Agri-Tech Innovation Initiative : Stream 2
Highlights
This program presents a unique opportunity for your agri-food business to thrive through innovation and technology. By applying, you'll receive up to $100,000, covering 35% of eligible expenses. This funding allows you to invest in new or modified equipment and processes—think automation, robotics, and digitization—to boost your growth and productivity.
What’s in it for you? Not only does this funding not require repayment, but it also positions your business to stay competitive in a rapidly evolving market. Imagine improving your operations and enhancing your bottom line without the financial burden of a loan.
With no limits on revenue or employee numbers, this initiative is accessible to businesses of all sizes, making it easier than ever to embrace innovation. This is your chance to unlock the potential of your business and lead the way in the agri-food sector.
Financing Details
Type of Financing
This program offers grant funding. You can receive up to 35% cost-sharing for your eligible project expenses. The maximum amount you can access is $100,000, which means that you should plan for eligible project costs of at least $100,000 to take full advantage of this opportunity.
Repayment Terms and Eligible Expenses
Since it’s a grant, you won’t need to repay the funds. There are no interest rates to worry about either. Eligible expenses include investments in new or modified commercial equipment and technology aimed at boosting innovation. Think of things like automation, robotics, and digitization within your manufacturing processes.
Restrictions and Fees
The funds cannot be used for expenses unrelated to eligible project activities. Make sure to avoid using them for daily operational costs or non-project-related purchases. There are no fees associated with applying for or receiving the grant, making it a straightforward option for enhancing your business without hidden costs.
Qualifications
- Location: Business must be located in Ontario.
- Sector: Must operate within the agri-food sector.
- Eligible Activities: Projects should involve deploying new or modified commercial equipment and technology to enhance production or advanced manufacturing processes.
- Cost Eligibility: Eligible expenses must be $100,000 or more.
Financial Aid Cap: Up to $100,000 in financial aid is available.
Disqualifications:
There are no specific disqualifications mentioned in the context. All groups and legal structures are applicable, and there are no minimum or maximum requirements for employees or company revenue.
Description
This program is designed to help boost growth and productivity in your agri-food business through innovation and technology. By utilizing new or modified equipment and processes, you can enhance your operations significantly. Whether it’s automation, robotics, or digitization, the initiative supports projects that bring fresh ideas to life.
You can receive up to $100,000 to assist with your projects. This funding can cover up to 35% of your eligible expenses, making it easier for you to invest in the technologies and upgrades necessary to stay competitive. There are no limits on company revenue or employee numbers, making this opportunity accessible for various business sizes.
The funding does not require repayment, which means you can use it to grow without worrying about returning the money later. This is a chance to enhance your processes and ultimately improve your bottom line.
Program Steps
Review Program Guidelines
Familiarize yourself with the program's eligibility criteria and funding details to ensure a clear understanding of what is required.Prepare Documentation
Gather the necessary documents for your application. You will need:- Business registration documents
- Financial statements (last two years)
- Project proposal outlining goals, innovative aspects, and expected outcomes
- Detailed budget for your project, including eligible expenses
- Evidence of past performance or existing processes that the project will enhance
Develop Your Project Proposal
Clearly outline how your project will use innovation and technology to improve your business processes. Include specific details on equipment or processes you plan to adopt.Complete the Application Form
Fill out the application form accurately and thoroughly. Ensure all requested information is provided, and cross-check for any errors or omissions.Submit Your Application
Submit your completed application along with the prepared documentation through the program’s designated submission platform.Follow Up
After submission, keep track of your application status. If necessary, reach out to the program's contact for updates or additional information needed.Prepare for Potential Review
Be ready to provide further information or clarification if the application is reviewed. Having a proactive mindset can help streamline the process.
