Global Market Development — IDM Fund
Highlights
This program is designed for businesses like yours to expand into international markets. It offers up to $15,000 in funding, covering 50% of your total costs for activities such as targeted sales trips and attendance at international market events. This financial support can significantly reduce your expenses while helping you grow your business globally.
Why apply?
- Financial Support: Up to $15,000 to cover half of your international activity costs.
- Streamlined Process: Simplified application and administration with pre-approved activities and fixed benchmarks for travel and accommodation.
- Growth Opportunities: Participation in international events can lead to measurable business and market development results.
Qualifying for this program is straightforward, and being approved can provide the boost your business needs to succeed on a global scale. Take advantage of this opportunity to expand your market reach with the support of government-backed funding.
Financing Details
Type of Financing: Tax Credit
Repayment Terms and Interest Rates:
- This is a tax credit, so there are no repayment terms or interest rates.
Eligible Expenses:
- Costs associated with participating in international activities.
- Targeted sales trips.
- Attendance at international market events.
Ineligible Expenses:
- Funds cannot be used for activities not directly related to international market development.
- General operational costs not associated with the specified activities.
Fees:
- There are no fees associated with applying for this tax credit.
Qualifications
- Must be an Ontario-based company.
- Must be involved in international activities that support company growth.
- Must aim to produce measurable business and market development results.
Must participate in targeted sales trips or attend international market events.
Disqualifications:
- Applications submitted by any method other than the Ontario Creates Online Application Portal (OAP).
- Companies not registered with the OAP.
Description
This program offers your business up to $15,000 to help you grow internationally. It covers up to 50% of the total costs for activities such as targeted sales trips and attending international market events.
Benefits include:
- Financial Support: Receive up to $15,000 to cover half of your expenses.
- Growth Opportunities: Use the funds for international activities that can expand your market reach and boost your business development.
- Streamlined Process: The application and administration process has been simplified, making it easier for you to access the funds.
This is a great chance for your business to explore new markets and increase your global presence with financial backing from the government.
Program Steps
Register Your Company:
- Visit the Ontario Creates Online Application Portal (OAP) at https://apply.ontariocreates.ca.
- Click on "Register" to set up your company's corporate information if you do not already have an account.
Prepare Documentation:
- Ensure you have the following documents ready:
- Detailed business plan.
- Financial statements.
- Proof of Ontario residency.
- List of targeted international activities (e.g., sales trips, market events).
- Budget for the proposed activities.
- Any other documents specified in the program guidelines.
- Ensure you have the following documents ready:
Review Program Guidelines:
- Read the Global Market Development Program Guidelines thoroughly to understand the requirements and any recent updates.
- Ensure you are aware of the pre-approved activities and benchmarks for travel and accommodation costs.
Attend an Information Session:
- Register for an online information session by completing the registration form before 5:00 pm on the day prior to the session.
- Attend the session to gain insights and ask any questions you may have.
Start Your Application:
- Log in to the OAP and find the Global Market Development program deadline on your dashboard.
- Click on "Start new application" and follow the onscreen instructions to complete the application form.
Submit Your Application:
- Ensure all required fields are completed and all necessary documents are uploaded.
- Submit your application through the OAP by the deadline (April 29, 2024, by 5:00 pm ET).
Technical Support:
- If you encounter any issues during the application process, email [email protected] for assistance.
Await Review and Approval:
- After submission, your application will be reviewed to ensure it meets all criteria.
- You may be contacted for additional information or clarification if needed.
Receive Funding:
- Upon approval, you will receive up to $15,000, capped at 50% of the total costs for all approved activities.
- Use the funds to participate in international activities that support your company’s growth and market development.
