Triple-P
ON, Canada
Money for innovation initiatives in northern Ontario
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateNovember 14, 2019
- grant_single|closingDateOctober 29, 2023
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|closed
grant_single_labels|preview
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.
grant_single_labels|projects
This grant is available to companies located in specific districts within Ontario to support regional economic development. Only businesses operating in these areas can apply for funding.
- Nipissing
- Timiskaming
- Parry Sound
- Muskoka
grant_single|admissibleProjectsExample
$9,000
Calgary
Acquisition of industrial-grade sewing machines to boost garment production capacity and reduce waste
$7,500
Vancouver
Implementation of CRM software to enhance client relationship management and market competitiveness
$10,000
Montreal
Procurement of energy-efficient bakery ovens to reduce energy waste and improve production
$10,000
Toronto
Purchasing advanced 3D printers for prototype development and increased production efficiency
$10,000
Ottawa
Upgrading laboratory equipment for new product testing and development to reduce time-to-market
$10,000
Winnipeg
Installation of automated packaging machines to enhance production speed and market expansion
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the applicant's profile and operational location.
- The innovative applicant must be a for-profit entity, registered as a sole proprietor, partnership or corporation.
- The applicant must be registered, located and operating in the districts of Nipissing, Timiskaming, Parry Sound or Muskoka.
- The program is not intended to support businesses operating as distributors, resellers, or wholesalers.
grant_eligibility_criteria|who_can_apply
Eligible companies for the Triple-P Program grant must be for-profit entities registered as sole proprietors, partnerships, or corporations and located in the districts of Nipissing, Timiskaming, Parry Sound, or Muskoka. The program does not support businesses operating as distributors, resellers, or wholesalers.
- For-profit entities
- Registered as sole proprietors, partnerships, or corporations
- Located in Nipissing, Timiskaming, Parry Sound, or Muskoka
- Not operating as distributors, resellers, or wholesalers
grant_eligibility_criteria|who_cannot_apply
This grant excludes certain companies and industries due to their status or main activity. The restrictions aim to ensure that funds are directed toward strategic sectors aligned with the grant's objectives.
- Businesses operating as distributors, resellers, or wholesalers.
- Companies not registered, located, and operating in the districts of Nipissing, Timiskaming, Parry Sound, or Muskoka.
grant_eligibility_criteria|eligible_expenses
The Triple-P Program supports for-profit businesses in acquiring equipment or software that enhances innovative commercial products, processes, or services. Eligible projects focus on various outcomes including efficiency, production capacity, waste reduction, and competitiveness enhancements.
- Projects aimed at increasing operational efficiency.
- Initiatives to expand production capacity.
- Efforts to reduce waste within company operations.
- Activities enhancing the competitiveness of products or services.
- Projects facilitating entry into new geographic or product markets.
- Development of new products to drive innovation.
grant_eligibility_criteria|zone
This grant program covers expenses directly related to purchasing equipment or software for innovative projects with specific development outcomes.
- Purchase of equipment related to productivity improvements.
- Purchase of software for prototype development.
- Costs of machinery for process improvements.
grant_single_labels|criteria
There are evaluation and selection criteria for this grant:
- Applicant must be a for-profit entity registered as a sole proprietor, partnership, or corporation
- Applicant must be located and operating in the districts of Nipissing, Timiskaming, Parry Sound, or Muskoka
- Emphasis on job creation, revenue increase, and economic growth
- Projects must fall under the categories of Productivity, Prototype, or Process improvements
grant_single_labels|register
Here are the steps to apply and submit an application for the Triple-P grant:
- Step 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.
- Step 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.
- Step 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.
- Step 4: Receive Feedback
- Await feedback from IION, who may provide comments or suggested revisions to improve your application.
- Step 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.
grant_single_labels|otherInfo
Below is extra important information for this grant:
- Applications must be received before any costs related to the project are incurred.
- Reimbursement is contingent upon the submission of a final invoice and proof of payment within a six-month period post-approval.
- Projects must be independent and distinct to qualify for successive funding if a company applies multiple times.
- The program is intended to spur economic development with an emphasis on job creation and revenue growth.
Apply to this program
Boosting Innovation with the Triple-P Grant Program
The Triple-P Grant Program is tailored to foster economic development by providing financial support for for-profit companies investing in innovative equipment and software purchases. This program prioritizes projects that enhance productivity, develop prototypes, and improve processes, ultimately strengthening the competitive landscape.
In-depth Overview of the Triple-P Program's Support Mechanism
The Triple-P Program stands as a pivotal financial resource for businesses located in specific districts of Ontario, aiming to drive innovation and economic advancement by offering grants to support up to 50% of eligible costs. With a focus on sectors that involve productivity enhancements, prototype developments, and process improvements, the program targets projects that substantively contribute to increased efficiency, production capacity, and reduced waste.
Eligible applicants include for-profit entities that are registered, located, and operational within the Nipissing, Timiskaming, Parry Sound, or Muskoka districts. These companies must exhibit innovative potential and cannot be entities operating merely as distributors, resellers, or wholesalers. As the program aims to cultivate economic resilience, emphasis is placed on applicants that demonstrate the potential to create jobs, elevate revenue streams, and invigorate the local economy. This initiative not only seeks to back individual company growth but also to bolster regional economic health and competitiveness.
The grant is available at four distinct funding levels, from $2,500 up to $10,000, with higher funding contingent on greater initial project spending before tax. This structured financial support allows businesses to invest in significant innovative projects without shouldering the entire financial burden, encouraging broader participation and supporting multiple project cycles. Companies are encouraged to utilize this support for distinct projects, with the possibility of reapplying after completing and claiming each project. This cycle of support fosters a progressive path to continual innovation and development.
Given the program’s structured evaluation and application process, interested businesses must ensure timely application submissions, adhering to monthly deadlines to increase their chances of receiving tailored feedback. It is highly recommended to consult with the Innovation Initiatives Ontario North (IION) to align project proposals closely with the program's objectives and enhance the application's strength.
This proactive approach not only aids companies in refining their proposals but ensures that each dollar spent maximizes potential returns and impact. Moreover, the allocation and utilization of funds within the stipulated timeframe underscore the program's commitment to disciplined project management and strategic resource deployment.
Through the Triple-P Program, enterprises are empowered to tackle the challenges of modern business environments by leveraging financial support to harness innovative ideas and transform them into tangible outcomes. This grant serves as a catalyst for forward-thinking projects throughout the region, providing an indispensable platform for growth and sustainability.
