iRAPID
grant_single|update January 24, 2025
ON, Canada
Funds to commercialize innovations in northern Ontario
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDate November 14, 2019
- grant_single|closingDate December 15, 2023
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Manufacturing
- Professional, scientific and technical services
grant_single|grantors
- Innovation Initiatives Ontario North
grant_single|status
grant_card_status|closed
grant_single_labels|preview
Receive a grant to cover up to 50% of the costs of your product development/prototyping project in one of 3 categories: contractor fees, internal wages and materials (or a combination of these). You can use internal or external resources.
grant_single_labels|terms_and_conditions
iRAPID provides a supportive financial framework for innovative companies seeking to accelerate commercialization. The funding is structured to share project costs between the program and participating businesses, fostering growth and job creation in designated regions.
- Financial support covers up to 50% of eligible costs, exclusive of taxes.
- Four funding levels are available, ranging from a minimum grant of $2,500 to a maximum of $10,000, corresponding to minimum project expenditures from $5,000 to $20,000 before tax.
- Reimbursement of approved project expenses is conducted post-completion, following the submission of final invoices and proof of payment.
- Companies can access funding multiple times for distinct projects, contingent on project and application completion.
grant_single_labels|projects
The iRAPID grant is designed to support for-profit companies in their efforts to grow and commercialize innovative products or services. Eligible projects are those that align with achieving growth milestones through various strategic activities.
- Utilizing internal staff for marketing, research, or implementation of new business opportunities such as exporting, technology, or software projects.
- Engaging contractors to assist in the development, testing, or validation of new products, recipes, or programs.
- Procuring materials or equipment necessary for prototyping or development projects.
grant_single|admissibleProjectsExample
$ 10,000
Launching a recyclable packaging initiative for local products
$ 10,000
Developing eco-friendly home cleaning products
$ 10,000
Creating an online mental health support platform for rural areas
$ 10,000
Developing an innovative AI-based inventory management system for small businesses
$ 10,000
Implementing renewable energy solutions
$ 10,000
Expanding a local organic farm's greenhouse facilities
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the applicant's business status and geographic location.
- The applicant must be a for-profit incorporated entity.
- The core innovation of the business must be registered, located, and operating in the district of Nipissing, Timiskaming, Parry Sound, or Muskoka.
- The program is not intended to support, nor is applicable to, businesses operating as distributors or re-sellers.
grant_eligibility_criteria|who_can_apply
Eligible applicants for the iRAPID program include incorporated for-profit innovative companies. These companies must be registered, located, and operating within the districts of Nipissing, Timiskaming, Parry Sound, or Muskoka. The program specifically targets companies that are not operating primarily as distributors or resellers and that demonstrate potential for job creation and economic growth.
grant_eligibility_criteria|who_cannot_apply
This grant excludes certain companies based on their primary business activities. These restrictions help target funds towards innovative businesses aimed at creating economic growth.
- Businesses operating as distributors.
- Businesses operating as re-sellers.
grant_eligibility_criteria|eligible_expenses
This grant supports innovative companies in achieving growth milestones through specific cost categories that foster job creation and economic growth. Eligible projects focus on utilizing internal resources, contractors, and materials for development and commercialization activities.
- Internal wages for employees working on growth initiatives, including marketing and product development.
- Fees for contractors assisting in product, recipe, or program development and testing.
- Purchase of materials and equipment necessary for prototyping and development projects.
grant_eligibility_criteria|zone
This grant is available to companies located in specific geographic areas within Ontario, Canada. The eligibility is focused on promoting economic growth and innovation in these designated regions.
- The district of Nipissing
- The district of Timiskaming
- The district of Parry Sound
- The district of Muskoka
grant_single_labels|criteria
The evaluation and selection of projects for the iRAPID program grant are likely based on key performance indicators that align with the program's goals to foster innovation, economic growth, and job creation.
- Potential to create jobs and grow the local economy.
- Focus on commercialization activities for innovative projects.
- Utilization of funding in eligible cost categories such as Internal Wages, Contractor Fees, and Materials/Equipment.
- Innovation and uniqueness in the product development approach.
- Feasibility and potential success of the growth project.
grant_single_labels|apply
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grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The iRAPID program supports up to 50% of eligible project costs, excluding taxes.
- Companies can utilize iRAPID funding for separate, independent projects after completing current applications and claims.
- Applications are reviewed monthly, with the last working day of each month as the deadline.
- Approved projects must submit final invoices and proof of payment for reimbursement within six months or by the program's deadline.
Apply to this program
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