Southern Ontario Fund for Investment in Innovation

Q: How much funding can be received?

Southern Ontario Fund for Investment in Innovation Funds up to 500000% of admissible expenses.

Q: What is the deadline to apply?

The deadline to apply is not specified.

Q: Is the Southern Ontario Fund for Investment in Innovation a grant, loan, or tax credit?

Southern Ontario Fund for Investment in Innovation is a Loans and Capital investments

Q: Who are the financial supporters of the Southern Ontario Fund for Investment in Innovation?

Southern Ontario Fund for Investment in Innovation is funded by Community Futures Eastern Ontario (CFEO)

Q: Who is eligible for the Southern Ontario Fund for Investment in Innovation program?

To be eligible for the Southern Ontario Fund for Investment in Innovation program, you must: • The applicant must be a high-growth Small or Medium-sized Enterprise (SME) in Southern Ontario. • The business should be involved in an innovative sector, focusing on areas such as commercialization, new product or service development, or new market applications.

Q: Who can I contact for more information about the Southern Ontario Fund for Investment in Innovation?

You can contact Community Futures Eastern Ontario (CFEO).

Q: Where is the Southern Ontario Fund for Investment in Innovation available?

The Southern Ontario Fund for Investment in Innovation program is available the province of ON.

Q: Are startups eligible for the Southern Ontario Fund for Investment in Innovation program?

Yes, startups are eligible to apply for the Southern Ontario Fund for Investment in Innovation program.

Last Update: July 22, 2025

ON, Canada

Funds for innovative SMEs in southern Ontario

At a glance

Eligible Funding

From $150,000 to $500,000

Timeline

Open Date : November 14, 2019

Financing Type

Loans and Capital investments

Eligible Industries

All industries

Funds Providers

Unspecified

Program status

Open

Overview

Access interest-bearing loans between $150,000 and $500,000 to support the scale-up of your high-growth, innovative SME.

Financing terms and conditions

The Southern Ontario Fund for Investment in Innovation provides flexible interest-bearing loan financing to support the growth of innovative SMEs. The financing conditions are structured to facilitate investment in late-stage commercialization and technological advancements.

Loans are available in amounts ranging from $150,000 to $500,000, with additional funding available on an exception basis.
The loans are interest-bearing, designed to assist in the scale-up phase of SMEs.
There are no application fees associated with obtaining a loan.
Loans can be repaid anytime without penalties, providing flexibility to enterprises.

Activities funded

This grant is designed to support high-growth Small and Medium-sized Enterprises (SMEs) in Southern Ontario by providing financial investment for innovation-related endeavors. The eligible projects and activities focus on commercializing innovations, developing new products or services, expanding into new markets, and implementing advanced processes or technologies.

Late stage commercialization of products or services.
Development of new products or services to enhance market offerings.
Exploration and penetration of new applications or markets.
Implementation and development of new processes or technologies to increase efficiency and innovation.

Examples of admissible projects:

$ 400,000

Commercialize a new digital health platform for remote patient monitoring

$ 320,000

Expand a social enterprise to provide job training for at-risk youth

$ 390,000

Improve manufacturing productivity by implementing advanced robotics systems

$ 450,000

Develop a new AI-driven cybersecurity software for small and medium businesses

$ 500,000

Develop an innovative battery technology for zero-emission vehicles

$ 350,000

Expand organic food production to meet increasing market demand

Eligibility

Eligibility for the SOFII loan program is determined by specific criteria related to the applicant's size, location, and growth potential.

The applicant must be a high-growth, innovative Small or Medium-sized Enterprise (SME).
The SME must be located in rural or urban communities in Southern Ontario.
The enterprise should be involved in late-stage commercialization, new product or service development, new applications or markets, or development/implementation of new processes or technologies.

Who is eligible?

The Southern Ontario Fund for Investment in Innovation (SOFII) loan program targets high-growth, innovative Small and Medium-sized Enterprises (SMEs) located in both rural and urban communities across southeastern Ontario. Specifically, both late-stage commercialization projects and new product or service developments are supported under this program, making it ideal for companies looking to expand or innovate their offerings.

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

The Southern Ontario Fund for Investment in Innovation (SOFII) is available for high-growth SMEs in both rural and urban centers of southeastern Ontario. Companies operating in the following regions are eligible to apply.

South Lake
Kawartha Lakes
Haliburton
Greater Peterborough
Northumberland
North & Central Hastings & South Algonquin
Trenval
Prince Edward/Lennox & Addington
Renfrew
Frontenac
Valley Heartland
1000 Islands
Grenville
Prescott-Russell
Cornwall & the Counties

Selection criteria

Yes, there are evaluation and selection criteria for this grant.

Focus on clean economic growth projects that support the greening of the economy, contribute to emissions reductions, and create sustainable and green jobs.
Projects that accelerate business development and growth of companies.
Projects in cutting-edge technology sectors such as artificial intelligence, cybersecurity, medical technologies, digital health, and agri-tech.
Industrial transition projects that support changes in traditional sectors to adopt new technologies and innovations for improved competitiveness and new opportunities.
Priority may be given to projects supporting the transition to zero-emission vehicles and housing manufacturing innovation.

How to apply

Complete Statement of Interest

Access the online platform through the provided link to complete the statement of interest form.
Enter all required preliminary information about your SME and its innovative project.

Gather Necessary Documents

Prepare a comprehensive business plan outlining your project details, objectives, and anticipated outcomes.
Gather financial statements, projections, and any supporting documentation required by SOFII.

Prepare Application

Compile all necessary information and documents into a complete application package.
Ensure compliance with all guidelines and criteria outlined by SOFII.

Contact SOFII Regional Office

Reach out to the SOFII regional office in your area for specific guidance on submitting your application.
Ask for any region-specific requirements or additional steps necessary for submission.

Submit Application

Finalize your application documents following the instructions from the SOFII guidelines.
Submit the application either electronically or through the method prescribed by your regional office.

Confirmation and Follow-up

Receive confirmation from the SOFII office acknowledging receipt of your application.
Monitor communications for any requests for additional information or clarification.

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

Southern Ontario Fund for Investment in Innovation

Apply to this program

Frequently Asked Questions about the Southern Ontario Fund for Investment in Innovation Program

Here are answers to the most common questions about the Southern Ontario Fund for Investment in Innovation. 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.