Canada Periodical Fund – Business Innovation
Highlights
This program is designed for businesses like yours, providing financial support to help you innovate and adapt to changing market conditions. By applying, you can access funds to develop new business models, improve your products or services, and expand into new markets. This support can significantly strengthen your financial viability and increase your market access.
What You Get
- Up to $500,000 in funding per project
- 75% coverage of total project-related costs
- Special measures for official-language minority, Indigenous, ethnocultural, and 2SLGBTQI+ periodicals
Benefits
- Support for innovation: Adopt new technologies or change your business model.
- Market expansion: Reach new audiences and improve your market presence.
- Professional development: Encourage the growth of the next generation of publishing professionals.
The application process is straightforward, and if approved, you will receive either a grant or a contribution, depending on your project. This funding can help you achieve measurable improvements and sustainable growth, making it a valuable opportunity for your business.
Financing Details
Type of Financing: Grant
Repayment Terms and Interest Rates:
- No repayment required: As this is a grant, there are no repayment terms or interest rates.
Eligible Expenses:
- Venue and equipment rental
- Specialized software licensing during the project period
- Promotion and marketing costs
- Professional fees (e.g., contractors)
- Training
- Paid internships
- Project-related travel expenses (must not exceed government rates)
- Translation costs
- Project-related salary costs of employees (must be less than 25% of total eligible project expenses)
- Project-related overhead costs (limited to a maximum of 10% of the total recommended amount)
- Costs of an audited financial report for the project (for contributions of $250,000 and over, or when required by the Program)
Ineligible Expenses:
- Ongoing operating expenditures (e.g., editorial or production costs, salaries not directly related to the project)
- Ongoing overhead expenditures (e.g., rent, insurance, utilities)
- Capital expenditures (e.g., computer or equipment purchase)
- Hospitality costs (e.g., meals and beverages served at an event, catering fees)
- Portion of GST or other taxes that are recoverable for reimbursement
- Costs related to awards, contests, sweepstakes, draws, incentives, and prizes
- Postage for Business Reply Mail
- Exchanges of services (e.g., advertising swaps)
- Meals, incidentals, and per diems
- Project contingency funds
- Dividends, bonuses, and other extraordinary compensation for company shareholders or owners
Fees:
- No fees associated: There are no fees associated with applying for or receiving this grant.
Qualifications
- Must be a private-sector entity, including corporations, not-for-profit organizations, partnerships, and sole proprietorships.
- Must be majority owned and controlled by Canadians.
- Must have its principal place of business in Canada.
- Must have published one or more eligible periodicals at the application deadline.
- Print magazines must:
- Be printed and appear in consecutively numbered or dated issues published under a common title.
- Be published at a frequency of between two and 56 issues per year, including special issues.
- Have an average circulation of no less than 250 and no more than 100,000 copies per issue.
- Paid circulation magazines must:
- Have at least 50% paid or request circulation, or a combination of these equaling 50%. (Indigenous, ethnocultural, official-language minority, and 2SLGBTQI+ magazines must demonstrate paid or request circulation but are not required to maintain the 50% threshold.)
- Have subscriptions sold at a minimum average subscription price of $12 per year or at a minimum average subscription price of $1 per copy.
- Have single copies and newsstand copies sold at a minimum average price of $1 per copy. (Indigenous, ethnocultural, official-language minority, and 2SLGBTQI+ magazines are not required to meet the minimum average price criteria.)
- Have either the subscription or the single-copy prices appear on the cover or in the masthead of the magazine.
- Have a total average circulation of the magazine during the 12-month reporting period that does not exceed 100,000 copies per issue.
Digital-only magazines must:
- Be available through a valid URL, an app for download, email format, or a third-party publishing platform.
- Maintain a regular publishing schedule in which the majority of editorial content changes at least twice during a 12-month period.
- Contain over 50% original editorial content not syndicated or reproduced from another website, publication, or previous issues of the same publication.
- Have articles date-stamped with identified authors.
- Maintain one of the following types of verifiable circulation over six months:
- Paid subscription service: priority will be given to periodicals that maintain an average of at least 250 subscribers.
- Email-based service: priority will be given to periodicals that maintain an average of at least 1,000 registered email recipients.
- Open access service: priority will be given to periodicals that maintain an average of at least 2,500 unique monthly visitors.
- Maintain an editorial function where the editor is named.
- Regularly present written editorial content from more than one person.
- Have generated a minimum revenue of $2,500 in the fiscal year (e.g., subscription revenues, advertising sales, etc.). (The minimum revenue does not apply to official-language minority, Indigenous, ethnocultural, and 2SLGBTQI+ digital publications.)
- Have Canadian editorial content levels that are above 80%. (At least 50% of content must be in written format and videos uploaded as content must have a corresponding text article to count towards eligibility.)
- Present a clearly displayed masthead or contact page that includes, at minimum, the names of the publisher and editor and how to contact the publication.
- Have a total revenue of less than $500,000 for the publication.
Disqualifications:
- Newspapers (daily or non-daily), in print or digital formats.
- Inserts to daily or non-daily newspapers.
- Websites, blogs, or digital periodicals that are branded to an individual.
- Loose leaf magazines.
- Free print magazines.
- Digital periodicals published by daily newspaper publishers, book publishers, or broadcasters.
- Newsletters.
- Academic journals.
- Magazines or digital periodicals produced by or for an organization that report primarily on the activities, or promote the interests, of the organization.
- Magazines or digital periodicals produced under contract by a non-Canadian organization on behalf of a Canadian client, or produced under contract by a Canadian organization for a non-Canadian client.
- Magazines or digital periodicals produced by or for an organization providing goods or services, where the main goal of the magazine is to facilitate or promote the sales of such goods and services.
- Professional association periodicals.
- Magazines or digital periodicals produced by or for a government, a Crown corporation, or a government agency.
- Magazines or digital periodicals whose editorial content is more than 50% reproduced or repeated from current or previous issues of the same publication or other publications.
- Magazines or digital periodicals with editorial content made up of more than 50% of the following, singly or in combination: listings, catalogues, magalogues, directories, guides, financial reports, schedules, calendars, timetables, comic books, cartoons, puzzles, games, horoscopes, or almanacs.
- Magazines or digital periodicals that contain or promote offensive content in the opinion of Canadian Heritage, namely:
- Material that is hate propaganda, obscene or child pornography, or any other illegal material, as defined in the Criminal Code.
- Pornography or other material having significant sexual content unless it can be demonstrated that there is an overriding educational or other similar purpose.
- Material that contains excessive or gratuitous violence.
- Material that is denigrating to an identifiable group.
- Any other similarly offensive material.
Description
This program offers your business financial support to innovate and adapt. You can receive up to $500,000 per year, covering up to 75% of your project costs. For start-up projects, you can get up to $10,000, covering 50% of costs.
Use the funds for:
- New business models or processes
- Improved products or services
- Market expansion
- Digitization of back issues
- Rebranding or redesign
- Mobile apps and web development
- Advertising and promotional campaigns
Eligible expenses include:
- Venue and equipment rental
- Specialized software
- Marketing costs
- Professional fees
- Training and internships
- Travel expenses related to the project
Conditions:
- You must cover at least 25% of the project costs.
- The project should be new and not part of your regular operations.
- You can request funding for projects lasting up to 24 months.
This program is a great way to boost your business's innovation and market reach. It helps you stay competitive and grow sustainably.
Program Steps
Read the Application Guidelines: Before starting your application, read the guidelines thoroughly to understand the requirements and process.
Gather Required Documentation: Prepare the following documents:
- Proof of legal status (if first-time applicant or recently incorporated)
- Quotes from consultants (if applicable)
- Written confirmation of in-kind contributions and other funding sources (if applicable)
- For not-for-profit organizations: Board resolution supporting the project and identifying the authorized signatory
- For print magazines: Digital copy of the last regular issue of the fiscal year and printing invoices or circulation report
- For digital-only magazines: Unlimited access to the digital magazine and web analytics report (URL address, demographic data, traffic during the financial year)
Develop a Project Plan: Outline your project, including objectives, timelines, and measurable results. Ensure the project aligns with the program’s objectives.
Create a Budget: Prepare a detailed budget showing all project-related expenses and funding sources. Ensure your budget is realistic and aligns with the scale of your project.
Submit Your Application: Complete the online application form through the Canada Periodical Fund – Business Innovation portal. Ensure all required documents are attached.
Await Acknowledgment: After submission, you will receive an acknowledgment of receipt via email.
Respond to Any Requests for Additional Information: Be prepared to provide additional documents or information if requested during the evaluation process.
Review Funding Decision: Once a decision is made, review the funding terms and conditions. If approved, you may need to sign a funding agreement.
Implement Your Project: Begin your project as outlined in your application. Ensure you track progress and expenses as required.
Submit Interim and Final Reports: Depending on the funding agreement, submit interim reports during the project and a final report upon completion. Include results, financial statements, and any other required documentation.