FedDev Ontario — Economic Development Initiative (Southern Ontario) — Not-For-Profit
Highlights
This program is designed for your business to thrive. It offers non-repayable contributions of up to $500,000 per year to support projects that drive economic growth and innovation in Francophone communities. This funding can help you diversify your business, develop new strategies, and adopt cutting-edge technologies.
Key Benefits:
- Economic Diversification: Implement growth strategies tailored to your region.
- Business Development: Increase management capacity, reskill workers, and adopt digital technologies.
- Strategic Planning: Enhance the competitiveness of your community and small- to medium-sized enterprises.
By participating, you can access up to 70% of project costs covered by FedDev Ontario, making it easier to undertake significant projects without the financial burden. This program is a straightforward way to secure substantial funding, allowing you to focus on expanding your services and products beyond your current operations. Reach out today to learn more and start your application process.
Financing Details
Type of Financing: Non-Repayable Contribution
Repayment Terms and Interest Rates:
- This is a non-repayable contribution, meaning you do not need to pay back the funds.
Eligible Expenses:
- Economic Development and Diversification: Projects that address the needs of Francophone communities, including region-specific growth strategies.
- Business and Economic Development: Activities that foster economic growth in industry sectors such as manufacturing and information technology. This includes increasing business management capacity, reskilling or training workers, and adopting digital technologies.
- Strategic Community Economic Planning: Projects that enhance the economic base and competitiveness of Francophone communities and small- and medium-sized enterprises.
Ineligible Expenses:
- Funds cannot be used for day-to-day operations or activities that are already funded.
- Incremental activities must increase the services and/or products of an organization beyond its current operations.
Fees:
- There are no fees associated with this program.
Qualifications
- Must be an incorporated not-for-profit organization.
- Must be located in southern Ontario.
Must provide programs or services in French to Francophone communities.
Eligible types of organizations:
- Community and economic development organizations.
- Not-for-profit organizations and associations.
- Post-secondary institutions offering full-time programs in French.
Disqualifications:
- For-profit organizations.
- Organizations not located in southern Ontario.
- Organizations that do not provide services in French to Francophone communities.
Description
This program offers your business a chance to receive up to $500,000 per year in non-repayable funding. This money can help you with projects that drive economic growth and innovation in Francophone communities in southern Ontario.
You can use the funds for:
- Economic development and diversification projects, such as implementing growth strategies specific to your region.
- Business and economic development activities, like increasing business management capacity, reskilling workers, or adopting digital technologies.
- Strategic community economic planning to enhance the competitiveness of your community and small- and medium-sized enterprises.
Funding conditions:
- FedDev Ontario will cover up to 70% of eligible project costs, while your business must contribute at least 30%.
- The total government assistance cannot exceed 100% of the project costs.
This program is a great opportunity to boost your business and support your community’s economic development.
Program Steps
Contact FedDev Ontario: Reach out to a bilingual officer by email at [email protected] or call 1-866-593-5505 to request an application form and get more information.
Prepare Documentation: Gather the necessary documents to support your application. You will need:
- Proof of incorporation
- Description of your organization and its programs or services in French
- Detailed project proposal, including objectives, activities, and expected outcomes
- Budget breakdown and funding sources
- Financial statements for the past two years
- Letters of support from community partners, if applicable
Develop a Project Proposal: Clearly outline your project, focusing on how it will contribute to economic diversification, business development, or strategic community economic planning in Francophone communities. Ensure your proposal highlights incremental activities beyond your current operations.
Complete the Application Form: Fill out the application form provided by FedDev Ontario. Make sure all sections are completed accurately and thoroughly.
Submit the Application: Send your completed application form and all supporting documents to FedDev Ontario by the specified deadline. Ensure you follow any specific submission instructions provided by the officer.
Follow Up: After submission, stay in contact with FedDev Ontario for any updates or additional information requests. Be prepared to provide further details or clarification if needed.
Await Decision: Wait for the review process to be completed. FedDev Ontario will notify you of the decision and any next steps if your application is approved.