INVEST North Program — Innovation Stream

This grant provides financial support tailored to the innovation projects undertaken by businesses in Northern Ontario, focusing on both applied research & development and the commercialization of new technologies. The funding is structured to support up to half of eligible project costs with specific funding caps depending on the project scope.

• Funding for Applied Research and Development only projects is in the form of a conditional contribution of up to 50% of total eligible costs, with a maximum amount of $500,000.
• For projects combining Applied Research & Development with Demonstration & Commercialization, or for Demonstration & Commercialization only projects, funding can reach up to 50% of total eligible costs, with a maximum cap of $2 million.
• The total combined Federal and Provincial government funding, including this grant, cannot exceed 75% of eligible project costs.
• Funding conditions are determined by the NOHFC Board of Directors, and approval is contingent upon available resources, meaning not all projects meeting the criteria will necessarily receive funding.

Eligibility for this grant is determined by specific requirements related to the applicant's profile and proposed activities.

• Applicants must be private-sector businesses.
• Private-sector businesses may partner with a public sector academic or research institution.
• In public-private partnerships, the private-sector business should be the lead applicant and recipient.
• The partnering academic or research institution must have the relevant expertise and resources required by the private-sector partner to complete the proposed project.

Who is eligible?

Who is not eligible

This grant opportunity is specific and restricts eligibility to ensure alignment with the program's objectives. However, the provided information does not specifically mention any industries or status-based restrictions apart from those related to eligible project types and activities.

Eligible expenses

The Innovation Stream grant supports projects that enhance technological advancement and commercialization in Northern Ontario, focusing on market-driven innovations. Eligible activities include a wide range of applied research and development as well as demonstration and commercialization efforts.

• Direct internal technical labour costs associated with the development and commercialization of new technology.
• Prototyping costs, including engineering and design services and fabrication and installation relevant to the technology development.
• Product testing to ensure the effectiveness and viability of a new technology.
• Intellectual property protection costs to secure ownership of innovations.
• Research and development services provided by academic or research partners.
• Building or renovation costs that are directly related to the commercialization phase.
• Prototype demonstration costs for showcasing the technology.
• Material costs necessary for prototype or product development.
• Product certification costs to meet market or industry standards.
• Marketing costs, capped at 20% of total eligible project costs, for trade show assistance and marketing material design.

Eligible geographic areas

This grant supports the development of new and innovative technologies within Northern Ontario. It is specifically aimed at enhancing the region's economic growth through technological advancements.

• Businesses located within Northern Ontario.

The evaluation and selection of projects for this grant focus on several key criteria to determine the project's potential impact and feasibility.

• Innovation meets the NOHFC’s definition of Innovation.
• Strength of the project’s detailed business plan.
• Net economic benefits for Northern Ontario.
• Demonstrated market need and demand.
• Management capacity.
• Business’ financial position.
• Supply chain impacts.
• Level of Risk.

Here are additional relevant details for this grant:

• Applications including demonstration & commercialization costs must show proof of IP rights and technology validation.
• The applicant may need to reimburse NOHFC if any funded assets are sold within three years of project completion.
• The grant allows for stacking with other government funding, up to 75% of eligible project costs.
• For prototype demonstration projects, up to three prototypes are eligible, with case-by-case exceptions possible.
• Direct internal technical labour funded is restricted to efforts in Northern Ontario.
• No funding for labour costs for shareholders with a significant ownership stake, except potentially for sole proprietors.