i.d.e.a. Fund
ON, Canada
Funding and support for high potential businesses focusing on a sustainable and green recovery
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|openingDateMarch 28, 2023
- grant_single|closingDateApril 18, 2023
grant_single|financingType
Grant and Funding
Expert Advice
grant_single|eligibleIndustries
- Manufacturing
- Professional, scientific and technical services
- Administrative and support, waste management and remediation services
grant_single|grantors
- Innovation Factory
- TechAlliance
grant_single|status
grant_card_status|closed
grant_single_labels|preview
You can get a non-repayable grant and business advisory support to develop and/or redesign new green products, services, processes, and technologies to reduce their impact on the environment.
grant_single_labels|projects
Eligible projects for this grant include those focused on developing or redesigning products, services, processes, or technologies that contribute to a sustainable and green recovery. These initiatives should align with reducing environmental impact and future-proofing businesses.
- Development of new green products
- Redesign of existing products for environmental sustainability
- Creation of eco-friendly services
- Improvement of processes to lower environmental impact
- Implementation of green technologies
- Commercialization of environmentally sustainable intellectual property
- Market diversification for eco-friendly products
- Quantification of environmental benefits of products
grant_single|admissibleProjectsExample
$200,000
Ottawa
Implementing renewable energy systems in local community centers
$140,000
Vancouver
Redesigning office furniture using recycled materials
$120,000
Calgary
Creating a mobile app to educate users on sustainable living practices
$80,000
Halifax
Launching a recycling awareness campaign in schools
$150,000
Toronto
Developing biodegradable packaging to replace single-use plastics in retail
$170,000
Montreal
Developing eco-friendly cleaning products for household use
grant_single_labels|admissibility
To be eligible for this grant, companies must meet certain criteria related to their size, incorporation status, location, and focus on sustainable development. Here are the eligibility criteria:
- Fewer than 500 employees
- Federally incorporated or incorporated in the Province of Ontario
- Located in southern Ontario
- Will develop or redesign new products, services, processes, or technologies that focus on a sustainable and green recovery
grant_eligibility_criteria|who_can_apply
Eligible companies for the i.d.e.a. Fund grant include those that meet specific criteria related to employee size, incorporation, location, and focus on sustainable and green recovery initiatives.
- Fewer than 500 employees
- Federally incorporated or incorporated in the Province of Ontario
- Located in southern Ontario
- Develop or redesign new products, services, processes, or technologies that focus on a sustainable and green recovery
grant_eligibility_criteria|who_cannot_apply
According to the grant context, companies that are not federally incorporated or incorporated in the Province of Ontario, have more than 500 employees, or are not located in southern Ontario are not eligible for this grant.
- Companies that are not federally incorporated or incorporated in the Province of Ontario
- Companies with more than 500 employees
- Companies not located in southern Ontario
grant_eligibility_criteria|eligible_expenses
Eligible expenses for this grant include various costs associated with developing or redesigning products, services, processes, or technologies that focus on sustainable and green recovery.
- Research and development costs
- Prototyping and testing
- Marketing and commercialization activities
- Intellectual property protection
- Talent recruitment and training
grant_eligibility_criteria|zone
Eligible geographic zones for this grant include regions within southern Ontario. Applicants must be federally incorporated or incorporated in the Province of Ontario.
- Southern Ontario
- Federally incorporated in Canada
- Incorporated in the Province of Ontario
grant_single_labels|criteria
Yes, the i.d.e.a. Fund has specific evaluation and selection criteria to measure the eligibility and potential of the applicant businesses. Below are the criteria used to evaluate and select the grant recipients:
- Impact on the environment - the ability of the product, service, process, or technology to contribute to a sustainable and green recovery
- Business potential - assessment of growth potential, scalability, and market opportunity
- Innovation - the degree of innovation in the new or redesigned product, service, process, or technology
- Feasibility - the practicality and viability of the project plan and execution
- Team - the skills, experience, and competency of the management team
- Inclusiveness - priority given to businesses led by women and members of racialized and under-represented groups
- Job creation - potential to create jobs and contribute to economic recovery
- Location - businesses must be located in southern Ontario
- Size - businesses must have fewer than 500 employees
- Incorporation - businesses must be federally incorporated or incorporated in the Province of Ontario
grant_single_labels|register
- Step 1: Confirm Eligibility
- Ensure your business has fewer than 500 employees
- Confirm your business is federally incorporated or incorporated in the Province of Ontario
- Verify your location in southern Ontario
- Validate that your business will develop or redesign products, services, processes, or technologies focusing on a sustainable and green recovery
- Step 2: Register for an Information Session
- Choose one of the available dates
- Register for the session to learn more about the program and to participate in the live Q&A with the i.d.e.a. Fund team
- Step 3: Prepare Your Application
- Gather all required business information
- Review the program guide and FAQ to ensure all necessary details are included
- Step 4: Submit Your Application
- Fill out the online application form
- Ensure all information is complete and accurate
- Submit the application before the deadline
- Step 5: Await Notification
- Successful applicants will be notified in May
- The full list of Cohort 2 recipients will be announced publicly in Summer 2023
grant_single_labels|otherInfo
This grant is designed to support businesses in southern Ontario that are focused on sustainable and green innovations. Successful applicants receive funding and advisory support to help drive growth and transition to a green economy.
- Non-repayable seed funding up to $30,000 with matching funds
- Up to 40 hours of fully funded, targeted support from business leaders
- Cohort 1 participants are not eligible for Cohort 2
- Target of 50% women-led and 30% led by racialized and under-represented groups
- Eligible businesses must have fewer than 500 employees
- Eligible businesses must be federally incorporated or incorporated in the Province of Ontario
- Businesses must be located in southern Ontario
Apply to this program
i.d.e.a. Fund Grant: Supporting Green Innovation in Southern Ontario
Exploring the i.d.e.a. Fund: Accelerating Green Economy and Inclusive Growth
The i.d.e.a. Fund was created with a clear purpose: to bolster local economies in southern Ontario by providing high potential businesses with non-repayable seed funding and expert advisory support. Anchored on the principles of inclusivity, diversity, environment, and acceleration, this grant aims to foster sustainable development and drive the transition towards a green economy. The initiative is driven by collaboration among six Ontario Regional Innovation Centres (RICs) and targets to support 240 businesses over its lifespan, equally divided into two cohorts of 120 companies each.
Scope and Objectives of the i.d.e.a. Fund
The i.d.e.a. Fund aims to support the development of innovative green products, services, processes, and technologies, as well as the redesign of existing solutions to minimize environmental impacts. Part of the mission embraces an inclusive economic recovery by ensuring that at least 50% of the supported businesses are led by women and a minimum of 30% are headed by members of racialized and under-represented groups. This dual focus on sustainability and inclusivity sets the i.d.e.a. Fund apart from other grants, positioning it as a pivotal driver for change in southern Ontario.
Eligibility Criteria
To participate in the i.d.e.a. Fund, businesses must meet several key criteria: - They must have fewer than 500 employees. - They must be federally incorporated or incorporated in the Province of Ontario. - They must be located within southern Ontario. - They should focus on developing or redesigning products, services, processes, or technologies that contribute to a sustainable and green recovery. These conditions ensure that the fund supports a diverse range of small to medium-sized enterprises (SMEs) that are well-positioned to make a significant impact on the region's economic and environmental landscape.
Financial Support and Advisory Services
Successful applicants to the i.d.e.a. Fund can receive non-repayable seed funding of up to $30,000, contingent on matching contributions from the business. This financial support is crucial for startups and growing companies that need capital to bring their green innovations to market. Additionally, businesses benefit from up to 40 hours of fully funded, targeted support from business leaders and experts who provide invaluable guidance in various areas including growth strategies, talent attraction, raising follow-on investment, market diversification, product development, and commercialization of intellectual property.
Application Process and Timelines
The application process for the i.d.e.a. Fund is structured into cohorts. For Cohort 2, applications closed on April 17, 2023, with successful applicants being notified in May 2023. The public announcement of the full list of Cohort 2 recipients is expected in Summer 2023. It’s important to note that businesses already participating in Cohort 1 are not eligible to apply for Cohort 2, ensuring a broader distribution of opportunities.
Information Sessions and Additional Resources
To assist potential applicants, the i.d.e.a. Fund organizers have conducted several virtual information sessions. These sessions provided an overview of the program, eligibility criteria, and a platform for live Q&A with the i.d.e.a. Fund team. Additionally, resources such as the Program Guide and FAQ are available to help businesses understand the specifics of the grant and prepare strong applications.
Strategic Impact and Future Prospects
The i.d.e.a. Fund is not just about providing immediate financial support; it is about creating long-term strategic impacts. By encouraging the development of green technologies and sustainable business practices, the fund aims to future-proof businesses and foster a resilient economic landscape in southern Ontario. The emphasis on inclusivity and diversity ensures that the benefits of economic growth are distributed equitably across different communities. Furthermore, the collaborative approach involving six Regional Innovation Centres amplifies the reach and effectiveness of the program. These centers bring together resources, expertise, and networks that enhance the support ecosystem available to businesses. As a result, the i.d.e.a. Fund is more than a financial grant; it is a comprehensive support system designed to drive systemic change.
Conclusion
The i.d.e.a. Fund represents a significant opportunity for businesses in southern Ontario to contribute to a green and inclusive economic recovery. With substantial financial support and access to expert advisory services, the fund is poised to accelerate the growth of innovative businesses and facilitate the development of sustainable solutions. As the region transitions towards a green economy, the i.d.e.a. Fund stands out as a critical enabler of positive change, supporting both environmental sustainability and social equity. Businesses and entrepreneurs keen on making a meaningful impact should seize this opportunity to join the movement towards a greener and more inclusive future.
