Invest Ontario Fund (IOF)
ON, Canada
Ontario supports strategic investments and job creation in priority sectors
grant_single|update February 14, 2025
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Manufacturing
- Information and cultural industries
- Professional, scientific and technical services
- Health care and social assistance
grant_single|grantors
- Invest Ontario
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Invest Ontario Fund (IOF) offers funding up to $4 million through a combination of loans and grants, with the aim to stimulate economic growth in Ontario by advancing high-growth opportunities in life sciences, advanced manufacturing, and technology sectors. Eligible activities include leveraging data to prioritize investments with high economic impact, while ensuring job creation and avoiding facility closures or sales of the businesses.
grant_single_labels|terms_and_conditions
- Funding will be offered as a combination of loans and conditional grants.
- There is no maximum funding request limit for applicants.
- The total investment target of the IOF is $400 million over four years.
- Project deliverables must include job creation and intellectual property creation.
- Facility closures and the sale of the business connected to the project are not permitted as per program conditions.
grant_single_labels|projects
- Advance high growth opportunities across advanced manufacturing, life sciences, and technology sectors.
- Leverage data to identify and prioritize investments with significant economic impact for Ontario.
- Ensure total project investment leads to job creation and intellectual property creation.
- Develop partnerships resulting from the project.
- Avoid facility closures and sales of the business due to the project.
grant_single_labels|admissibility
- The applicant must be a business located in Ontario.
- The business must operate in the Life Sciences, Advanced Manufacturing, or Technology sectors.
- Eligible sub-sectors include advanced materials and chemicals, automotive and aerospace (for Advanced Manufacturing), biopharma and vaccines, digital health and analytics, and contract development manufacturing organization (for Life Sciences), and computer and electronic product manufacturing, software and IT services, and clean technology (for Technology).
- The applicant's project must aim to advance high growth opportunities in the specified sectors.
- The project must leverage data to identify and prioritize investments with significant economic impact for Ontario.
- The project must include key deliverables such as total project investment, job creation, IP creation, and partnerships.
- Facility closures and sale of the business during the project are not permitted.
grant_eligibility_criteria|who_can_apply
- Companies in the Life Sciences sector, including Biopharma, Vaccines, and Digital Health and Analytics.
- Advanced Manufacturing industries such as Automotive, Aerospace, and Advanced Materials and Chemicals.
- Technology firms focusing on Software, IT Services, and Clean Technology.
- Businesses involved in Computer and Electronic Product Manufacturing.
- Contract Development Manufacturing Organizations.
grant_eligibility_criteria|zone
- Eligible applicants must be businesses located in Ontario.
grant_single_labels|register
- Step 1: Initial Consultation
- Contact Invest Ontario to inquire about the current intake period for the IOF program.
- Determine your eligibility and discuss your project proposal with their support team.
- Step 2: Application Preparation
- Prepare a comprehensive project proposal outlining your objectives, expected economic impact, and alignment with IOF goals.
- Gather necessary documentation, including financial statements, budget plans, and partnership agreements if applicable.
- Step 3: Application Submission
- Submit your completed application package to Invest Ontario as instructed by their team.
- Ensure all documentation is accurate and submitted before the specified deadline.
- Step 4: Confirmation and Follow-Up
- Receive confirmation of receipt of your application from Invest Ontario.
- Keep track of your application status and respond promptly to any requests for additional information or clarification from Invest Ontario.
grant_single_labels|otherInfo
- There is ongoing support available for over 800 annual funding applications, indicating a robust system for assisting applicants.
- Emphasis on securing strategic business and capital investments that support economic development within Ontario, showcasing the dual focus on job creation and economic growth.
- Opportunities for assistance with application writing for over 100 Canadian federal and provincial grants, suggesting availability of expertise for complex applications.
