This program is designed for businesses like yours that are ready to grow, scale, or innovate. By connecting with an Innovation Advisor, you gain access to expert guidance from former entrepreneurs and private-sector professionals who understand the challenges and opportunities in growing a business. They can help you navigate and leverage various government programs and services, from financing to technical advice and foreign market expertise.

Why should you apply?

• Expert advice tailored to your business needs
• Access to a wide network of contacts and resources
• Comprehensive support for growth, innovation, and market expansion

What’s in it for you?

• Customized financing options that may be more flexible and advantageous than traditional loans
• Strategic planning assistance to help you achieve your business goals
• Easier qualification process with support from advisors who understand your industry

By getting approved, you can accelerate your business growth, improve your competitive edge, and expand into new markets with confidence. The process is straightforward, and the benefits are substantial, making it an excellent opportunity for your business.

This program is designed to help your business grow and succeed. You can receive up to $1,000,000 in funding. This money can be used for various purposes, such as buying equipment, improving your rented space, or even covering operational costs.

Here’s how you can use the funds:

• Up to $500,000 for purchasing equipment or renovating your business space.
• Up to $150,000 for software or other essential business expenses.

The federal government guarantees 85% of the loan, providing a significant safety net for your business. This means you have less risk when borrowing.

Flexible repayment options are available. You can choose between a variable interest rate, a fixed rate, or a combination of both. Additionally, you have up to 15 years to repay the loan, giving you ample time to manage your finances effectively.

1. Contact an Innovation Advisor:

• Call toll-free in Canada at 1-833-201-4358 or TTY: 1-866-694-8389.
• Alternatively, send your details through the provided contact form here.

2. Schedule an Initial Consultation:

• Arrange a meeting with an Innovation Advisor to discuss your business needs and goals.
• Prepare to discuss your business's growth plans and any specific challenges you face.

3. Prepare Required Documentation:

• Gather the following documents:
  • Business plan
  • Financial statements (e.g., balance sheet, income statement)
  • Proof of incorporation
  • Details of intended use of funds (e.g., quotes for equipment, project plans)
  • Any relevant market research or feasibility studies

4. Develop a Growth Strategy:

• Work with your Innovation Advisor to create a tailored growth strategy.
• Identify the government programs and services that best fit your business needs.

5. Submit Your Application:

• Complete the application forms provided by your Innovation Advisor.
• Attach all required documentation.
• Ensure all information is accurate and complete before submission.

6. Follow Up and Provide Additional Information:

• Be available to answer any follow-up questions or provide additional documentation if requested.
• Stay in contact with your Innovation Advisor to track the progress of your application.

7. Receive Approval and Begin Implementation:

• Once your application is approved, review the terms and conditions of the support provided.
• Begin implementing the growth strategy with the assistance and resources provided by the program.

8. Monitor Progress and Report Outcomes:

• Regularly monitor the progress of your growth initiatives.
• Report outcomes and milestones to your Innovation Advisor as required by the program guidelines.

9. Utilize Ongoing Support:

• Continue to leverage the expertise and network of your Innovation Advisor.
• Seek additional guidance and resources as your business evolves and grows.