Southern Ontario Fund for Investment in Innovation

To be eligible for the Southern Ontario Fund for Investment in Innovation (SOFII) grant program, applicants must meet the following criteria: 1. Be a Small and Medium-sized Enterprise (SME) located in rural or urban communities in Southern Ontario. 2. Demonstrate high-growth potential and innovation in their business model. 3. Seek funding for late-stage commercialization, new product development, new market expansion, or implementation of new processes or technologies. 4. Have a specific project or initiative that aligns with the objectives of the SOFII program. 5. Be able to repay the loan, which ranges from $150,000 to $500,000, within the specified terms. 6. Follow the application process outlined by SOFII, including submission of a statement of interest. Additional criteria may apply for the SOFII Rural initiative, which offers special terms to businesses in specific rural regions of southeastern Ontario. It is recommended to visit the official SOFII website or contact the program administrators for detailed information on eligibility and application requirements.

Evaluation and selection criteria for this grant: - Innovative nature of the project or business - Potential for growth and scalability - Alignment with program objectives and priorities - Economic impact on the region - Financial viability and sustainability - Management team strength and capability - Clear and realistic project plan - Demonstrated market demand or customer interest These criteria are typically used to assess applications for the Southern Ontario Fund for Investment in Innovation (SOFII) grant.

To apply for the Southern Ontario Fund for Investment in Innovation (SOFII) loan program, you can follow these steps: 1. Visit the SOFII website. 2. Complete the statement of interest. 3. Find additional information on the application process. 4. Submit your application. For more detailed information or specific application steps, you can visit the SOFII website or contact them directly.

- SOFII offers special incentive terms to high-growth, small to medium-sized businesses in rural communities of southeastern Ontario through the SOFII Rural initiative. - The loan terms range from $150,000 to $500,000 and are interest-bearing term loans with no application fees. - Repayment can be made anytime without penalties. - Funding is available for late-stage commercialization, new product or service development, new applications or markets, and the implementation of new processes or technologies. - The application process involves completing a statement of interest to access additional information and start the application process.