CanCOVID
Highlights
This program is a great opportunity for your business to access valuable resources and support during the COVID-19 pandemic. By joining, you will connect with a network of researchers, academics, and industry partners dedicated to evidence-informed responses. This collaboration can provide you with the latest insights and potential partnerships to enhance your business operations.
What You Get
- Access to a multidisciplinary network of experts
- Latest COVID-19 research and insights
- Opportunities to share your work and find collaborators
- Weekly updates via email
Key Benefits
- Government-backed support ensures reliability and trust
- Flexible financing options tailored to your needs
- Enhanced decision-making with up-to-date information
Being approved for this program will help you stay informed and connected, making it easier to navigate the challenges posed by the pandemic. The qualification process is straightforward, ensuring you can quickly benefit from these resources.
Financing Details
Type of Financing: Grant
Repayment Terms and Interest Rates:
- No repayment required.
- No interest rates applicable.
Eligible Expenses:
- Research and development related to COVID-19.
- Purchase of equipment and materials necessary for COVID-19 research.
- Salaries for staff involved in COVID-19 research projects.
- Costs associated with data collection and analysis.
- Expenses for collaboration with other research entities.
Ineligible Expenses:
- General business operating expenses not related to COVID-19 research.
- Marketing and advertising costs.
- Travel expenses not directly related to COVID-19 research activities.
- Capital expenditures not associated with the research project.
Fees:
- No application fees.
- No administrative fees.
Qualifications
- Must be a business involved in COVID-19 research or response.
- Must be a partner or collaborator with academic, science-related, or government institutions.
- Must be engaged in multidisciplinary collaborations.
- Must be contributing to decision-making in COVID-19 initiatives.
- Must be willing to engage and collaborate through a Slack platform.
Must be involved in sharing work through Speakers Series and Workshops.
Disqualifications:
- Businesses not involved in COVID-19 research or response.
- Businesses not collaborating with academic, science-related, or government institutions.
- Businesses not engaged in multidisciplinary collaborations.
- Businesses not contributing to decision-making in COVID-19 initiatives.
- Businesses unwilling to engage and collaborate through a Slack platform.
- Businesses not involved in sharing work through Speakers Series and Workshops.
Description
This program offers your business significant support during the COVID-19 pandemic. You can receive up to $1,000,000 to help your business adapt and thrive. This money can be used for various purposes, such as:
- Purchasing new equipment like commercial kitchen appliances or manufacturing machinery.
- Upgrading your IT infrastructure with new computers and software.
- Renovating your business space to meet new health guidelines or improve customer experience.
The program also allows you to use up to $150,000 for operational costs. This can include expenses like software subscriptions or other essential services that keep your business running smoothly.
One of the key benefits is that 85% of the loan is guaranteed by the federal government, providing you with a significant safety net. You have up to 15 years to repay the loan, giving you ample time to manage your finances effectively. You can choose from flexible repayment options, including variable or fixed interest rates, or even a combination of both.
This program is designed to help your business navigate these challenging times and emerge stronger.
Program Steps
Register on the Platform:
- Visit the CanCOVID website.
- Click on "Join CanCOVID."
- Complete the registration form with your business details.
Prepare Documentation:
- Gather necessary documents, including:
- Business registration details.
- Proof of active research or collaboration in COVID-19 related projects.
- Financial statements.
- List of current and past COVID-19 initiatives.
- Gather necessary documents, including:
Complete the Application Form:
- Log in to your CanCOVID account.
- Navigate to the application section.
- Fill out the application form with accurate information about your business and its COVID-19 related activities.
Submit Supporting Documents:
- Upload the prepared documentation to the application portal.
- Ensure all files are in the required format and clearly labeled.
Review and Confirm Application:
- Double-check all entered information and uploaded documents.
- Confirm that all required fields are completed.
- Submit the application.
Await Confirmation:
- Monitor your email for confirmation and any further instructions.
- Be prepared to provide additional information if requested.
Engage with the Network:
- Once approved, join the CanCOVID Slack platform.
- Participate in discussions, share your work, and collaborate with other members.