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
- TechAlliance
- Innovation Factory
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
This grant is available to companies located within a specific geographical area in Ontario. The eligible locations are strategically selected to foster regional economic growth and support green initiatives.
- Businesses located in southern Ontario.
grant_single|admissibleProjectsExample
$80,000
Launching a recycling awareness campaign in schools
$200,000
Implementing renewable energy systems in local community centers
$140,000
Redesigning office furniture using recycled materials
$120,000
Creating a mobile app to educate users on sustainable living practices
$150,000
Developing biodegradable packaging to replace single-use plastics in retail
$170,000
Developing eco-friendly cleaning products for household use
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the applicant company's profile and geographical location.
- The company must have fewer than 500 employees.
- The company must be federally incorporated or incorporated in the Province of Ontario.
- The company must be located in southern Ontario.
- The company must be focused on developing or redesigning products, services, processes, or technologies that contribute to 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
Based on the provided information, there are specific companies that are not eligible for this grant. These restrictions are put in place to ensure that the grant supports new applicants each cohort and aligns with the goals of sustainable growth and inclusion.
- Companies that were participants in Cohort 1 are not eligible to apply for Cohort 2.
grant_eligibility_criteria|eligible_expenses
This grant promotes the development and redesign of initiatives to enhance sustainability and reduce environmental impact in southern Ontario. Eligible projects aim at fostering green innovation and include a variety of eco-friendly products and technologies.
- Development of new green products and services.
- Redesigning existing products to reduce environmental impact.
- Innovative processes aimed at sustainability.
- Technological advancements for a green economy.
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
Here are additional relevant details for this grant:
- The program aims to support an inclusive recovery, targeting 50% of the companies supported to be led by women and at least 30% by members of other racialized and under-represented groups.
- Cohort 1 participants are not eligible to apply for Cohort 2.
- Successful applicants for Cohort 2 will be notified in May, and the list of recipients will be announced publicly in Summer 2023.
- The program includes up to 40 hours of fully funded, targeted support from business leaders.
- The i.d.e.a. Fund is delivered by six Ontario Regional Innovation Centres (RICs) to accelerate business growth as part of the transition to a green economy.
- The program includes non-repayable seed funding of up to $30,000 with matching funds required.
Apply to this program
Elevate Your Green Innovations with the i.d.e.a. Fund
The i.d.e.a. Fund provides essential funding to empower companies focused on environmental sustainability and inclusiveness in southern Ontario. This initiative supports the development and improvement of green products, technologies, and practices essential for fostering an inclusive, diverse, and accelerated transition to a sustainable economy.
Detailed Insights on the i.d.e.a. Fund's Impact and Opportunities
The i.d.e.a. Fund is a forward-thinking initiative aimed at driving the green economy transition in southern Ontario through strategic investment in innovation and diversity. With the collaboration of six Regional Innovation Centres, this fund is set to propel up to 240 businesses towards sustainable growth by providing both financial aid and professional advice tailored to the unique needs of each venture. This dual support structure is crucial for businesses aiming to develop or revamp their products, services, or processes to contribute to environmental preservation while ensuring profitability and market competitiveness.
Designed to optimize the socio-economic landscape, the fund places a substantial emphasis on inclusivity and diversity, with half of the support targeting women-led enterprises and at least 30% directed towards race and minority-led entities. This strategic focus not only catalyzes economic activity across varied communities but also reflects a commitment to a more equitable and representative economic structure. Such an inclusive approach ensures that innovations crossing the funding stage are not only environmentally sound but socially impactful as well.
Eligible businesses, capped at under 500 employees and incorporated either federally or within the province, gain access to up to $30,000 in non-repayable seed funding, matched by their contributions. Beyond the financial grant, participants benefit from up to 40 hours of expert-led consultation, facilitating critical growth paths like product development, market diversification, and commercialization of intellectual property. These advisory interventions are vital in overcoming common growth barriers and propelling businesses towards scalable, sustainable operations.
Moreover, the strategic focus of the fund on sustainable development is aligned with broader environmental goals, promoting projects and processes that reduce ecological footprints. This alignment is pivotal in shaping the future of industries that are increasingly judged on their environmental impact and ethical standards, thus preparing funded businesses not just for current market demands, but for enduring industry leadership.
The i.d.e.a. Fund also strategically mitigates risks inherent in innovation by providing an opportunity for guided experimentation under the watchful eye of seasoned industry experts. This safety net of knowledge sharing and best practices guides recipients to pivot successfully, adapting their strategies to maximize resource efficiency and impact.
Ultimately, the i.d.e.a. Fund is more than just financial assistance; it is a comprehensive program designed to fuel transformation within businesses that are crucial to future economic developments. By investing in change-makers, this program ensures that the local economy not only recovers from the current economic strains but also prepares robustly for the future challenges, thereby securing long-term prosperity.
