Regional Development Program — Advanced Manufacturing and Innovation Competitiveness Stream
At a glance
- Max. $1,500,000
- Open Date : July 20, 2023
- Closing date : September 14, 2023
- All industries
- Government of Ontario
Overview
Eligibility criteria
The Advanced Manufacturing and Innovation Competitiveness (AMIC) Stream provides financial support to advanced manufacturing companies in Ontario, focusing on small and medium-sized enterprises. To be eligible for this grant, businesses must meet the following criteria:
- Have at least three years of operations/financial statements
- Employ at least 10 people
- Commit to creating at least five new jobs and/or upskilling current jobs
- Invest at least $500,000 in their project
- Be located in or plan to locate in a community in Ontario
Who is eligible
Eligible companies for this grant include businesses and organizations in advanced manufacturing sectors such as aerospace, automotive, chemical, information and communications technology (ICT), life sciences, and steel.
- Aerospace
- Automotive
- Chemical
- Information and Communications Technology (ICT)
- Life Sciences
- Steel
Who is not eligible
Some types of companies are not eligible for this grant. They include:
- Ongoing operations, maintenance, and capital replacement
- Refinancing of existing business operations
- Acquisitions and buyouts
- Restructuring or relocating to other jurisdictions within Ontario
- Primary production
- Retail
- Construction (e.g., residential development)
- Personal services
- Consulting
- Electricity generation
- Waste management
- Recycling
Eligible expenses
The grant provides funding for eligible project costs related to capital equipment, technology adoption, and skills development. Eligible expenses may include:
- Investments in capital equipment
- Adoption of new technologies
- Skills development and training for employees
Eligible projects & activities
There are eligible projects for the grant. The Advanced Manufacturing and Innovation Competitiveness (AMIC) Stream supports companies in the advanced manufacturing sectors with investments in capital equipment, technology adoption, and skills development.
- Create jobs and build talent
- Attract and encourage private sector investment
- Help companies adopt technologies to improve competitiveness
- Lead to business growth and broad positive economic impacts
- Encourage innovation, collaboration, and cluster development
Eligible geographic areas
Geographic Area Eligibility Summary: The Advanced Manufacturing and Innovation Competitiveness (AMIC) Stream covers all of Ontario.
- The AMIC Stream is inclusive of all regions within Ontario.
Evaluation & selection criteria
There are evaluation and selection criteria for this grant. Successful projects must align with the fund’s goals of supporting advanced manufacturing, support job creation or upskilling, provide economic benefits, and be achievable.
- Align with the fund’s goals of supporting advanced manufacturing
- Support job creation or upskilling
- Provide economic benefits
- Be achievable (applicants need to have the necessary financing, project management structure, and experience to implement the project)
How to apply
- Step 1: Complete the online self-assessment tool.
- Content: Fill out the self-assessment tool provided online
- Step 2: Contact a provincial government advisor for help with your checklist and application.
- Content: Reach out to an advisor from the provincial government for assistance
- Step 3: Register for Transfer Payment Ontario (TPON).
- Content: Sign up on TPON, the online application system for grant funding in Ontario
- Step 4: Work with your advisor to complete and submit the application forms, along with the required supplemental information.
- Content: Collaborate with your advisor to finalize and send in the application with all required details
Regional Development Program: Advanced Manufacturing and Innovation Competitiveness Stream Summary
This program offers financial assistance to advanced manufacturing companies in Ontario, focusing on small and medium-sized enterprises. It supports investments in capital equipment, technology adoption, and skills development to enhance competitiveness and drive economic growth.
Detailed Explanation of the Regional Development Program: Advanced Manufacturing and Innovation Competitiveness Stream
The Advanced Manufacturing and Innovation Competitiveness (AMIC) Stream is a targeted funding initiative aimed at supporting advanced manufacturing businesses in Ontario, with a particular emphasis on small and medium-sized enterprises (SMEs). The program provides financial support to companies in sectors such as aerospace, automotive, chemical, ICT, life sciences, and steel, helping them make strategic investments to improve their competitiveness and foster innovation.
Through the AMIC Stream, eligible businesses can access funding for projects that drive job creation, talent development, and business growth. The program aims to incentivize companies to invest in technology, equipment, and workforce development, leading to positive economic impacts and enhanced competitiveness in the global market.
One of the key objectives of the AMIC Stream is to encourage collaboration, innovation, and cluster development within the advanced manufacturing sector in Ontario. By supporting projects that align with these goals, the program seeks to strengthen the province's manufacturing ecosystem and position Ontario-based companies for long-term success.
The program offers various types of support, including funding, loans, and grants, to help companies finance their projects and achieve their growth objectives. Companies can receive funding of up to 15% of eligible project costs, as well as interest-free loans to a maximum of $5 million for up to four years. Furthermore, grants are available for specific circumstances, such as supporting small companies in rural communities or strategic projects that drive significant job creation.
In addition to financial assistance, the AMIC Stream provides complementary supports and services to help companies navigate government programs, enhance their skills and talent, address health and safety concerns, and improve environmental sustainability. These services are designed to complement the funding support and ensure that companies have access to the necessary resources to successfully implement their projects.
To apply for the program, businesses must meet certain eligibility criteria, including having at least three years of operations, employing a minimum of 10 people, committing to creating new jobs or upskilling current positions, and investing a minimum of $500,000 in their projects. The program has specific application intake periods throughout the year, with detailed guidelines and deadlines for interested businesses to follow.
Overall, the Regional Development Program: Advanced Manufacturing and Innovation Competitiveness Stream aims to foster a competitive manufacturing industry in Ontario by providing strategic support to advanced manufacturing companies. By investing in technology, skills development, and innovation, the program seeks to drive economic growth, create job opportunities, and enhance the overall competitiveness of Ontario’s manufacturing sector on a global scale.
