Triple-P
Last Update: July 22, 2025
ON, Canada
Money for innovation initiatives in northern Ontario
At a glance
Eligible Funding
- Max. $10,000
- Up to 50% of project cost
Timeline
- Open Date : January 1, 2024
- Closing date : July 8, 2024
Financing Type
Grant and Funding
Eligible Industries
- All industries
Funds Providers
Program status
Closed
Overview
Get a grant of $5,000, $7,500 or $10,000 to cover up to 50% of the costs of purchasing equipment or technology related to your innovative commercial product, process, or service in 1 of 3 categories: productivity, prototype, or process improvements.
Financing terms and conditions
- Funding covers up to 50% of eligible project costs, before tax.
- Grant amounts are structured by project size: $2,500 (minimum spend $5,000), $5,000 (minimum spend $10,000), $7,500 (minimum spend $15,000), or $10,000 (minimum spend $20,000).
- Funding is provided as reimbursement upon receipt of final invoices and proof of payment, to be completed within a six-month timeframe or by the program’s deadline.
Activities funded
- Implementation of projects to increase operational efficiency.
- Initiatives aimed at expanding production capacity.
- Activities focused on reducing waste within business processes.
- Projects designed to develop new products or enter new markets.
- Process improvements to strengthen overall business competitiveness.
Examples of admissible projects:
$ 10,000
Procurement of energy-efficient bakery ovens to reduce energy waste and improve production
$ 9,000
Acquisition of industrial-grade sewing machines to boost garment production capacity and reduce waste
$ 7,500
Implementation of CRM software to enhance client relationship management and market competitiveness
$ 10,000
Purchasing advanced 3D printers for prototype development and increased production efficiency
$ 10,000
Upgrading laboratory equipment for new product testing and development to reduce time-to-market
$ 10,000
Installation of automated packaging machines to enhance production speed and market expansion
Eligibility
- The applicant must be a for-profit entity registered as a sole proprietor, partnership, or corporation.
- The company must be registered, located, and operating in the districts of Nipissing, Timiskaming, Parry Sound, or Muskoka.
- The project must involve the purchase of equipment or software related to an innovative commercial product, process, or service.
- Emphasis will be placed on companies that demonstrate potential to create jobs, increase revenue, and contribute to economic growth.
Who is eligible?
- For-profit companies developing innovative commercial products, processes, or services
- Businesses registered and operating in the districts of Nipissing, Timiskaming, Parry Sound, or Muskoka
- Sole proprietorships, partnerships, or corporations
Who is not eligible
- Businesses operating as distributors.
- Companies whose main activity is reselling goods or products (resellers).
- Businesses functioning primarily as wholesalers.
Eligible expenses
- Costs for purchasing equipment directly related to the innovative commercial product, process, or service.
- Expenses for acquiring software that supports innovation within the business.
Eligible geographic areas
- Nipissing District
- Timiskaming District
- Parry Sound District
- Muskoka District
Selection criteria
- Potential of the project to create jobs.
- Demonstrated ability to increase revenue.
- Likelihood of contributing to economic growth.
How to apply
1
Initial Inquiry
Contact IION by calling Matthew at 705-845-0616 or by email at [email protected] to clarify program details and qualifying conditions.
2
Prepare Application
- Gather and prepare necessary documentation including details of your project, expected outcomes, and financial information.
- Ensure project costs comply with program criteria and minimum spend before tax is met for desired grant level.
3
Submit Application
- Complete the application form provided by IION before incurring project costs.
- Submit the application before the last working day of the month to be part of the monthly competitive review process.
- Send your application to the designated contact at IION for review and adjustments, if necessary, before final submission.
4
Receive Feedback
Await feedback from IION, who may provide comments or suggested revisions to improve your application.
5
Reimbursement Process
Upon project approval and completion within a 6-month period, submit final invoices and proof of payment for reimbursement processing by IION.
Additional information
- Applications are reviewed competitively each month, with a deadline on the last working day of the month.
- Approved projects must be completed within a 6-month period or by the program's deadline.
- Companies may use Triple-P funding multiple times for different independent projects.
- Applications must be received prior to incurring any project-related costs.
Apply to this program
Frequently Asked Questions about the Triple-P Program
Here are answers to the most common questions about the Triple-P. 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.
What is the Triple-P?
How much funding can be received?
What expenses are eligible under Triple-P?
What is the deadline to apply?
Is the Triple-P a grant, loan, or tax credit?
Who are the financial supporters of the Triple-P?
Who is eligible for the Triple-P program?
Who can I contact for more information about the Triple-P?
Where is the Triple-P available?
Are startups eligible for the Triple-P program?
Apply to this program