Rio Tinto Aluminium Valley Fund
QC, Canada
The Rio Tinto Aluminum Valley Fund offers non-repayable financing up to $25,000 to support aluminum product development in Saguenay—Lac-Saint-Jean.
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- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Manufacturing
grant_single|grantors
- Société de la Vallée de l’Aluminium (SVA)
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grant_card_status|open
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The Fonds Rio Tinto pour la Vallée de l’aluminium® supports entrepreneurs in the Saguenay—Lac-Saint-Jean region by providing funding for the development of aluminum products. Eligible activities include product design, conversion to aluminum, prototyping, market studies, and sustainable development projects. The grant covers up to 50% of the project cost, with a maximum contribution of $25,000, and is non-repayable.
grant_single_labels|projects
This grant supports projects located specifically within the Saguenay—Lac-Saint-Jean region. The targeted area is key to enhancing the local aluminum industry.
- Saguenay—Lac-Saint-Jean region.
grant_single_labels|admissibility
Eligibility for this grant is based on specific criteria related to the location, project type, and focus within the aluminum industry.
- The project must involve the development of aluminum products within the Saguenay—Lac-Saint-Jean region.
- The project can include new or existing aluminum product development, incorporating activities such as design, conversion to aluminum, prototyping, simulation, or new extrusion.
- The project should require specific studies and analyses related to the aluminum processing industry, supporting needs such as marketing, market studies, equipment purchase planning, commercialization readiness, business meetings, or accreditation.
- The project must involve the valorization of aluminum by-products, recycling processes, sustainable development, or circular economy.
grant_eligibility_criteria|who_can_apply
Eligible applicants are entrepreneurs, companies, or entities focusing on the development of aluminum products, leveraging the aluminum industry in the Saguenay—Lac-Saint-Jean region. This includes projects involving the design and development of new or existing aluminum products, prototyping, and sustainable practices in aluminum recycling and by-product valorization.
grant_eligibility_criteria|eligible_expenses
Eligible projects for this grant focus on enhancing the aluminum industry and promoting sustainable practices within the Saguenay—Lac-Saint-Jean region. Efforts are directed towards product development, market analysis, and recycling initiatives.
- Development of new or existing aluminum products, including design, conversion, prototyping, simulation, and new extrusion.
- Conducting specific studies and analyses related to the aluminum processing industry, covering areas such as marketing needs, market studies, equipment purchase planning, commercialization preparation, business meetings, and accreditations.
- Valorization of by-products from aluminum, recycling processes, sustainable development, or circular economy initiatives.
grant_eligibility_criteria|zone
The grant covers various expenses related to the development and commercialization of aluminum products.
- Studies and analyses related to the aluminum transformation industry.
- Marketing and market study needs.
- Equipment purchase planning.
- Preparations for commercialization.
- Business meetings and accreditations.
grant_single_labels|criteria
Projects submitted for this grant are evaluated by the advisory committee based on specific eligibility criteria.
- Development of products in aluminum within the Saguenay—Lac-Saint-Jean territory.
- Involvement in prototyping, simulation, conversion to aluminum, or new extrusion.
- Necessity for studies and specific analyses related to the aluminum transformation industry, including marketing, equipment planning, market studies, business meetings, accreditation, and commercialization preparation.
- Projects focused on the valorization of by-products from aluminum, recycling processes, sustainable development, or circular economy.
grant_single_labels|register
- Step 1: Initial Inquiry
- Contact the Société de la Vallée de l’Aluminium (SVA) to express interest in the grant.
- Ensure your project idea aligns with the main eligibility criteria, focusing on aluminum product development in Saguenay—Lac-Saint-Jean.
- Step 2: Application Preparation
- Prepare a comprehensive project description focusing on development, prototyping, or sustainability aspects related to aluminum.
- Include necessary studies and specific analyses related to the aluminum transformation industry.
- Prepare a detailed budget outlining total project costs and indicating the required 50% funding up to $25,000.
- Step 3: Documentation Gathering
- Compile all necessary supporting documents including marketing studies, market analysis, and business meeting plans.
- Gather any legal or certification documents needed for industry-specific accreditations.
- Step 4: Submission
- Submit the completed application form along with all required documents to the SVA by the specified deadline.
- Ensure clarity and precision in your application to facilitate the evaluation process by the advisory committee.
- Step 5: Confirmation and Follow-up
- Await confirmation of receipt from the SVA for your submitted application.
- Prepare to provide further information or clarifications if requested during the project evaluation stage.
grant_single_labels|otherInfo
This grant is aimed at supporting projects related to the development and transformation of aluminum products within the Saguenay—Lac-Saint-Jean region, and it offers non-repayable funding up to $25,000, covering half the project's total cost.
- Projects must be related to aluminum product development, including new or existing product design, prototyping, simulations, or new extrusions.
- Funding can be used for market studies, marketing needs, equipment planning, commercial preparations, business meetings, accreditations, etc.
- Support also extends to projects focusing on the valorization of aluminum by-products, recycling processes, sustainable development, and circular economy initiatives.
- Projects are assessed by an advisory committee based on set eligibility criteria.
Apply to this program
Empowering Aluminium-Based Innovations in Saguenay—Lac-Saint-Jean
The Rio Tinto Fund for the Aluminium Valley offers critical financial assistance to entrepreneurs engaged in aluminium product development within the Saguenay—Lac-Saint-Jean region. With over $1.9 million distributed since 2015, this grant supports projects that enhance the aluminium industry's growth and sustainability.
Comprehensive Details About the Rio Tinto Fund for the Aluminium Valley
Established to spearhead and bolster the development of aluminium-based projects, the Rio Tinto Fund for the Aluminium Valley plays a significant role in encouraging innovation and economic stability in the Saguenay—Lac-Saint-Jean region. The grant mainly targets projects that involve developing new or existing aluminium products, necessitating meticulous design, simulations, prototyping, and potentially new extrusions. This specialized focus on aluminium-based innovations is aligned with Saguenay—Lac-Saint-Jean's existing industrial strengths and resources.
The Fund is not merely a financial backer but acts as a partner to local businesses by providing extensive support structures which include critical industry-specific studies and analysis. This assistance encompasses marketing strategies, market research, procurement planning, commercialization preparations, business meetings, and accreditations. Through such detailed support, the Fund ensures that grantees do not merely receive funding but gain comprehensive backing throughout their product's development and market introduction phases.
With sustainability as a core criterion, the Rio Tinto Fund also emphasizes projects focusing on aluminium by-product valorization, recycling processes, and advancements in sustainable and circular economic practices. This environmental facet of the Fund ensures that the supported projects contribute to wider ecological goals, aligning with global shifts towards sustainable industries.
The financial aid from the Fund is notably impactful on multiple levels. It provides a non-repayable contribution covering 50% of project costs, capped at $25,000. This form of assistance eases the financial strain on innovators, enabling them to focus on research and development pursuits critical for enhancing their offerings. Additionally, the non-repayable nature of this grant allows for increased risk-taking and innovation, a necessary component of achieving significant leaps in technology and product development.
Over the years, hundreds of projects have benefited from this fund, including notable ventures by companies such as Stobia, La Vieille Garde, SEF Équipements, Conception Navale FMP, and REMAC. These projects have seen real-world success, advancing from concepts to tangible market entities with the Fund's supporting role acknowledged as a key contributor to their achievements. The testimonials from these companies underscore the Fund's substantial impact, highlighting its role in financial assistance, technical advice, and connecting resources within the regional aluminium ecosystem.
In summary, the Rio Tinto Fund for the Aluminium Valley serves as a pivotal financial resource for fostering innovation in the aluminium sector in Saguenay—Lac-Saint-Jean. It leverages the region's industrial capabilities while paving the way for sustainable growth and broader market outreach. Businesses considering applying must align their projects with the Fund's specified criteria, ensuring they contribute positively to the economic landscape and sustainability objectives of the region. By doing so, applicants stand to gain not just financial but also strategic insights to succeed in a competitive, innovation-driven market.
