This program is designed to help your business grow and succeed in the green economy. You can receive non-repayable seed funding of up to $30,000. This means you don’t have to pay it back, unlike traditional loans. Additionally, you will get up to 40 hours of expert business advisory support. This can help you with growth strategies, talent attraction, and market diversification.

By participating, you will not only secure funding but also gain access to a network of experienced professionals. They will guide you through challenges and help you develop new or redesigned green products, services, or technologies. This support can position your business for long-term success and sustainability. The application process is straightforward, and your business qualifies, making it an excellent opportunity to future-proof your operations and contribute to a greener economy.

Type of Financing:

• Non-repayable grant money (seed funding) is provided to eligible businesses.

Repayment Terms and Interest Rates:

• The grant money does not need to be repaid.
• No interest rates are applicable as it is a non-repayable grant.

Eligible Expenses:

• Funds can be used to develop new green products, services, processes, and technologies or redesign existing ones to reduce environmental impact.

Ineligible Expenses:

• The funds cannot be used for purposes other than those related to sustainable and green recovery initiatives.

Fees:

• There are no fees associated with the non-repayable grant money provided by the program.

This program offers your business a non-repayable grant of up to $30,000. You can use this money to create or improve green products, services, processes, or technologies. The goal is to help your business reduce its environmental impact.

In addition to the grant, you will receive up to 40 hours of expert business advisory support. This support covers areas like growth strategies, talent attraction, investment raising, market diversification, and product development. These experts will help you tackle challenges and move your business forward.

This program is a great opportunity for your business to grow while contributing to a greener economy. The grant money does not need to be paid back, and the expert support can provide valuable insights to help your business succeed.

To apply for the program, follow these steps:

1. Register for an Information Session:

• Attend a virtual information session to learn more about the program and ask questions. Register for an upcoming session through the provided links.

2. Gather Required Documentation:

• Prepare the following documents:
  • Business plan
  • Financial statements
  • Proof of incorporation (federal or Ontario)
  • Description of the green product, service, process, or technology you plan to develop or redesign
  • Details on how your project will contribute to a sustainable and green recovery

3. Contact Your Regional Innovation Centre:

• Reach out to your local Regional Innovation Centre for guidance and support during the application process. They can provide valuable insights and answer any specific questions you may have.

4. Complete the Online Application Form:

• Fill out the online application form available on the program’s website. Ensure all required fields are completed accurately and thoroughly.

5. Submit Your Application:

• Review your application to ensure all information is correct and all required documents are attached. Submit the application through the designated online portal.

6. Await Notification:

• After submission, wait for the notification regarding the status of your application. Successful applicants will be notified in May, and the full list of recipients will be announced publicly in Summer 2023.

7. Prepare for Due Diligence:

• If your application is successful, be prepared to engage in the due diligence phase. This may involve providing additional information or clarifications as requested by the program administrators.

8. Participate in Program Activities:

• Once accepted, engage in the program’s activities, including progress updates, business advisory support, and other scheduled events. This will help you maximize the benefits of the program and achieve your business goals.