Ontario Bioindustrial Innovation Network
Highlights
Hello,
We understand you're looking for ways to grow your business in the chemistry sector. This program is a fantastic opportunity for you. With a $15 million initiative, it's designed to support businesses like yours in the Hybrid Chemistry Cluster in Sarnia-Lambton and the new Sustainable Chemistry Cluster in Eastern Ontario. By participating, you'll gain access to investment, expert advice, and services that can help your business thrive. Imagine being part of a thriving community focused on clean technology and sustainable practices.
Here's what's in it for you:
- Investment and Expert Advice: Get the financial backing and guidance you need to build stronger value chains and accelerate your growth.
- Access to High-Performing Clusters: Join a network that supports competitive technology companies, helping you generate jobs and create economic value.
- Support for Sustainable Practices: Be at the forefront of innovation, contributing to a net-zero carbon economy.
Qualifying for this program is straightforward, and the benefits are clear. You'll be positioned to lead in the chemistry industry, with tools and knowledge that drive success. Let's make your business a part of this exciting journey towards sustainability and growth.
Financing Details
Loan: The program offers a repayable loan to support your business initiatives in sustainable chemistry and clean technology.
Interest Rates and Repayment Terms: The loan carries a competitive interest rate, which is fixed to ensure stability in your financial planning. Repayment terms are flexible, with options to extend up to 10 years, allowing your business ample time to leverage the new capabilities and achieve growth before needing to settle the debt.
Eligible Expenses: Funds from this loan can be used towards a variety of expenses that are crucial for your business development. These include equipment purchases, research and development costs, and operational expenses directly related to the sustainable chemistry projects.
Restrictions on Use of Funds: It's important to note that the loan cannot be used for non-business related expenses, debt refinancing, or covering past losses.
Fees: There is a nominal application fee to process your loan request. However, there are no hidden charges or additional fees for early repayment of the loan, making it a cost-effective option for your business growth.
Qualifications
- Business must be located in either the Sarnia-Lambton region or Eastern Ontario.
- Business should be part of or willing to join the Hybrid Chemistry Cluster or the new Sustainable Chemistry Cluster.
- Business must be involved in clean technology or sustainable chemistry.
- Business should aim to generate jobs and create economic value.
- Business must support the transition towards a sustainable, net-zero carbon economy.
Description
This program is all about helping your business grow and thrive in the chemistry sector. With a $15 million initiative, it's designed to boost the Hybrid Chemistry Cluster in Sarnia-Lambton and kickstart a new Sustainable Chemistry Cluster in Eastern Ontario. This means more opportunities for your business to be part of a thriving community focused on clean technology and sustainable practices.
You'll get access to investment, expert advice, and services that can help your business develop and succeed. Whether you're looking to build stronger value chains or accelerate your growth, this program offers the tools and knowledge you need. It's all about creating economic value and supporting the transition to a net-zero carbon economy.
By joining this program, your business can benefit from being part of high-performing clusters. You'll be in a position to generate jobs, create economic value, and support competitive technology companies. It's a chance to be at the forefront of innovation and sustainability in the chemistry industry.
Program Steps
Prepare Your Documentation
Gather the following documents to complete your application:- Business registration details
- Financial statements (last two years)
- Business plan outlining your growth strategy
- Information on current projects related to clean technology
- Any relevant certifications or licenses
Complete the Application Form
Fill out the application form with accurate and detailed information about your business and its goals.Submit Your Application
Send your completed application along with the required documentation to the designated program office.Follow Up
After submission, check in with the program office to confirm receipt and inquire about the review timeline.Prepare for an Interview (if applicable)
Be ready to discuss your application in detail. Highlight how your business aligns with the program's goals.Receive Notification of Approval
Wait for the program office to notify you about the status of your application.Review Funding Agreement
If approved, carefully review the funding agreement and terms before signing.Implement Your Growth Plan
Once the funding is secured, start executing your growth strategy with the support provided by the program.
