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Southern Ontario Fund for Investment in Innovation (SOFII)
Financing for innovative SMEs in Southern Ontario
Last Update: March 4, 2026
Funding available
$ 150,000 - $ 500,000
Timeline
- Open continuously
Location
Ontario, Canada
Overview
Access interest-bearing loans up to $500,000 to support the growth of high-growth, innovative SMEs. The program funds late-stage commercialization, new product or service development, new market applications, and new processes or technologies.
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Opportunity Score
Moderate potential, but conditions must align.
At a glance
Funding available
Financing goals
- Increase performance through digital transformation
- Develop a new product or service
- Access new markets
Eligible Funding
- Maximum amount : 500,000 $
- Minimum amount : 150,000 $
Timeline
- Open continuously
Eligible candidates
Eligible Industries
- All industries
Location
- Ontario
Legal structures
- For-profit business
Annual revenue
- All revenue ranges
Organisation size
- All organization sizes
Audience
- Rural or Northern Residents
- Startups
Next Steps
1
Determine your project
2
Validate your eligibility
Activities funded
- Late-stage commercialization.
- New product or service development.
- New applications or markets.
- Development or implementation of new processes or technologies.
Eligibility
Who is eligible?
- Incorporated, revenue-generating SMEs.
- High-growth innovative businesses.
- Businesses in Southern Ontario.
Who is not eligible
- Government ministries, agencies, boards, corporations, and commissions.
- Colleges, polytechnics, universities, and other post-secondary institutions.
- Non-profit organizations.
- Municipal governments.
Eligible expenses
The Southern Ontario Fund for Investment in Innovation (SOFII) supports high-growth SMEs in rural and urban communities by offering loans to boost innovation and expansion. Eligible projects for this funding focus on various stages of development and technology enhancement in businesses.
- Late stage commercialization of products or services.
- Development of new products or services.
- Exploration of new applications or markets for existing products.
- Development or implementation of new processes or technologies.
Eligible geographic areas
- Southern Ontario.
- Durham
- Frontenac
- Haliburton
- Hastings
- Kawartha Lakes
- Lanark
- Leeds and Grenville
- Lennox and Addington
- Northumberland
- Ottawa
- Peterborough
- Prescott and Russell
- Prince Edward
- Renfrew
- Stormont-Dundas-Glengarry
- Toronto
- York
Processing and Agreement
- Applications are first submitted as a Statement of Interest.
- The program reviews the Statement of Interest within five business days.
- Eligible applicants are invited to submit a full application and may be asked for additional information or meetings.
- Applications are reviewed, then a decision is made by the investment review committee and approved by the board.
- Applicants receive a written decision, and approved loans are finalized and disbursed after loan documents and security are completed.
Additional information
Here are additional relevant details for this grant:
- The SOFII program operates as an interest-bearing loan fund rather than a non-repayable grant.
- The loans are structured to be repayable at any time without penalties, offering flexibility to businesses.
- The SOFII Rural initiative offers special incentive terms to rural communities within southeastern Ontario to encourage economic growth.
Documents and links
Frequently Asked Questions about the Southern Ontario Fund for Investment in Innovation (SOFII) Program
Here are answers to the most common questions about the Southern Ontario Fund for Investment in Innovation (SOFII). This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.
What is the Southern Ontario Fund for Investment in Innovation (SOFII)?
Access interest-bearing loans up to $500,000 to support the growth of high-growth, innovative SMEs. The program funds late-stage commercialization, new product or service development, new market applications, and new processes or technologies.
How much funding can be received?
Southern Ontario Fund for Investment in Innovation (SOFII) Funds up to $500,000 of admissible expenses.
Who is eligible for the Southern Ontario Fund for Investment in Innovation (SOFII) program?
To be eligible for the Southern Ontario Fund for Investment in Innovation (SOFII) program, you must:
Incorporated, revenue-generating SME.
Based in Southern Ontario.
Established business with growth plan.
What expenses are eligible under Southern Ontario Fund for Investment in Innovation (SOFII)?
Late-stage commercialization.
New product or service development.
New applications or markets.
Development or implementation of new processes or technologies.
Who can I contact for more information about the Southern Ontario Fund for Investment in Innovation (SOFII)?
You can contact Community Futures Eastern Ontario (CFEO).
Where is the Southern Ontario Fund for Investment in Innovation (SOFII) available?
The Southern Ontario Fund for Investment in Innovation (SOFII) program is available the province of Ontario.
Is the Southern Ontario Fund for Investment in Innovation (SOFII) a grant, loan, or tax credit?
Southern Ontario Fund for Investment in Innovation (SOFII) is a Loans and Capital investments