Innovation Growth Program MN Canada

Innovation Growth Program

MN, Canada
Funding for Innovative Projects in Manitoba
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grant_single_labels|admissibility
grant_single_labels|criteria
grant_single_labels|register
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grant_single|eligibleFinancing
  • grant_single|maxCount
  • grant_single|projectCostPercent
grant_single|deadlines
  • grant_single|openingDateNovember 09, 2023
  • grant_single|closingDateDecember 15, 2023
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
  • Manufacturing
  • Information and cultural industries
  • Professional, scientific and technical services
grant_single|grantors
  • Government of Manitoba
  • Department of Economic Development and Training (MN)
grant_single|status
grant_card_status|closed

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Your SME could get a 50-50 cost-shared grant up to $100,000 towards the development and commercialization of a new innovative product.

grant_single_labels|projects

This grant is intended for companies with a permanent establishment in Manitoba. The eligible geographical area is specifically within the province of Manitoba, Canada.
  • Companies must be based in Manitoba.
grant_single|admissibleProjectsExample

$17,500

Certifying and registering IP for a new AI-driven healthcare app

$35,000

Developing a commercial scale prototype of an electric snowplow

$22,500

Adapting a smart home security system for international markets

grant_single_labels|admissibility

The Innovation Growth Program requires applicants to meet specific criteria to be eligible for funding.
  • Applicants must be for-profit, taxable Canadian Controlled Private Corporations with a permanent establishment in Manitoba.
  • They must pay at least 50% of total salaries and wages to Manitoba resident employees.
  • The company should have an annual revenue of $15 million or less, or fewer than 100 full time equivalent employees, including its affiliates on a consolidated basis.
  • Applicants must demonstrate an owner investment of $25,000 in cash equity in the business prior to application.
  • Ineligible applicants include not-for-profit organizations, professional practices regulated by a governing body under an Act of the Legislature, business operations primarily earning passive income, and Crown corporations, municipalities, towns and cities, or organizations owned or controlled by one of those groups.

grant_eligibility_criteria|who_can_apply

There are eligible types of companies for the Innovation Growth Program grant in Manitoba, Canada. Eligible applicants include for-profit, taxable Canadian Controlled Private Corporations with a permanent establishment in Manitoba that pay at least 50% of total salaries and wages to Manitoba resident employees, with annual revenue of $15 million or less, or fewer than 100 full-time equivalent employees.
  • For-profit, taxable Canadian Controlled Private Corporations with a permanent establishment in Manitoba
  • Annual revenue of $15 million or less, or fewer than 100 full-time equivalent employees
  • Demonstrate owner investment of $25,000 in cash equity invested in the business prior to application

grant_eligibility_criteria|who_cannot_apply

This grant excludes certain companies and industries due to their status or main activity. The restrictions ensure the appropriate allocation of funds towards commercial ventures rather than entities that do not align with the program's objectives.
  • Not-for-profit organizations.
  • Professional practices regulated by a governing body under an Act of the Legislature.
  • Business operations primarily earning passive income.
  • Crown corporations, municipalities, towns, and cities, or organizations owned or controlled by these groups.
  • Companies that qualify for other forms of Government of Manitoba financial assistance.

grant_eligibility_criteria|eligible_expenses

The Innovation Growth Program offers funding to support the commercialization of innovative products or processes. It aims to help businesses scale up operations and enter new markets through a variety of eligible activities.
  • Building and developing commercial scale prototypes.
  • Conducting testing and trial runs in an operational environment.
  • Obtaining certification and registering intellectual property.
  • Procuring tooling required as part of the prototyping process.
  • Adapting commercially viable products for new market entry.
  • Pursuing market development or expansion activities.
  • Performing commercial scale-up tasks, such as testing, obtaining certifications, and packaging.
  • Translation of materials for new market penetration.
  • Hiring net new Manitoba employees to work directly on approved projects.

grant_eligibility_criteria|zone

The grant supports eligible expenses crucial to commercializing innovative products or processes.
  • Legal fees associated with registration of intellectual property.
  • Designing and building of commercial scale prototypes.
  • Tools and moulds.
  • Testing costs and certifications.
  • Third party advisory or technical services.
  • Business to business tradeshows or events intended to secure distributors.
  • Internal labour of net new Manitoba hires directly working on the project (capped at 50% of total funding received under IGP).

grant_single_labels|criteria

The evaluation and selection of projects for the Innovation Growth Program (IGP) grant are based on specific criteria to ensure the projects align with the program's strategic objectives.
  • Quality of The Project: Demonstrates a clear and comprehensive description, clear objectives, scientifically sound methodology, and includes innovative features and benefits.
  • Market for the Innovation: There is a defined market need and size, risk assessment and mitigation plan, industry assessment and competitor analysis, and potential for broad customer acquisition.
  • Management Capacity: Strong leadership, technical, managerial, financial, business, and legal expertise, with an appropriate intellectual property strategy.
  • Commercialization Plan and Business Model: Adequate financial and commercialization strategy, identification and addressing of challenges and risks, and a realistic timeline with achievable milestones.
  • Investments Secured: Reasonable financial request and matching funds for the project costs.
  • Benefits to Manitoba: Economic development benefits such as jobs created, increased payroll, sales and export targets, competitiveness, and capital investment.

grant_single_labels|register

Here are the steps to apply for the Innovation Growth Program (IGP):
  • Step 1: Determine Eligibility
    • Ensure your business is a for-profit, taxable Canadian Controlled Private Corporation with a permanent establishment in Manitoba.
    • Verify that your business pays at least 50% of total salaries and wages to Manitoba resident employees.
    • Ensure annual revenue does not exceed $15 million, or that you have fewer than 100 full-time equivalent employees.
    • Confirm an owner investment of $25,000 in cash equity in the business.
  • Step 2: Prepare Application
    • Download and complete the IGP Application Form in Word format.
    • Prepare a detailed project proposal including objectives, activities, timelines, and budgets.
    • Secure and provide proof of at least 50% non-government funding for the project.
    • Gather supporting documents such as the corporation's most recent T2 tax return, year-end financial statements, and a current balance sheet and income statement.
  • Step 3: Submit Application
    • Submit an electronic copy of your completed application form and all supporting documents via email to ecdevprograms@gov.mb.ca.
    • Ensure submission is completed before the application closing date of September 15, 2024.
    • Contact Manitoba Economic Development, Investment, Trade and Natural Resources if you need to submit through another secure channel.
  • Step 4: Application Evaluation and Feedback
    • Your application will undergo a preliminary eligibility and completeness screening.
    • If necessary, a representative may contact you for additional information.
    • If not selected, feedback will be provided to amend and resubmit in future intakes.

grant_single_labels|otherInfo

Here are additional relevant details for this grant:
  • Funding is non-repayable and requires a 50/50 cost-share basis between the grant and other sources.
  • Each applicant can have only one active project at any given time and the activities must be completed within one year of application intake closing date.
  • Reimbursement requires satisfactory proof of payment, and pre-incurred expenses are not eligible for retroactive funding.
  • Total government support, from all levels, must not exceed 50% of the total project costs.
  • Applicants must demonstrate a reasonable level of confirmed matching funds from non-government sources.
  • The grant will not cover certain costs including advertising, land, equipment, and others not directly linked to product development or commercialization.
  • If assistance is available from other Manitoba government financial programs, companies will be directed to those programs first.
  • Beneficiaries will be subject to annual performance reviews for six years post-funding.

grant_single_labels|contact

ecdevprograms@gov.mb.ca
204-945-2475

Apply to this program