Regional Economic Growth Through Innovation & Southern Ontario Prosperity Program

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.

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?

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.

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.

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.