C/AV and Smart Mobility — Stream 2
Highlights
This program is designed for businesses like yours that are involved in connected and autonomous vehicle (C/AV) and smart mobility technologies. By participating, you can receive up to $1,000,000 in co-investment to develop, test, and demonstrate your innovative projects. This funding can significantly reduce your financial burden and accelerate your project's timeline.
What You Get:
- Up to $1,000,000 in funding over 24 months
- Opportunities to showcase your technology to potential customers
- Enhanced relationships with researchers for extended R&D
- Public and private partnerships for greater commercial opportunities
Why Apply:
- Commercialization of your Ontario-made technologies
- Marketable solutions to current transportation challenges
- Improved road safety and reduced environmental impact
- Easy qualification with a straightforward application process
Being approved for this program will not only provide substantial financial support but also position your business as a leader in smart mobility solutions. This is a unique opportunity to bring your innovations to market and make a significant impact.
Financing Details
Type of Financing: Co-Investment
Repayment Terms and Interest Rates:
- This program does not involve traditional loans, so there are no repayment terms or interest rates. Instead, it offers co-investment funding.
Eligible Expenses:
- Technology development
- Demonstration projects
- Product/service validation
- Testing
- Piloting
Ineligible Expenses:
- Basic technology research
- Feasibility studies
Fees:
- There are no fees associated with this co-investment program.
Qualifications
- Must be a small or medium-sized enterprise (SME) with fewer than 500 global, full-time employees.
- Must have operations in Ontario and carry out the project in Ontario.
- Must have at least one partner, which can include:
- Small and medium enterprises (SMEs)
- National and multinational enterprises (NEs and MNEs)
- Academic institutions (as clients only)
- Municipalities
- Indigenous communities
- Not-for-profit organizations representing industry
- Crown Corporations
- Transit Authorities
- Project must have a total budget of up to $3,000,000 over 24 months.
- Project must be at Technology Readiness Level 3-9.
- Project activities must include technology development, demonstration, product/service validation, testing, and piloting.
- Must demonstrate close collaboration and scalable outcomes with high potential for commercialization, strong commercial pull, competitive advantage, and alignment with intended program benefits.
Must include demonstration of actual products that can be showcased in Ontario at events, on the road, to OCI and its partners, and/or at customer sites.
Disqualifications:
- Projects intended to prove feasibility or for basic technology research.
Description
This program offers your business up to $1,000,000 in funding for developing and demonstrating connected and autonomous vehicle (C/AV) and smart mobility technologies. You can use this money for projects involving mass light vehicles, heavy-duty vehicles, transportation infrastructure, intelligent transportation systems, and transit-supportive systems.
The funding must be matched by a minimum 2:1 contribution from you or your private sector partners. This means if you receive $1,000,000, you need to contribute at least $2,000,000. The program supports projects over a maximum of 24 months, giving you ample time to develop, test, and showcase your innovations.
This is a great opportunity to commercialize your Ontario-made technologies and demonstrate them to potential customers. You can also build valuable relationships with researchers and other partners, leading to marketable solutions and public/private collaborations. This program not only helps your business grow but also contributes to increased road safety and reduced environmental impact.
Program Steps
Complete the Client Intake Form: Start by filling out the client intake form available on the program's website. This form helps initiate the process and ensures you are connected with an OCI Business Development Manager (BD).
Consult with an OCI Business Development Manager: After submitting the intake form, an OCI BD will contact you. They will discuss your project, provide guidance, and assist you throughout the application process.
Prepare Required Documentation: Gather the necessary documents to support your application. These include:
- Business plan
- Financial statements
- Project proposal
- Letters of support from partners
- Detailed budget and funding plan
- Technology Readiness Level (TRL) assessment
Submit an Expression of Interest (EOI): Work with your OCI BD to complete and submit the EOI. This initial step outlines your project and its alignment with the program's objectives.
Review Program Guidelines and Reference Documents: Familiarize yourself with the Program Guidelines, OCI Funding Agreement, Eligible Expenditures Guide, Full Proposal Questionnaire, Letter of Support Template, and Data and Information Sharing Protocol (DISP) documents. These are available on the OVIN Resource Document Page.
Develop a Full Proposal: If your EOI is accepted, you will be invited to submit a Full Proposal. This comprehensive document should detail your project plan, expected outcomes, and how it meets the program's criteria.
Submit the Full Proposal: Work closely with your OCI BD to finalize and submit the Full Proposal. Ensure all required information and documentation are included.
Await Review and Approval: Once submitted, your Full Proposal will be reviewed. The review process may involve additional discussions or requests for more information.
Receive Funding and Begin Project: If approved, you will receive co-investment funding. Collaborate with your partners to start the project, ensuring all activities align with the program's goals and timelines.
Maintain Ongoing Communication: Keep in regular contact with your OCI BD throughout the project. They will provide oversight and support to ensure successful completion and compliance with program requirements.