How much funding can be received?

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

What is the deadline to apply?

The program is accepting continuous intake

Regional Economic Growth Through Innovation & Southern Ontario Prosperity Program

Q: What are Regional Economic Growth Through Innovation & Southern Ontario Prosperity Program's eligibility criterias?

The business must be incorporated. The business must engage in developing, commercializing, or producing innovative products, processes, or services. The business must aim to improve productivity, capacity, and competitiveness, or seek to scale up and expand into new markets.

Last Update: January 24, 2025

ON, Canada

Funding for SMEs in Southern Ontario to grow, innovate and compete

Regional Economic Growth Through Innovation & Southern Ontario Prosperity Program at a glance

Eligible Funding

Min. $125,000

Timeline

Open Date : January 1, 2025
Closing date : March 31, 2025

Financing Type

Grant and Funding

Eligible Industries

Agriculture, forestry, fishing and hunting
Manufacturing
Information and cultural industries
Professional, scientific and technical services
Health care and social assistance

Grant Providers

Government of Canada
Federal Economic Development Agency for Southern Ontario (FedDev)

Status

Closed

Overview of the Regional Economic Growth Through Innovation & Southern Ontario Prosperity Program program

Apply for an interest free repayable contribution from $125,000 up to $10 million to develop, commercialize or produce innovative products, processes and services, improve productivity, capacity and competitiveness, scale-up and expand to develop new busi

Financing terms and conditions

This grant program provides financial assistance without interest, focusing on promoting innovation, productivity, and economic growth in Southern Ontario. Funding is structured as repayable contributions designed to accommodate diverse business needs.

No-interest, repayable contributions available from $125,000 up to $10 million per project.
Funding is accessible for incorporated businesses engaging in the development, commercialization, or production of innovative products, processes, and services.

Eligible projects & activities

This grant supports projects that aim to foster innovation, enhance productivity, and promote technology adoption within businesses. These initiatives are designed to drive economic growth and contribute to sustainable and inclusive development within the Southern Ontario region.

Projects that develop, commercialize, or produce innovative products, processes, and services.
Initiatives aimed at improving productivity, capacity, and competitiveness of businesses.
Scaling-up and expansion projects to develop new business opportunities or enter new markets.
Clean economic growth projects supporting the greening of the economy and creating sustainable jobs.
Growth-driven projects that accelerate business development and expansion.
Technology-focused initiatives in sectors like AI, cybersecurity, medical technologies, and agri-tech.
Projects supporting industrial transition, adopting new technologies to improve competitiveness.
Initiatives prioritizing zero-emission vehicles and housing manufacturing innovation.
Projects promoting opportunities for underrepresented groups and regional inclusivity.

Examples of admissible projects:

$ 4,000,000

Transitioning to zero-emission vehicles for a transportation company

$ 1,500,000

Scaling up organic agricultural production to meet new market demands

$ 2,000,000

Developing an innovative AI-driven analytics platform for healthcare services

$ 2,500,000

Improving the production capacity of eco-friendly packaging materials

$ 5,000,000

Improving competitiveness by implementing advanced manufacturing technologies

$ 1,700,000

Developing smart home technology for energy efficiency

Eligibility criteria of the Regional Economic Growth Through Innovation & Southern Ontario Prosperity Program program

Eligibility for this grant is determined by specific requirements related to the applicant's business profile and proposed projects.

The applicant must be an incorporated business.
The project must involve the development, commercialization, or production of innovative products, processes, or services.
The project should aim to improve productivity, capacity, and competitiveness.
The project must focus on scaling up, expanding to develop new business opportunities, entering new markets, or reaching new customers.

Who is eligible?

Incorporated businesses that meet specific objectives. Specifically, companies that:- Develop, commercialize, or produce innovative products, processes, and services.- Improve productivity, capacity, and competitiveness.- Scale-up and expand to develop new business opportunities, enter new markets, or reach new customers.

Who is not eligible

Some types of companies are not eligible for this grant:

Non-incorporated businesses
Non-profit organizations
Government entities

Eligible expenses

This grant supports businesses that aim to develop innovative products, processes, or services and expand their market reach. The funding focuses on accelerating growth, boosting technological advancements, and facilitating industrial transitions.

Projects that develop, commercialize, or produce innovative products, processes, and services.
Activities aimed at improving productivity, capacity, and competitiveness of businesses.
Expanding businesses to reach new markets and target new customer segments.
Initiatives supporting clean economic growth and transitioning to sustainable and green jobs.
Development of projects that involve cutting-edge technologies such as AI, cybersecurity, and medical technologies.
Industrial transition projects that adopt new technologies and innovations to improve competitiveness.
Projects prioritizing the transition to zero-emission vehicles and advancements in housing manufacturing innovation.

Eligible geographic areas

This grant program, administered by FedDev Ontario, is tailored for businesses operating within its designated regions in Canada. Although the details specify a provincial focus, the geographical scope is generally aligned with FedDev Ontario's operational region.

Businesses located in Southern Ontario, Canada.

Eligibility criteria of the Regional Economic Growth Through Innovation & Southern Ontario Prosperity Program program

FedDev Ontario has specific evaluation and selection criteria for the grant application.

Projects will be assessed based on their alignment with the spring 2024 intake priorities.
Priority may be given to projects supporting zero-emission vehicles and housing manufacturing innovation.
Evaluation will consider the project's potential for clean economic growth, business development acceleration, technology focus, and industrial transition.
Inclusive growth and regional coverage are key considerations for project selection.

How to apply to the Regional Economic Growth Through Innovation & Southern Ontario Prosperity Program program

Contact FedDev Ontario

Email info@feddevontario.gc.ca or call 1-866-593-5505 to express interest and discuss your needs.
Ask questions about the grant application process and assess if your project aligns with funding priorities.

Gather Information for Application Prep

Subscribe to FedDev Ontario updates and follow their social media channels for information on programs and services.
Review the detailed criteria and guidelines provided on the FedDev Ontario website when available.

Prepare Application Material

Start drafting your application focused on project objectives, expected outcomes, and alignment with FedDev Ontario priorities.
Compile necessary supporting documents such as business plans, budgets, and technical specifications.

Submit During Intake Period

Await the announcement for the next intake period in fall 2024 or winter 2025.
Submit your completed application along with all required documents as specified by FedDev Ontario's guidelines.

Confirmation

Receive confirmation from FedDev Ontario upon successful submission of your application materials.

Additional information

Here are additional relevant details for this grant:

No-interest, repayable contributions range from $125,000 to $10 million per project.
Projects should align with one or more key priorities such as clean economic growth, growth companies, cutting-edge technology, or industrial transition.
Inclusive growth and regional coverage are important principles guiding investment strategies.
Applicants are encouraged to contact FedDev Ontario at any time for questions or to discuss potential project submissions.
The program places a value on projects that create opportunities for underrepresented groups and spread growth across different community sizes.
Next intake periods for applications are scheduled for fall 2024 and winter 2025.