thriveFORWARD
ON, Canada
Money for technology and industrial companies in Southern Ontario
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateJanuary 01, 2022
- grant_single|closingDateNovember 25, 2022
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Manufacturing
- Information and cultural industries
- Professional, scientific and technical services
grant_single|grantors
- Northumberland Community Futures Development Corporation (NCFDC)
grant_single|status
grant_card_status|closed
grant_single_labels|preview
Receive up to $25,000 in non-refundable funding for your new technology company to help bring your products to market and accelerate your growth, or up to $100,000 in semi-refundable funding to cover eligible project costs for your industrial company to s
grant_single_labels|projects
This grant is aimed at businesses located in Southern Ontario to bolster regional economic growth. The eligible areas include a broad spectrum of census divisions to ensure maximum reach and impact.
- Brant
- Bruce
- Chatham-Kent
- Dufferin
- Durham
- Elgin
- Essex
- Frontenac
- Grey
- Haldimand-Norfolk
- Haliburton
- Halton
- Hamilton
- Hastings
- Huron
- Kawartha Lakes
- Lambton
- Lanark
- Leeds and Grenville
- Lennox and Addington
- Middlesex
- Niagara
- Northumberland
- Ottawa
- Oxford
- Peel
- Perth
- Peterborough
- Prescott and Russell
- Prince Edward
- Renfrew
- Simcoe
- Stormont, Dundas and Glengarry
- Toronto
- Waterloo
- Wellington
- York
grant_single|admissibleProjectsExample
$90,000
Developing AI-based crop monitoring systems
$40,000
Creating a digital literacy program for underserved communities
$70,000
Improving waste management processes with smart technology
$75,000
Introducing green energy solutions for residential buildings
$85,000
Establishing a digital health platform for remote patient monitoring
$55,000
Launching an eco-friendly packaging solution for small businesses
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the applicant's profile and project activities.
- The applicant must be a registered for-profit incorporated business, partnership or cooperative.
- The business must be located in southern Ontario.
- For startups, the business must be formed on or after January 1, 2020, and be in the pre-revenue/prototype to early commercialization stage.
- Approved startups must provide proof of non-government-sourced private investment of at least $25,000.
- SMEs must have fewer than 500 full-time equivalent (FTE) employees.
- SMEs must have $100,000 to $100 million in annual revenue declared in Canada during the last complete tax reporting year.
grant_eligibility_criteria|who_can_apply
Both startups and small- and medium-sized enterprises (SMEs) located in southern Ontario are eligible to apply for the thriveFORWARD initiative grants. Startups must be early-stage, technology-driven companies that are registered for-profit entities and were formed on or after January 1, 2020. SMEs must have fewer than 500 full-time equivalent employees and annual revenue between $100,000 and $100 million. Projects must involve the commercialization or adoption of innovation and should focus on critical sectors, clean growth, digital transformation, or diversity and inclusion initiatives.
grant_eligibility_criteria|who_cannot_apply
There is no specific information provided regarding types of companies or industries that cannot apply for this grant. Restrictions are not clearly detailed, focusing instead on eligibility requirements.
grant_eligibility_criteria|eligible_expenses
The thriveFORWARD initiative aims to promote industrial investment in innovation across southern Ontario by supporting innovation-driven startups and SMEs. Eligible projects involve the commercialization or adoption of innovations primarily within the framework of clean inclusive growth.
- Commercialization of innovation by startups or SMEs.
- Adoption of an innovation by startups or SMEs in critical sectors.
- Investment in projects that transition businesses to a green economy.
- Enhancement of competitiveness and resiliency of businesses.
- Creation of jobs across southern Ontario.
grant_eligibility_criteria|zone
The grant covers costs deemed reasonable and directly related to eligible project activities.
- Expertise related to the project activities.
- Capital expenses linked to the project.
- Non-capital expenses relevant to project activities.
grant_single_labels|criteria
The evaluation and selection of projects for this grant are based on specific criteria with allocated point scores to ensure alignment with the grant’s objectives.
- Future-proofing, Resilience and Business Growth: Assessment of the viability and impact of proposed project outcomes in terms of business growth, resiliency/future-proofing, scale-up/market expansion, increased sales (domestic and/or foreign), supply chain adaptation, market diversification and other activities that will contribute to sustainable economic growth. (20 Points)
- Job Impacts: Consideration of the number of FTE (Full-Time Equivalent) jobs the project will create and/or maintain in Southern Ontario. (20 Points)
- Going Green, or Digital Technology Adoption: Investing in adoption of advanced technology, with prioritization of Cleantech, OR Digital adoption (such as cybersecurity readiness, productivity enhancement, operational resilience). (20 Points)
- Critical Sectors: Within or impacting food production, medical supplies or bio-manufacturing sectors. (20 Points)
- Priority Client Pathways: Diversity, Equity and Inclusion: Business owned or majority-led by underrepresented groups, such as: Indigenous peoples, members of racialized communities, women, youth, 2SLGBTQI+, persons with disabilities, newcomers to Canada, and members of official language minority communities; AND/OR businesses with a diverse workforce, active HR/workforce development programs, businesses that are GBA+ certified, signatories to the 50-30 Challenge, are CAMSC Certified, and/or have other progressive policies, procedures and governance initiatives in place that substantially address diversity and inclusion. (20 Points)
grant_single_labels|register
- Step 1: Create an Account
- Register on the NCFDC's application portal to create an account.
- Step 2: Gather Required Documents
- Collect business information: articles, registrations, and business number.
- Prepare financial information including historical financial statements for the last 2 fiscal years and the most recent interim financial statement (YTD Profit & Loss and consolidated balance sheet).
- Draft a project summary and rationale.
- Outline information on key personnel involved in the project.
- Compile additional documentation such as project proposals, company backgrounders, pitch decks, business plans, and links to websites and social media.
- List all government funding including anticipated funding.
- For startups, provide proof of non-government-sourced private investment of at least $25,000 as of April 19, 2021.
- Step 3: Complete the Application
- Access the appropriate application portal based on your business type.
- Enter all required information and upload documents.
- Ensure the application is fully complete as only complete applications will be considered.
- Step 4: Submit the Application
- Submit the complete application through the NCFDC portal.
- Applications are assessed in priority order based on the date of receipt of a full and complete application.
- Step 5: Review and Decision
- The application will be reviewed by NCFDC.
- Receive a funding decision normally within 30 days from submission of a complete application.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- Recipients must maintain General Liability and Property Damage insurance throughout the project's duration and provide insurance certificates upon request by NCFDC.
- Only one project application can be submitted at a time per applicant, with no recipients having more than one approved thriveFORWARD contribution agreement.
- All supported activities must be new and incremental, starting after April 19, 2021.
- Funding decisions are made based on regional equity considerations to ensure geographic distribution across Southern Ontario.
- Projects and organizations approved for funding will be publicly listed on the NCFDC website.
- Steps are taken to ensure information security, with data shared confidentially with the Canadian government as part of the program process.
Apply to this program
Empowering Entrepreneurs in Southern Ontario
The thriveFORWARD initiative, supported by FedDev Ontario and the Government of Canada’s Jobs and Growth Fund, seeks to stimulate innovation-driven industrial investment across southern Ontario by providing financial support to startups and SMEs. This program prioritizes projects focused on clean and inclusive growth, aiming to enhance entrepreneurial development, job creation, and economic sustainability in the region.
Extensive Insight into thriveFORWARD: Catalyzing Future Growth
thriveFORWARD offers a strategic platform designed to catalyze innovation capital and economic growth through targeted funding for eligible startups and small- and medium-sized enterprises (SMEs) within southern Ontario. The initiative is specifically engineered to accelerate industrial advancements in areas crucial to future economic development such as clean technology and digital innovation. Through its comprehensive funding mechanisms, thriveFORWARD amplifies the capabilities of entrepreneurial ventures by offering them both financial leverage and strategic support.
With its non-repayable, performance-based funding, thriveFORWARD underscores the importance of innovation and technology adoption as key drivers of sustainable development. Startups qualify for funding that matches private investments up to $25,000, setting a strong foundation for technology-driven entities in their early commercialization stages. Simultaneously, SMEs can benefit from up to $100,000 in reimbursements for eligible, innovation-centric project costs. Such financial parameters are designed to support path-breaking projects that demonstrate substantial competitive advantages and promote a leap forward over traditional market offerings.
Aiming at harnessing the power of private sector innovation, thriveFORWARD pushes the boundaries of regional economic expansion. It encourages the deployment of advanced technological solutions across critical sectors, including food production, medical supplies, and bio-manufacturing. These prioritized sectors reflect substantial potential for disruptive innovation, opening opportunities for businesses that seek to transform industry landscapes with breakthrough solutions that also emphasize environmental sustainability.
In fostering an inclusive approach, thriveFORWARD actively includes diversity, equity, and inclusion as central components. Businesses led by underrepresented groups—such as Indigenous peoples, racialized communities, women, and youth—are given special consideration to encourage a more equitable entrepreneurial ecosystem. By supporting diverse talent and ideas, the program not only enhances economic performance but also enriches community integration across socioeconomic fronts.
The overarching objective of thriveFORWARD is to build and maintain business resilience amidst evolving market dynamics. It emphasizes the necessity of future-proofing businesses to ensure long-term success by mapping strategic pathways for innovation and operational excellence. The initiative embodies a forward-thinking approach to industrial growth, ensuring that funded projects align with both current economic demands and potential market shifts.
Additionally, thriveFORWARD’s commitment to regional equity ensures a balanced distribution of resources and opportunities across southern Ontario, addressing regional economic disparities and maximizing the impact of the funded projects. This grassroots approach not only bolsters individual businesses but is also crucial for enhancing wider economic prosperity and competitiveness.Leveraging a collaborative framework supported by industry experts from various sectors, thriveFORWARD accelerates the entrepreneurial journey from conception to commercialization. By connecting innovators with mentorship and strategic insights, the initiative not only facilitates funding but also mentors participants to enhance their potential for groundbreaking advances.
In sum, thriveFORWARD is more than a funding mechanism; it is a visionary movement aimed at sculpting a resilient and scalable entrepreneurial landscape. Its dedication to fostering clean, equitable, and technological transformations makes it a pivotal force in Canada’s economic tapestry, inspiring a new era of innovation-driven prosperity.
