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 1, 2022
- grant_single|closingDateNovember 25, 2022
- grant_single|grantStatusClosed
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|terms_and_conditions
The thriveFORWARD grant provides diverse financing modalities to support innovation-driven industrial investment in southern Ontario. These modalities are designed to leverage private investments and ensure project success across a variety of strategic and critical sectors.
- Non-repayable performance-based funding matching for startups, with amounts up to $25,000 based on private investment leverage of at least 1:1.
- Non-repayable performance-based funding for SMEs, covering up to 50% of incremental project costs, capped at $100,000, with a project leverage ratio of at least 1:1.
- Funding is contingent upon satisfactory achievement of pre-agreed major milestones to ensure aligned investment towards the adoption of advanced technologies.
grant_single_labels|projects
Through the thriveFORWARD initiative, eligible projects focus on accelerating industrial investment in innovation capital across southern Ontario. These projects emphasize the commercialization of new technologies and fostering green and digital advancements, particularly among diverse and equity-deserving entrepreneur groups.
- Commercialization of innovative technologies by startups and SMEs.
- Adoption of advanced technologies to future-proof businesses.
- Transition projects aimed at fostering a green economy.
- Efforts to enhance competitiveness and resilience of enterprises.
- Projects creating jobs in strategic sectors across southern Ontario.
- Investments in cleantech or digital technology for operational improvements.
- Support for equity-deserving entrepreneurs with projects in critical sectors.
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
This grant targets start-ups and SMEs located in southern Ontario, focusing investments on strategic sectors for economic growth. Eligible geographical areas are defined by specific Statistics Canada Census Divisions within southern Ontario.
- 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, and York
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.
