iRAPID
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|openingDateNovember 14, 2019
- grant_single|closingDateDecember 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|projects
Summary: The iRAPID program provides funding support for incorporated for-profit innovative companies in the Nipissing, Timiskaming, Parry Sound, or Muskoka districts to accelerate commercialization activities that contribute to company growth projects.
- Internal Wages: Cost of an existing T4 employee working on company projects like marketing, researching, implementing new business opportunities, or product development.
- Contractor Fees: Costs for contractor’s time, expertise, facility, or equipment to develop new products, recipes, or programs.
- Materials/Equipment: Cost of consumables or equipment used during prototyping/development projects.
grant_single|admissibleProjectsExample
$10,000
Parry Sound
Launching a recyclable packaging initiative for local products
$10,000
Muskoka
Developing eco-friendly home cleaning products
$10,000
Timiskaming
Creating an online mental health support platform for rural areas
$10,000
Muskoka
Developing an innovative AI-based inventory management system for small businesses
$10,000
Parry Sound
Implementing renewable energy solutions
$10,000
Nipissing
Expanding a local organic farm's greenhouse facilities
grant_single_labels|admissibility
The iRAPID program supports for-profit incorporated companies in specific districts, offering grants for growth projects that have the potential to create jobs and boost the economy. Eligibility criteria include company registration in Nipissing, Timiskaming, Parry Sound, or Muskoka, for-profit status, and operation as an innovative entity.
- The applicant must be a for-profit incorporated entity.
- The core innovation of the business must be registered, located, and operating in Nipissing, Timiskaming, Parry Sound, or Muskoka districts.
- The program is not for businesses operating as distributors or re-sellers.
grant_eligibility_criteria|who_can_apply
Eligible companies for the iRAPID grant must be for-profit incorporated entities with core innovations registered, located, and operating in the district of Nipissing, Timiskaming, Parry Sound, or Muskoka. The program does not support businesses operating as distributors or re-sellers.
- For-profit incorporated entities
- Core innovations registered, located, and operating in Nipissing, Timiskaming, Parry Sound, or Muskoka
grant_eligibility_criteria|eligible_expenses
Eligible expenses for this grant include internal wages, contractor fees, and materials/equipment costs that will help achieve a growth milestone for the company. The grant can cover up to 50% of eligible costs at different funding levels based on project spend before tax.
- Internal Wages: Cost of an existing T4 employee working on company projects.
- Contractor Fees: Costs associated with utilizing contractors for product development and testing.
- Materials/Equipment: Cost of consumables or equipment needed for prototyping/development projects.
grant_eligibility_criteria|zone
Geographic areas eligible for this grant are districts of Nipissing, Timiskaming, Parry Sound, or Muskoka.
- Nipissing
- Timiskaming
- Parry Sound
- Muskoka
grant_single_labels|criteria
There are evaluation and selection criteria for this grant.
- For-profit incorporated entity
- Core innovation registered, located, and operating in specific districts
- Not applicable to distributors or re-sellers
grant_single_labels|register
- Step 1: Contact IION to ensure your project qualifies
- Content: Reach out to Emily at 705-498-5584 or email at [email protected]
- Implications: Verify project eligibility and get guidance on the application process
- Step 2: Submit your application before the monthly deadline
- Content: Complete the application form with all required details
- Implications: Ensure timely review of your application for funding consideration
- Step 3: Await review and feedback from IION
- Content: Wait for IION's comments or suggested revisions on your application
- Implications: Modifications may be needed before final approval
- Step 4: Implement the proposed project and incur costs
- Content: Begin work on the project after application approval
- Implications: Costs incurred are eligible for potential reimbursement
- Step 5: Submit final invoice(s) and proof of payment to IION for reimbursement
- Content: Provide documentation of expenses for approved project costs
- Implications: Reimbursement will be processed within the specified time frame
Apply to this program
iRAPID Grant Summary
The iRAPID grant program supports incorporated for-profit innovative companies in accelerating their commercialization activities by providing financial assistance for identified growth projects. Eligible companies in specific districts can receive grants at different funding levels to offset costs related to internal wages, contractor fees, and materials/equipment.
iRAPID Grant Program Details
The iRAPID program is designed to assist for-profit incorporated entities with innovative projects that have the potential to stimulate economic growth and job creation in the Nipissing, Timiskaming, Parry Sound, or Muskoka districts. Companies can apply for grants to cover up to 50% of eligible project costs, with four funding levels based on the minimum project spend before tax.
The grant can be used for various project expenses, including internal wages for T4 employees working on growth milestones, contractor fees for specialized services, and materials/equipment for prototyping and development. By supporting multiple projects, the program aims to foster innovation and drive business success in the designated regions.
Businesses interested in accessing the iRAPID grant should reach out to the Innovation Initiatives Ontario North (IION) for guidance on the application process and eligibility criteria. The program emphasizes the importance of creating sustainable business growth through strategic investments and innovative initiatives.
