Interactive Digital Media Fund — Concept Definition
Highlights
This program is designed for businesses like yours, offering significant financial support to create high-quality, original interactive digital media content. Whether you are in the early stages of concept development or ready to produce market-ready content, this program can provide the funding you need.
What You Get
- Concept Definition: Up to $50,000 for early-stage activities.
- Production: Up to $300,000 for creating market-ready content.
Benefits
- Non-refundable contributions: You receive up to 50% of eligible Ontario expenses.
- Flexibility: Funding is available for both non-linear (e.g., video games, mobile content) and linear (e.g., web series, video content) projects.
- Economic Impact: Your project will contribute positively to the Ontario economy.
Applying is straightforward, and the program is designed to be accessible. By securing this funding, you can focus on creating innovative content without the financial strain, giving your business a competitive edge.
Financing Details
Type of Financing: Tax Credit
Repayment Terms and Interest Rates:
- This is a non-refundable tax credit. There are no repayment terms or interest rates associated with this financing.
Eligible Expenses:
- Expenses related to the creation of high-quality, original interactive digital media content.
- For Concept Definition: Early-stage activities that prepare for full production.
- For Production: Activities related to creating a market-ready interactive or video content project.
Use of Funds:
- Funds can be used for:
- Video games
- Mobile content
- E-learning content
- XR experiences with substantial interactive content
- Digital publishing projects
- Web series
- Video content for online magazines
- XR experiences with minimal interactive content
Restrictions on Use of Funds:
- Funds cannot be used for:
- General business operations unrelated to the interactive digital media project.
- Non-digital media projects.
Fees:
- There are no fees associated with applying for or receiving this tax credit.
Qualifications
- Must be an Ontario-based business.
- Must be involved in creating interactive digital media content.
- Must be preparing for full production of a market-ready interactive content project.
- Must be creating content intended to be accessed in either a non-linear or linear fashion.
- Must have registered corporate information with the Ontario Creates Online Application Portal (OAP).
New companies and first-time applicants must contact Ontario Creates at least three weeks in advance to determine eligibility.
Disqualifications:
- Businesses not based in Ontario.
- Businesses not involved in interactive digital media content creation.
- Businesses not preparing for full production of a market-ready interactive content project.
- Businesses creating content not intended to be accessed in a non-linear or linear fashion.
- Businesses that have not registered their corporate information with the Ontario Creates Online Application Portal (OAP).
Description
The program offers your business a chance to receive funding for creating high-quality, original interactive digital media content. You can get up to $50,000 for early-stage activities (Concept Definition) and up to $300,000 for full production activities.
Here’s how the funding can help:
- Concept Definition: Use this funding to prepare your project for full production. This includes planning, research, and initial development.
- Production: Use this funding to create market-ready interactive or video content. This can be video games, mobile content, web series, or other digital media projects.
The money you receive is a non-refundable contribution, meaning you don’t have to pay it back. This is a great opportunity to bring your creative ideas to life and make a positive impact on the Ontario economy.
Program Steps
Register Your Company: Go to the Ontario Creates Online Application Portal (OAP) at https://apply.ontariocreates.ca and click on "Register" to create a user account. Ensure your company’s corporate information is registered with the OAP.
Attend an Information Session: Register for an Ontario Creates IDM Fund Information Session. Sessions are available for both Interactive Content (Non-Linear) and Video Content (Linear). Dates and times are provided on the Ontario Creates website.
Prepare Documentation: Gather the necessary documents to complete your application. These include:
- Business Plan
- Financial Statements
- Project Proposal
- Budget Template (specific to either Concept Definition or Production)
- Any additional supporting documents as outlined in the Ontario Creates IDM Fund Guidelines
Download and Complete Budget Template: Download the relevant budget template from the Ontario Creates website. Complete all relevant tabs in the budget template. Ensure accuracy and completeness.
Review Guidelines: Thoroughly read the Ontario Creates IDM Fund Guidelines for both Interactive Content (Non-Linear) and Video Content (Linear). Ensure you understand all requirements and criteria.
Start Application: Log in to the OAP and click on “Start new application.” Follow the onscreen directions to access and complete the application form.
Submit Application: Ensure all sections of the application form are completed and all required documents are attached. Submit the application via the OAP before the deadline.
Technical Support: If you encounter any issues with the OAP, email [email protected] for assistance.
Await Review: Your application will be reviewed by Ontario Creates. Be prepared to provide additional information if requested.
Approval and Funding: If approved, you will receive a non-refundable contribution of up to 50% of eligible Ontario expenses. Ensure you understand the terms and conditions of the funding.