Innovation Growth Program
Highlights
The Innovation Growth Program (IGP) is designed to help your business commercialize new, innovative products and processes. By applying, you can receive a non-repayable grant of up to $100,000 to cover 50% of eligible project costs. This funding can significantly reduce the financial risks associated with bringing your innovations to market.
What You Get:
- Up to $100,000 in non-repayable grants
- Support for activities like building commercial-scale prototypes, testing, obtaining certifications, and market expansion
- Funding for net new Manitoba employee hires directly working on the project
Why Apply:
- Strengthen your financial position and accelerate growth
- Leverage private sector investment and create economic growth
- Create jobs and grow exports
The application process is competitive but straightforward, ensuring that only the strongest projects receive funding. This program is an excellent opportunity to secure the resources needed to scale your business and achieve long-term success.
Financing Details
Type of Financing: Non-repayable Grant
Repayment Terms and Interest Rates:
- No repayment required.
- No interest rates apply.
Eligible Expenses:
- Building commercial scale prototypes
- Testing and trial runs in an operational environment
- Obtaining certification and registering intellectual property
- Tooling required for prototyping
- Adapting commercially viable products for a new market
- Market development or expansion activities
- Commercial scale-up activities (e.g., testing, obtaining certifications, packaging, translation)
- Salaries and wages for net new Manitoba employees directly working on an approved project (capped at 50% of total funding received under IGP)
Ineligible Expenses:
- Advertising
- Land and buildings
- Equipment
- Owner salary or dividends
- Inventory
- Primary research and development
- Business registration and incorporation costs
- Costs for entertainment, meals, alcohol, lodging, or per diems
- Shipping expenses
- Professional dues, membership fees
- Financing charges and taxes
- Business plans
- Website development
- Costs not directly attributable to product development or commercialization
- Activities relating to productivity improvements
Fees:
- No fees associated with the program.
Qualifications
- Must be a for-profit, taxable Canadian Controlled Private Corporation.
- Must have a permanent establishment in Manitoba.
- Must pay at least 50% of total salaries and wages to Manitoba resident employees.
- Must have annual revenue of $15 million or less, or fewer than 100 full-time equivalent employees, including affiliates on a consolidated basis.
Must demonstrate owner investment of $25,000 in cash equity invested in the business prior to application.
Disqualifications:
- Not-for-profit organizations.
- Professional practices regulated by a governing body of the profession under an Act of the Legislature.
- Business operations primarily earning passive income.
- Crown corporations, municipalities, towns, and cities, or organizations owned or controlled by one of those groups.
- Businesses that qualify for other forms of Government of Manitoba financial assistance.
Description
This program offers your business a non-repayable grant of up to $100,000. This means you don’t have to pay it back. The grant will cover up to 50% of eligible expenses for your project.
You can use the grant for:
- Building commercial-scale prototypes
- Testing and trial runs
- Obtaining certifications
- Registering intellectual property
- Market development or expansion activities
Key benefits include:
- No repayment required: This grant is non-repayable, easing your financial burden.
- Support for innovation: Helps you bring new products or processes to market.
- Economic growth: Aims to create jobs and boost your business’s financial position.
To qualify, you must complete your project within one year. At least 50% of the project costs must come from non-government sources. This program is a great opportunity to reduce risks and accelerate your business growth.
Program Steps
Download the Application Form: Visit the official website and download the IGP Application Form in Word format.
Prepare Documentation: Gather the following documents:
- Most recent T2 tax return and year-end Financial Statement (balance sheet and income statement) for the last fiscal year.
- Current Balance Sheet and Income Statement (no older than three months).
- Proof of confirmed funding from all other sources, including government and non-government.
- Optional: Business plans, marketing plans, and market validation studies.
Complete the Application Form: Fill out the IGP Application Form with accurate and detailed information about your project.
Submit the Application: Email the completed IGP Application Form and all required supporting documents to [email protected] by the application closing date.
Pre-Screening: The department will perform a pre-screen of your application to ensure it is complete. You may be contacted if additional information is needed.
Evaluation: Your application will be evaluated against other proposals. A review panel and subject matter experts will assess the quality of your project, market potential, management capacity, commercialization plan, secured investments, and benefits to Manitoba.
Funding Agreement: If approved, you will enter into a funding agreement with Manitoba Economic Development, Investment, Trade and Natural Resources.
Project Implementation: Complete your project activities within one year of the application intake closing date. Ensure all expenses are incurred and paid as per the funding agreement.
Reimbursement: Submit satisfactory proof of payment for expenses incurred. Reimbursement will be based on the terms of the funding agreement.
Reporting: Annually, for six years, provide performance data to the department. This includes financial statement reviews and company-issued T4 information to measure overall company growth.