Get a repayable contribution of up to $500,000 to cover up to 50% of eligible costs for a project that focuses on growth, productivity, technology adoption, market development and investment attraction.

Financing terms and conditions

The REGI — Business Scale-up and Productivity (BSP) program provides funding assistance to SMEs with specific terms regarding repayment and contribution limits. The support aims to facilitate business expansion and technology adoption in Northern Ontario.

Assistance is generally repayable, with a maximum contribution of $500,000 per project.
The awarded contribution is based on the minimum amount required for the project to proceed.
Applicants are eligible to receive up to 50 percent of eligible and supported project costs.
Total government funding cannot exceed 75 percent of supported eligible non-capital costs and 50 percent of supported eligible capital costs.
The applicant must secure at least 50 percent of the project's eligible costs through other means.
Terms of repayment are determined during the development of the contribution agreement and usually begin no later than one year after project completion.
Financial assistance from the program may have tax implications, and applicants are advised to consult with a tax professional.

Activities funded

This grant supports business activities that encourage technology adoption, market expansion, and improved management practices aimed at scaling up productivity and competitiveness. The projects are designed to help firms in Northern Ontario accelerate growth and enhance their technological capabilities.

Technology demonstration, adoption, and adaptation including the assessment and acquisition of new technologies/processes.
Process re-engineering and improvement of manufacturing capabilities.
Advanced manufacturing capacity development and productivity improvement initiatives.
Commercialization efforts and market development, focusing on product and service diversification.
Market diagnostics and expansion, integrating into domestic and global value chains.
Operational demonstration of new technologies/processes.
Developing high-performance business management teams and adopting best practices.
Governance and investment readiness improvements.
Business opportunity development and increasing manufacturing capacity.

Examples of admissible projects:

$ 425,000

Implementing advanced drone technology for forest management

$ 300,000

Adopting AI tools to improve customer experience

$ 350,000

Development of a regional food processing facility

Eligibility

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

Applicants must be incorporated small and medium-sized enterprises (SMEs) or Indigenous (First Nation/Métis/Inuit) businesses and organizations.
Applicants must be legal entities capable of entering into legally binding agreements.
Applicants must demonstrate a sustainable business model, typically supported by two years of operations.
Applicants must show financial capacity to complete the project and repay the contribution in full.
Applicants must present managerial, technical, and operational capacity to achieve the project's objectives in a timely manner.
Applicants must demonstrate market or industry demand, showing potential for market growth and participation in global value chains.
Projects must be located in Northern Ontario and show that benefits will accrue to the region.

Who is eligible?

Eligible applicants for the Business Scale-up and Productivity (BSP) Stream include incorporated small and medium-sized enterprises (SMEs) and Indigenous (First Nation/Métis/Inuit) businesses and organizations. Retail and service-based businesses are not considered eligible under this program.

Who is not eligible

This grant excludes certain companies from eligibility due to their status or the nature of their main activity. These restrictions are tailored to ensure the funding is targeted toward innovative and growth-oriented sectors.

Retail businesses.
Service-based businesses.
Smaller startups and entrepreneurs (who are directed to other streams like the Regional Innovation Ecosystems).

Eligible expenses

Eligible activities for this grant revolve around enhancing the technological capabilities and market presence of businesses in Northern Ontario. These projects aim to improve productivity through advanced techniques and market expansion initiatives.

Technology demonstration, adoption, and adaptation.
Assessing, acquiring, adapting, or adopting new technologies/processes and related skills development.
Process re-engineering.
Increasing/improving manufacturing capacity.
Advanced manufacturing capacity development.
Productivity improvement.
Late-stage product, process, or service development geared towards market diversification and growth, such as technology showcasing.
Market diagnostics, development, and expansion.
Integration in domestic and global value chains.
Demonstration of new technologies/processes in an operational setting.
Building high-performance teams.
Adopting best management practices, processes, and systems.
Improving governance and investment readiness.
Business opportunity development.
Increasing manufacturing capacity.

Eligible geographic areas

This grant is focused on benefiting companies located in Northern Ontario, reflecting the regional development priorities of FedNor. Eligible geographical areas are specifically concentrated within this region to enhance economic growth and diversification.

Companies operating within Northern Ontario.

Selection criteria

The evaluation and selection of projects for this grant primarily focus on their potential benefits to Northern Ontario and alignment with the program’s goals, though specific point scores for each criterion are not detailed in the provided context.

Demonstration of a sustainable business model with typically two years of operational history.
Strong financial capability to complete the project and repay contributions.
Managerial, technical, and operational capacity to meet project goals promptly.
Clear evidence of market/industry demand and potential for market growth or diversification.
Viable project plan with achievable outcomes supported by verified cost estimates.

How to apply

Initial Contact

Call FedNor at 1-877-333-6673 to discuss your project proposal with a FedNor Officer in your area.
Ensure your project aligns with the program's objectives and requirements.

Prepare Proposal

Draft a detailed project proposal outlining the technology adoption or market expansion strategy.
Include financial forecasts, expected results, and a demonstration of management capacity.
Compile necessary supporting documents, such as financial statements or business plans.

Submission Process

Follow the instructions provided by the FedNor Officer regarding the specific submission method.
Ensure all documents are complete and meet the specified requirements.
Submit your application before the stated deadline, if applicable.

Await Feedback

Once submitted, wait for confirmation of receipt from FedNor.
FedNor may contact you for additional information or clarification during the assessment process.

Additional information

Here are additional relevant details for this grant:

Interest rates and terms of repayment for the financial assistance will be determined individually during the development of the contribution agreement.
Applicants are encouraged to secure advice from a tax professional due to possible tax implications of receiving financial assistance from government programs.
FedNor specifically notes the importance of discussing project details with a FedNor officer before proceeding with the application, due to high demand and limited budget availability.

Documents and links

REGI — Business Scale-up and Productivity (BSP) - Northern Ontario

Contacts

1-877-333-6673

Apply to this program

Frequently Asked Questions about the REGI — Business Scale-up and Productivity (BSP) - Northern Ontario Program

Here are answers to the most common questions about the REGI — Business Scale-up and Productivity (BSP) - Northern Ontario. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.

What is the REGI — Business Scale-up and Productivity (BSP) - Northern Ontario?

How much funding can be received?

What is the deadline to apply?

Is the REGI — Business Scale-up and Productivity (BSP) - Northern Ontario a grant, loan, or tax credit?

Who are the financial supporters of the REGI — Business Scale-up and Productivity (BSP) - Northern Ontario?

Who is eligible for the REGI — Business Scale-up and Productivity (BSP) - Northern Ontario program?

To be eligible for the REGI — Business Scale-up and Productivity (BSP) - Northern Ontario program, you must: The applicant must be an incorporated small or medium-sized enterprise (SME) or an Indigenous (First Nation/Métis/Inuit) business or organization. The applicant must have a sustainable business model supported by at least two years of operations. Retail and service-based businesses are not considered eligible for this program.