Toronto Main Street Innovation Fund
Toronto, ON, Canada
The Main Street Innovation Fund supports Toronto's business recovery through grants for innovative community projects.
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Grant and Funding
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- Government of Canada
- Federal Economic Development Agency for Southern Ontario (FEDDEV)
- City of Toronto
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The Main Street Innovation Fund in Toronto provides grants to Business Improvement Areas (BIAs) and not-for-profit organizations to support innovative and creative solutions addressing main street business challenges. The program aims to enhance main street vibrancy through activities such as community placemaking, main street activations, and technology improvements, offering grants ranging from $25,000 to $100,000 for eligible projects.
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Yes, there are several projects and activities eligible for this grant:
- Main street activations
- Community placemaking
- Community planning and policy making
- Technology improvements
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The Main Street Innovation Fund is available to Toronto Business Improvement Areas (BIAs) and not-for-profit organizations with strong local business involvement. For-profit businesses, including sole proprietorships, partnerships, and corporations, are not eligible to apply.
- Toronto BIAs
- Not-for-profit organizations including Business Associations and Registered Charities with strong local business involvement
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For-profit businesses are not eligible for the Main Street Innovation Fund grant.
- Sole proprietorships
- Partnerships
- Corporations
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The eligible geographic zone for this grant is exclusively within the city of Toronto.
- Projects must be located within Toronto.
- Projects located outside of Toronto are not eligible.
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The Main Street Innovation Fund evaluates applications based on their potential to encourage innovation, support new projects within Toronto's main street business community, and showcase scalable solutions to local challenges.
- Encouragement of innovation within the main street business model
- Support for new projects within Toronto’s main street business community
- Expansion of community improvement strategies available to Toronto’s main street business community
- Showcase of innovative, scalable solutions to challenges faced by Toronto’s main street business community
- Potential to pilot highly creative and exceptional projects in the city of Toronto
- Contribution of a minimum of $100,000 towards the total project cost for Legacy Projects
- Significant contribution to the main street business recovery of the proposed location for Legacy Projects
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The Main Street Innovation Fund in Toronto finances innovative solutions to revitalize local businesses and supports projects through significant grants.
- Managed by the City of Toronto and funded by the Government of Canada through the Federal Economic Development Agency for Southern Ontario.
- Aims to boost main street business vibrancy through various community projects.
- Offers grants ranging from $25,000 to $100,000 for eligible projects.
- Currently, applications are closed, and updates are provided via the BusinessTO newsletter.
- Eligible applicants include Toronto's BIAs and not-for-profit organizations with strong business community links.
- For-profit businesses are not eligible to apply.
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mif@toronto.ca
Apply to this program
Main Street Innovation Fund Summary
The City of Toronto's Main Street Innovation Fund offers grants to Business Improvement Areas (BIAs) and not-for-profit organizations to support innovative solutions for local challenges within the main street business community, with the goal of fostering economic recovery and revitalization. This fund encourages creativity and experimentation in areas such as community placemaking, technology improvements, and policy planning, with grants ranging from $25,000 to $100,000 available.
Detailed Explanation of the Main Street Innovation Fund
The City of Toronto's Main Street Innovation Fund is a significant initiative aimed at revitalizing and supporting the local business communities in Toronto through innovative projects. Funded by the Government of Canada through the Federal Economic Development Agency for Southern Ontario, this grant program represents a critical opportunity for Business Improvement Areas (BIAs) and not-for-profit organizations to test new and creative solutions to local business challenges.
Objectives of the Main Street Innovation Fund
The primary objective of the Main Street Innovation Fund is to foster innovation within Toronto's main street business model. This will be achieved by encouraging unique projects that aim to support the business community's recovery, increase main street vibrancy, and provide scalable solutions to local challenges. The overarching goals include:
- Encouraging innovation within the main street business model.
- Supporting new projects within Toronto’s main street business community.
- Expanding the range of community improvement strategies available.
- Showcasing innovative, scalable solutions to challenges faced by the main street business community.
- Piloting highly creative and exceptional projects in Toronto.
Funding Details
The Main Street Innovation Fund offers different levels of funding based on the project scope and impact:
- Standard Grants: $25,000 and $50,000 are available for standard innovative projects meeting the eligibility requirements.
- Legacy Project Grants: Up to $100,000 is available for projects that meet the more stringent Legacy Project criteria, which include demonstrating a significant contribution to the main street business recovery of the proposed location and the ability to contribute a minimum of $100,000 to the project cost through financial and in-kind support.
Eligibility Criteria
To be eligible for the Main Street Innovation Fund, applicants must meet the following criteria:
- Be a Toronto-based Business Improvement Area (BIA) or a not-for-profit organization such as a business association or registered charity with strong local business involvement.
- The project must aim to support or stimulate the main street business community in Toronto.
It's important to note that for-profit businesses, including sole proprietorships, partnerships, and corporations, are not eligible to apply for this fund.
Eligible Projects
The fund encourages a wide range of projects, as long as they align with the overarching goal of main street business recovery and innovation. Here are some examples of eligible projects:
- Main Street Activations: Initiatives that activate the main street through events, activities, or installations that draw people to the area and stimulate economic activity.
- Community Placemaking: Projects that improve the physical or social environment of the main street, making it a more appealing place for businesses and consumers.
- Community Planning and Policy Making: Development and implementation of new policies or strategies that support main street businesses.
- Technology Improvements: Adoption of new technologies that improve business operations or customer engagement.
Legacy Project Criteria
For a project to qualify for funding under the Legacy Project category, it must go beyond the basic requirements and demonstrate exceptional innovation and impact. Specifically, it must meet the following criteria:
- Be a new, never-tested main street innovation.
- Show the ability to contribute at least $100,000 towards the total project cost, through a combination of financial and in-kind contributions. In-kind contributions, such as volunteer hours, can account for up to 50% of the matching contributions, or 25% of the total project budget.
- Demonstrate a significant contribution to the main street business recovery in the proposed location.
Ineligible Projects
Certain types of projects do not qualify for funding under this program, including but not limited to:
- Projects eligible for other City of Toronto grants, such as the Streetscape Improvement Program, Outdoor Mural & Street Art Program, or the Streetscape Master Plan Program.
- Projects located outside of Toronto.
Success Stories of Past Recipients
A couple of notable examples highlight the impact of the Main Street Innovation Fund:
- Art Vessel by Uma Nota Culture: This initiative transformed a simple shipping container parked on the street into a vibrant studio and exhibition space where local artists could participate in residencies and showcase their creative work, thereby enriching the local cultural landscape.
- Scarborough Arts and Eat More Scarborough: Collaborating with multiple partners, these organizations developed the Culinary Everywhere! Tour Guide Training. This initiative supported 20 local restaurants by offering five unique tours in Toronto’s East End, thus boosting local tourism and business activity.
These success stories exemplify how the fund can be used to support creative and high-impact projects that foster community engagement and economic growth.
Application Process
Currently, the application process for the Main Street Innovation Fund is closed. Prospective applicants are encouraged to subscribe to the BusinessTO newsletter for updates on future rounds of funding. For additional questions or clarifications, interested parties can contact the Main Street Innovation Fund project manager via email at mif@toronto.ca.
Conclusion
The Main Street Innovation Fund represents a vital resource for Business Improvement Areas and not-for-profit organizations looking to revitalize their local business communities through innovative and creative solutions. With the potential for significant financial support, this fund provides an excellent opportunity to pilot new ideas, collaborate with local businesses, and make a measurable impact on Toronto’s main street economy.