Step Forward Entrepreneurs Program
Canada
Money for innovation and commercialization enhancement
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateAugust 30, 2022
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Innovation Initiatives Ontario North
grant_single|status
grant_card_status|open
grant_single_labels|preview
Receive funding to cover up to 50% of eligible project costs to demonstrate the potential of your business to create jobs, grow the economy, reach new markets, expand sales, innovate and create new products and services.
grant_single_labels|terms_and_conditions
The Step Forward Entrepreneurs Program provides non-repayable funding to support various project categories, enhancing business growth and market expansion for eligible companies. Three funding levels are structured to cover a portion of eligible expenses.
- Funding supports 50% of eligible costs before tax, with a choice of three levels:
- Level 1: Provides a $5,000 grant for a minimum project expenditure of $10,000 before tax.
- Level 2: Offers a $7,500 grant requiring a minimum project spend of $15,000 before tax.
- Level 3: Grants $10,000 for projects with at least $20,000 in expenditures before tax.
- Reimbursement is provided for expenses once companies pay 100% of invoices and submit claims to IION, covering up to 50% of eligible costs (excluding HST).
- Payments are processed via Electronic Funds Transfer (EFT) upon receipt of complete claim submissions.
grant_single_labels|projects
The Step Forward Entrepreneurs Program (SFEP) provides funding to support for-profit companies in market growth, product development, and productivity enhancement. Eligible activities are aimed at promoting business growth, creating jobs, and driving revenue increases.
- Market Growth & Expansion: Attendance and exhibiting at new trade shows and associated travel costs.
- Design and development of branding and promotional materials (video, print, audio).
- Conducting market research and creating sales/marketing plans.
- Label design for products.
- Product Development: Achieving product certifications and prototype development (engineering, design, machining/fabrication).
- Software development and trial testing.
- Purchasing equipment/software for prototyping.
- Productivity/Business Enhancements: Conducting intellectual property research and protection.
- Development of business strategies and feasibility analysis.
- Training and certifications for enhanced skills.
- Studies and implementation of productivity/lean manufacturing processes.
- Acquisition of equipment/software related to the core business offering.
grant_single|admissibleProjectsExample
$ 2,500
Marketing campaign for a new artisanal bakery targeting local and tourist customers
$ 2,500
Development of a new bilingual website to reach French and English-speaking markets
$ 2,500
Intellectual property protection for a new app developed by our tech startup
$ 3,000
Participation in a trade show to explore new export markets for eco-friendly packaging
$ 2,500
Obtaining certifications for sustainable seafood sourcing
$ 2,500
Market research for the launch of a new organic skincare line
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the applicant's business status, location, and operational focus.
- The applicant must be an incorporated for-profit entity.
- The applicant must be registered, located, and operating in the district of Nipissing, Timiskaming, Parry Sound, or Muskoka.
- The program is not intended to support businesses operating as distributors or re-sellers.
- Applications must be received prior to incurring costs associated with the project.
grant_eligibility_criteria|who_can_apply
The SFEP is targeted towards incorporated for-profit businesses that are registered, located, and operating in the districts of Nipissing, Timiskaming, Parry Sound, or Muskoka, Canada. It is specifically designed for those businesses that aim to innovate, create new products and services, disrupt existing industries, or demonstrate potential for job creation and economic growth. Companies must not operate as distributors or re-sellers to be eligible.
grant_eligibility_criteria|who_cannot_apply
This grant excludes certain companies based on their primary business activities. The restrictions are designed to focus support on innovative and job-creating businesses rather than those involved in distribution.
- Businesses operating as distributors or re-sellers.
grant_eligibility_criteria|eligible_expenses
Eligible projects under the Step Forward Entrepreneurs Program (SFEP) aim to enhance innovation and market reach for businesses. These projects focus on various growth-oriented activities that can significantly contribute to economic expansion and job creation.
- Participation in trade shows to explore new markets and business opportunities.
- Development and distribution of marketing materials to increase brand visibility.
- Website development or updates to enhance online presence and user experience.
- Provision of training, certifications, or licenses to improve business capabilities.
- Conducting market or product research, including covering market-entry fees.
- Managing intellectual property costs and legal fees.
- Engaging business growth expertise to foster strategic planning and expansion.
- Pursuing export development initiatives to enter and expand in international markets.
- Performing business opportunity assessments to identify potential for new advancements.
grant_eligibility_criteria|zone
This grant is available to companies located in specific geographical areas determined by the funding body. The eligible locations are targeted to ensure alignment with regional development goals.
- Companies registered and operating in one of IION's service districts: Nipissing, Timiskaming, Parry Sound or Muskoka.
grant_single_labels|criteria
The evaluation and selection criteria for projects under the SFEP grant focus on the project's potential to stimulate innovation, grow the economy, and create employment opportunities.
- Demonstration of innovation and potential industry disruption.
- Potential for job creation and contribution to economic growth.
- Exploration of business growth opportunities and market expansion potential.
- Comprehensive and feasible project plan that communicates clear objectives.
- Appropriate alignment with eligible funding opportunities such as trade shows, marketing, export development, etc.
- Utilization of funds for innovation-centric and market-entry-oriented activities.
grant_single_labels|register
Here are the steps to submit an application for the SFEP grant:
- Step 1: Initial Consultation
- Contact Matthew at IION to discuss the program details and confirm eligibility requirements.
- Schedule a meeting if needed to clarify application specifics.
- Step 2: Prepare Application
- Download the application form from the IION website or request it via email.
- Compile necessary information regarding your project such as objectives, budget, and expected outcomes.
- Ensure that all proposed expenses align with eligible activities under SFEP.
- Step 3: Submission
- Complete the application form thoroughly, providing all required details.
- Submit the application form to IION by the last working day of the month to be considered in the competitive review process.
- Ensure applications are submitted before incurring any project costs.
- Step 4: Application Review Process
- Wait for feedback or any suggested revisions from IION after initial submission.
- Revise and resubmit the application if necessary based on the feedback received.
- Step 5: Approval and Reimbursement
- Upon approval, complete the project within a six-month timeframe or before the program deadline.
- Submit final invoices and proof of payment to receive reimbursement of eligible expenses.
- Step 6: Follow-up Requirements
- Register as an IION client as part of the eligibility.
- Complete a post-project short results survey.
- Participate in an annual survey to assist in ongoing support initiatives.
grant_single_labels|otherInfo
Here are some additional relevant details for this grant:
- Applicants are encouraged to apply early to get feedback from IION, enhancing the chances of application approval.
- Funding is reimbursed only after final invoices and proof of payment are submitted and approved.
- Each company can apply multiple times for separate and independent projects, offering ongoing support for business growth.
- Successful applicants have an obligation to participate in post-project and annual surveys to evaluate project outcomes and impacts.
- Businesses are required to register as an IION client, which facilitates ongoing support and engagement with the innovation network.
- The program does not cover certain internal costs and distributions, ensuring focus on external growth and innovation expenditures.
- There is a specific focus on job creation and economic growth, meaning applications should emphasize these potential outcomes.
