How much funding can be received?

There is no informations about how much funding can be received.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the Invest Ontario Fund (IOF)?

Invest Ontario Fund (IOF) is funded by Invest Ontario

What are Invest Ontario Fund (IOF)'s eligibility criterias?

The applicant must be an Ontario-based business. The business must operate in the Life Sciences, Advanced Manufacturing, or Technology sector.

Invest Ontario Fund (IOF)

Last Update: February 14, 2025

ON, Canada

Ontario supports strategic investments and job creation in priority sectors

Invest Ontario Fund (IOF) at a glance

Eligible Funding

No Condition

Timeline

Continuous Intakes

Financing Type

Loans and Capital investments

Eligible Industries

Manufacturing
Information and cultural industries
Professional, scientific and technical services
Health care and social assistance

Grant Providers

Invest Ontario

Status

Open

Overview of the Invest Ontario Fund (IOF) program

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.

Financing 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.

Eligible projects & activities

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.

Eligibility criteria of the Invest Ontario Fund (IOF) program

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.

Who is eligible?

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.

Eligible geographic areas

Eligible applicants must be businesses located in Ontario.

How to apply to the Invest Ontario Fund (IOF) program

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.

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.

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.

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.

Additional information

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.