Innovation Growth Program
Winnipeg, MN, Canada
Funding for Innovative Projects in Manitoba
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|closingDateDecember 15, 2024
- grant_single|grantStatusClosed
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
grant_single_labels|preview
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|terms_and_conditions
The Innovation Growth Program provides structured financing modalities designed to support SMEs in bringing innovative products to market efficiently. These modalities ensure financial backing while imposing clear conditions to maximize the impact of the funding.
- Non-repayable grant of up to $100,000 per project, with costs shared on a 50/50 basis.
- Reimbursement of expenses is contingent upon satisfactory proof of payment and adherence to the funding agreement terms.
- Total government contribution from all levels cannot exceed 50% of total project costs.
- Financial assistance is capped per new project per corporation and requires confirmation of matching non-government funding sources.
grant_single_labels|projects
The Innovation Growth Program (IGP) in Manitoba focuses on supporting Small and Medium-Sized Enterprises (SMEs) in commercializing new innovative products and processes. The eligible activities are tailored towards overcoming commercialization challenges and bringing new products to the market to foster economic growth.
- Building commercial scale prototypes.
- Testing and conducting trial runs in an operational environment.
- Obtaining certification and registering intellectual property.
- Developing tooling required for prototyping processes.
- Adapting commercially viable products for new markets.
- Conducting market development or expansion activities.
- Carrying out commercial scale-up activities, including testing, obtaining certifications, packaging, and translation.
- Employing net new Manitoba hires directly working on an approved project.
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
Eligibility for this grant is determined by meeting specific criteria related to the applicant's business structure and financial specifics.
- Applicants must be for-profit, taxable Canadian Controlled Private Corporations with a permanent establishment in Manitoba.
- At least 50% of total salaries and wages must be paid to Manitoba resident employees.
- The applicant must have an annual revenue of $15 million or less, or fewer than 100 full-time equivalent employees, including its affiliates on a consolidated basis.
- The applicant must demonstrate owner investment of $25,000 in cash equity invested in the business prior to application.
grant_eligibility_criteria|who_can_apply
The Innovation Growth Program (IGP) is designed to support Small and Medium-Sized Enterprises (SMEs) in Manitoba in the commercialization of innovative products and processes. Eligible applicants include specific types of businesses and must meet certain ownership and financial criteria.
- For-profit, taxable Canadian Controlled Private Corporations with a permanent establishment in Manitoba.
- Corporations that pay at least 50% of total salaries and wages to Manitoba resident employees.
- Companies with annual revenue of $15 million or less, or fewer than 100 full-time equivalent employees, including affiliates, on a consolidated basis.
- Applicants must demonstrate a minimum of $25,000 in cash equity invested in the business prior to application.
- Businesses should not primarily earn passive income and must not be Crown corporations, municipalities, towns, cities, or organizations owned or controlled by such entities.
grant_eligibility_criteria|who_cannot_apply
This grant is not available to certain types of organizations and business operations based on their nature or the services they provide. The restrictions ensure that the funding is allocated to businesses that align with the program's goals of innovation and economic growth.
- 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 one of those groups.
- Companies that qualify for other forms of Government of Manitoba financial assistance are directed to those programs first.
grant_eligibility_criteria|eligible_expenses
Eligible expenses for this grant are those incurred in direct relation to the commercialization activities of the project.
- Legal fees associated with registration of intellectual property.
- Designing and building of commercial-scale prototypes.
- Tools and moulds required for prototyping.
- Testing costs and certifications.
- Third party advisory or technical services.
- Participation in business-to-business tradeshows or events intended to secure distributors.
- Salaries and wages for net new Manitoba hires directly working on the project, capped at 50% of total funding received under IGP.
grant_eligibility_criteria|zone
This grant is targeted at companies having a permanent establishment specifically within Manitoba. Only Manitoba-based businesses are eligible for this program.
- Permanent establishment in Manitoba.
grant_single_labels|criteria
The evaluation and selection of projects for the Innovation Growth Program are based on specific criteria to ensure alignment with the program's objectives.
- Quality of The Project: Demonstrates a clear and comprehensive description of the proposed innovation, objectives, work plan, technical feasibility, and innovation.
- Market for the Innovation: Defined market need with assessment of risks and a plan to mitigate them, including competitive advantage and market potential.
- Management Capacity: Strong leadership with the necessary expertise to guide the project and an appropriate Intellectual Property strategy.
- Commercialization Plan and Business Model: Adequate financial strategy and resources to move the innovation to market, with a clear roadmap to address commercialization challenges.
- Investments Secured: Reasonable need for financial request given the project costs and a reasonable level of matching funds.
- Benefits to Manitoba: Expected economic development benefits, including job creation, payroll growth, sales and export targets, and industry competitiveness.
grant_single_labels|register
- Step 1: Determine Eligibility
- Ensure your business meets the eligibility criteria outlined by the Innovation Growth Program.
- Verify that your project aligns with the program's objectives and eligible activities.
- Step 2: Prepare Documentation
- Complete the IGP Application Form in Word format.
- Gather your corporation's most recent T2 tax return and year-end financial statement, or a completed Start-up Letter.
- Prepare a current balance sheet and income statement (no older than three months).
- Secure proof of confirmed funding from all other sources, ensuring non-government funding represents at least 50% of the proposed project costs.
- Step 3: Submit Application
- Email your completed IGP Application Form and supporting documentation to ecdevprograms@gov.mb.ca before the application closing date.
- Contact the department if you require secure document submission through a channel other than email.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The IGP provides a non-repayable grant, meaning the funds do not need to be paid back.
- A competitive process evaluates applications, and only the strongest that meet the program objectives are considered for funding.
- Reimbursement is contingent upon proof of payment for expenses related to the project.
- The government’s contribution will not surpass 50% of total project costs, including support from all government levels.
- Project activities must be completed within one year from the application intake closing date.
- The grant prohibits reimbursement of expenses incurred before the application intake closing date.
- Applicants must demonstrate matching funds from non-government sources equal to at least 50% of eligible project costs.
- Funding disbursement is determined by satisfactory documentation and compliance with the terms of the funding agreement.
- Annual follow-up performance data collection will occur for six years post-funding, including financial statement reviews and employment data collection.
grant_single_labels|contact
ecdevprograms@gov.mb.ca
204-945-7343
Apply to this program
Manitoba's Innovation Growth Program: A Catalyst for Business Advancement
The Innovation Growth Program (IGP) is a vital funding initiative aimed at supporting the commercialization of innovative products and processes by small and medium-sized enterprises in Manitoba. With a grant potential of up to $100,000, IGP is committed to fostering economic growth, creating jobs, and enhancing the competitiveness of local businesses.
Insights into the Innovation Growth Program: Driving Manitoba's Economic Success
The Innovation Growth Program (IGP) serves as a strategic initiative by the Manitoba government designed to stimulate innovation within the province's business ecosystem. By offering substantial financial support to small and medium-sized enterprises (SMEs), the IGP aims to reduce the risks inherent in bringing innovative products and processes to market. This non-repayable grant, capped at $100,000 per project and structured as a 50/50 cost-share, represents a significant opportunity for Manitoba-based businesses looking to enhance their market position through innovation.
The program's objectives are multifaceted, focusing on leveraging private sector investments to create robust economic development outcomes. Key goals include not only the commercialization of new innovations but also job creation and export growth, which are vital for sustained economic health within the province. By targeting for-profit, taxable Canadian Controlled Private Corporations with a strong presence in Manitoba, the IGP ensures that the benefits of funding are concentrated locally, thereby maximizing regional economic impact.
Eligibility for the IGP is carefully defined to ensure a focused application of funds. Applicants must be Manitoba-based SMEs with an annual revenue of $15 million or fewer than 100 employees, emphasizing the program's dedication to aiding businesses at various stages of their development. Additionally, the program calls for demonstrated owner investment, ensuring that supported projects have a solid foundational backing prior to receiving grant assistance.
The types of activities supported under IGP are directly aligned with commercialization efforts, allowing SMEs to fund prototype development, certification, intellectual property registration, and market expansion initiatives. This focus on practical, commercially viable activities ensures that funded projects have a high likelihood of generating tangible economic benefits. Importantly, innovation within IGP is defined as not merely incremental improvements but significant modifications that provide a competitive advantage in the marketplace.
Funding through IGP is structured to promote accountability and project feasibility. A strong framework for fund disbursement requires that at least 50% of project costs are supported by non-government sources, ensuring that public funding is effectively leveraged to enhance private investment. Projects selected through a competitive evaluation process must present not only a sound business model and commercialization plan but also a potential for widespread economic benefits, demonstrated through metrics such as job creation and increased exports.
By fostering innovation and supporting businesses in overcoming commercialization barriers, the Innovation Growth Program plays a crucial role in Manitoba's economic development strategy. Its capacity to attract private investment, create jobs, and boost exports underscores its value as a cornerstone of business growth in the province. Businesses benefiting from IGP are well-positioned to contribute significantly to Manitoba's competitive standing in national and international markets. Consequently, the program not only acts as a catalyst for immediate business growth but also secures long-term economic stability and prosperity for Manitoba.
