million for businesses in southern Ontario that develop innovative products, improve productivity, or expand market reach. Applications are open from April 29, 2024, to June 24, 2024, for projects focusing on clean economic growth, technological innovation, and industrial transition.
Detailed Explanation of the FedDev Ontario Spring 2024 Intake Grant
The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) is an essential part of the Canadian economic landscape. It plays a crucial role in fostering innovation, commercial growth, and regional economic development. One of the primary avenues through which FedDev Ontario supports businesses is through its grant programs. The Spring 2024 Intake Grant is a significant opportunity for businesses in Southern Ontario to secure financial assistance for innovative projects. Here’s an in-depth look at this grant, its criteria, and the benefits it offers.
Overview of the Grant
The Spring 2024 Intake Grant from FedDev Ontario is designed to support incorporated businesses in Southern Ontario that are either developing new products, improving their operational productivity, or seeking to scale up and expand their market presence. These grants are no-interest, repayable contributions, with funding amounts ranging from $125,000 up to $10 million per project. This financial assistance aims to help businesses accelerate growth, enhance competitiveness, and prepare for the future through strategic, innovative initiatives.
Eligibility Criteria
To be eligible for this grant, businesses must fulfill the following criteria: - **Location:** They must be located or planning to expand within Southern Ontario. - **Nature of Business:** They must be for-profit entities. - **Incorporation:** They must be incorporated in Canada or Ontario. - **Employee Count:** They must have a minimum of 5 full-time employees. - **Operational History:** They must have at least 3 years of business operations.
Types of Supported Activities
FedDev Ontario supports a range of activities through the grant, broadly categorized under development, productivity improvement, and market expansion: 1. **Development of New Products or Processes:** - Late-stage development of a new product ready for sale. - Innovations that reduce environmental impacts through new technologies. - Showcasing and demonstrating new technologies in operational settings. 2. **Improving Productivity, Capacity, and Competitiveness:** - Adopting new technologies or processes, such as digitization. - Enhancing production efficiency and capacity through equipment upgrades. - Increasing business management capacity. - Implementing clean technologies. - Improving efficiencies through automation and skills development. 3. **Scaling-up and Market Expansion:** - Launching new products or services. - Integrating into domestic and global supply chains. - Attracting venture capital or angel investment to support growth. - Reshoring or onshoring production and development capabilities to Southern Ontario.
Spring 2024 Intake Priorities
The grant prioritizes projects that align with the following themes: - **Clean Economic Growth:** Projects that promote the greening of the economy, contribute to emissions reduction, and create sustainable jobs. - **Growth Companies:** Projects that fast-track business development and growth. - **Technology:** Initiatives in cutting-edge sectors like artificial intelligence, cybersecurity, medical technologies, digital health, and agri-tech. - **Industrial Transition:** Projects that help traditional sectors adopt new technologies to improve competitiveness, such as automation in manufacturing. Special priority may be given to projects supporting the transition to zero-emission vehicles and housing manufacturing innovation. Additionally, projects that promote inclusive growth and regional development, particularly those creating opportunities for underrepresented groups, are highly encouraged.
Funding Parameters and Requirements
- **Funding Amount:** Applicants can request between $125,000 and $10 million per project. - **Cost Sharing:** Normally, FedDev Ontario funds up to 50% of eligible project costs. The remaining costs must be covered by the applicant or other funding sources. - **Eligible Costs:** Include new essential project costs such as labor, expertise, and equipment. - **Ineligible Costs:** Exclude land and buildings, basic research, refinancing of debts, etc. - **Project Timeframe:** Activities cannot commence before the application intake closes on June 24, 2024. Projects often span 1-3 years. - **Repayment Terms:** Grants are interest-free and unconditionally repayable, with repayments typically starting one year after project completion.
Project Assessment Criteria
Applications are reviewed based on several criteria: - **Alignment with Priorities:** How well the project aligns with the intake priorities. - **Expected Results:** The anticipated broad and long-term economic benefits for Southern Ontario, including job creation, revenue growth, and increased exports. - **Project Plan Quality:** The robustness of the project plan and budget, contributions from partners, and repayment ability. - **Incrementality:** The degree to which the project supports new or expanded initiatives for the company. - **Capacity and Risk:** Assessment of managerial, technical, operational, and financial capacities, along with associated risks. Applicants are also assessed for compliance with legislation and regulatory requirements, and intellectual property-intensive projects may undergo evaluation for IP strategy quality.
Application Process
The process for applying to the FedDev Ontario Spring 2024 Intake Grant involves several steps: 1. **Determining Eligibility:** Businesses must ensure they meet the eligibility requirements. 2. **Preparation:** Gather necessary information and documentation, including detailed project plans and budget estimates. 3. **Submitting Applications:** Applications are accepted from April 29, 2024, to June 24, 2024, 4:59 pm Eastern Time. 4. **Review and Evaluation:** FedDev Ontario evaluates complete applications against assessment criteria. 5. **Funding Decisions:** Preference is given to projects that leverage other funding sources and demonstrate potential for significant economic impact. 6. **Contribution Agreement:** Approved applicants must sign a legally binding agreement confirming all sources of matching funding within 30 days.
Next Steps for Interested Applicants
If you believe your project aligns with the priorities and criteria outlined by FedDev Ontario, the next steps are: 1. **Contact FedDev Ontario:** Reach out with questions or for guidance on the application process. 2. **Review Program Information:** Ensure you have all required information and understand the guidelines. 3. **Prepare Your Application:** Assemble the necessary documentation and develop a comprehensive project plan. 4. **Submit Before Deadline:** Ensure your application is submitted well before the June 24, 2024, deadline.
Conclusion
The FedDev Ontario Spring 2024 Intake Grant offers a significant opportunity for businesses in Southern Ontario to secure financial support for innovative, productivity-enhancing, and growth-oriented projects. By focusing on key priorities such as clean economic growth, technological advancement, and industrial transition, this grant aims to create sustainable economic benefits, job growth, and enhanced competitiveness for the region. If your business meets the eligibility criteria and you have a project that aligns with these goals, applying for this grant could be a crucial step towards realizing your business’s potential and contributing to the economic development of Southern Ontario.
