Regional Economic Growth Through Innovation & Southern Ontario Prosperity Program
ON, Canada
Funding for SMEs in Southern Ontario to grow, innovate and compete
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
grant_single|deadlines
- grant_single|closingDateJune 24, 2024
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
- Manufacturing
- Information and cultural industries
- Professional, scientific and technical services
- Health care and social assistance
grant_single|grantors
- Government of Canada
- Federal Economic Development Agency for Southern Ontario (FEDDEV)
grant_single|status
grant_card_status|open
grant_card_status|closingSoon
grant_single_labels|preview
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
grant_single_labels|projects
This funding opportunity is offered by FedDev Ontario, indicating a regional focus specific to certain areas in Ontario. However, the exact eligible geographical areas for application are not specified in the provided context.
grant_single|admissibleProjectsExample
$4,000,000
Montreal
Transitioning to zero-emission vehicles for a transportation company
$1,500,000
Winnipeg
Scaling up organic agricultural production to meet new market demands
$2,000,000
Toronto
Developing an innovative AI-driven analytics platform for healthcare services
$2,500,000
Vancouver
Improving the production capacity of eco-friendly packaging materials
$5,000,000
Ottawa
Improving competitiveness by implementing advanced manufacturing technologies
$1,700,000
Calgary
Developing smart home technology for energy efficiency
grant_single_labels|admissibility
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.
grant_eligibility_criteria|who_can_apply
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.
grant_eligibility_criteria|who_cannot_apply
Some types of companies are not eligible for this grant:
- Non-incorporated businesses
- Non-profit organizations
- Government entities
grant_eligibility_criteria|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.
grant_single_labels|criteria
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.
grant_single_labels|register
Here are the steps to apply for this grant:
- Step 1: 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.
- Step 2: 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.
- Step 3: 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.
- Step 4: 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.
- Step 5: Confirmation
- Receive confirmation from FedDev Ontario upon successful submission of your application materials.
grant_single_labels|otherInfo
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.
grant_single_labels|contact
info@feddevontario.gc.ca
1-866-593-5505
Apply to this program
FedDev Ontario's Support for Business Growth and Innovation
This grant provides substantial financial support to businesses engaged in innovative projects that align with Canada's economic and sustainable development goals. By focusing on sectors like clean growth, technology, and industrial transition, it aims to foster inclusivity and regional economic expansion.
Comprehensive Overview of the FedDev Ontario Grant and Its Significance
The FedDev Ontario grant is a cornerstone initiative designed to empower businesses in Ontario by providing no-interest, repayable contributions ranging from $125,000 up to $10 million. This grant targets companies that are actively involved in the development, commercialization, or production of breakthrough products, processes, and services. In focusing on enhancing productivity, capacity, and competitiveness, the grant serves as a catalyst for businesses seeking to scale up and seize new market opportunities.
FedDev Ontario prioritizes projects aligned with clean economic growth, promoting environmental initiatives that reduce emissions and generate green jobs. The emphasis on technological advancement includes sectors such as artificial intelligence, cybersecurity, medical technologies, and agri-tech. Moreover, the grant supports industrial transition, encouraging traditional industries to adopt modern technologies and practices to enhance efficiency and remain competitive in the global market.
One of the unique aspects of this grant is its commitment to inclusive growth, ensuring that projects creating opportunities for underrepresented groups and fostering development in both urban and rural areas receive ample consideration. The overarching goal is to promote diversity and economic resilience across the region, making it an ideal opportunity for businesses focusing on inclusivity as part of their growth strategies.
Importantly, FedDev Ontario positions itself as a partner throughout the funding process. The application process is designed to be straightforward, with support readily available to all applicants. This approach ensures that businesses can focus more on project planning and execution rather than navigating administrative hurdles. In addition to financial support, the program offers networking opportunities, technical expertise, and potential partnerships to enhance the impact and sustainability of supported projects.
Applicants are encouraged to align their projects with pressing national priorities like the development of zero-emission vehicles and innovations in housing manufacturing. Projects that address these areas not only stand to benefit from funding but also contribute to Canada's larger goal of building a sustainable future. FedDev Ontario recognizes the pivotal role of technology in driving economic growth and job creation, hence the strategic preference for technology-driven projects.
The meticulous evaluation criteria used in assessing applications ensure that only projects with high potential for success and impact are funded. Criteria include innovation, sustainability, market potential, feasibility, and alignment with the strategic goals of the grant. This careful scrutiny helps optimize resource allocation, ensuring that funded projects deliver measurable outcomes that contribute positively to the wider economic landscape.
In conclusion, the FedDev Ontario grant is more than just financial aid; it's part of a broader strategy to stimulate economic growth and innovation in Ontario's diverse communities. The program positions participating businesses not only to access necessary resources but to play an integral role in shaping a sustainable and prosperous economic future.
