OVIN — Electric Vehicle (EV) — Stream 1
Highlights
This program is a great opportunity for your business to advance in the electric vehicle (EV) sector. You can receive up to $100,000 in co-investment for developing, testing, and validating EV and battery-focused technologies. This funding can help you create marketable solutions and demonstrate your innovations to potential customers.
What You Get:
- Up to $100,000 in funding
- Support for projects related to EVs, including light and heavy-duty vehicles, charging infrastructure, and intelligent transportation systems
Benefits:
- Commercialization of Ontario-made technologies
- Collaboration with researchers to extend your R&D capabilities
- Public/private partnerships to enhance your project's impact
This program offers a straightforward application process and is designed to support projects with high potential for commercialization and strong market demand. By participating, you can significantly boost your business's growth and innovation in the EV industry.
Financing Details
Type of Financing: Co-investment
Repayment Terms:
- No repayment terms or interest rates apply as this is a co-investment.
Eligible Expenses:
- Development, testing, and validation of electric vehicle (EV) and battery-focused technologies.
- Projects related to mass light vehicles, heavy-duty vehicles, charging infrastructure, intelligent transportation systems, and transit-supportive systems and vehicles.
Use of Funds:
- Funds can be used for technology proof-of-concept development, demonstration, product/service validation, testing, and piloting.
- Cannot be used for proving feasibility or basic technology research.
Fees:
- No fees are associated with this program.
Qualifications
- Must be a small or medium-sized enterprise (SME) with fewer than 500 global, full-time employees.
- Must have operations in Ontario and carry out the project in Ontario.
- Must have at least one partner, which can be:
- Small and medium enterprises (SMEs)
- National and multinational enterprises (NEs and MNEs)
- Academic institutions (as clients only)
- Municipalities
- Indigenous communities
- Not-for-profit organizations representing industry
- Crown Corporations
- Transit Authorities
- Project must have a total budget of up to $300,000 over 12 months.
- Project must be at Technology Readiness Level 3-9.
- Project activities should include technology proof-of-concept development, demonstration, product/service validation, testing, and piloting.
Must demonstrate close collaboration and scalable outcomes with high potential for commercialization, strong commercial pull, competitive advantage, and alignment with intended program benefits.
Disqualifications:
- Projects intended to prove feasibility or for basic technology research.
Description
This program offers your business up to $100,000 in funding for developing and testing electric vehicle (EV) and battery technologies. You can use this money for projects involving cars, trucks, buses, and other vehicles, as well as charging infrastructure and intelligent transportation systems.
Key benefits include:
- Up to $100,000 in funding for your project.
- Support for a wide range of EV technologies, from batteries to charging systems.
- Collaboration opportunities with researchers and other businesses.
The funds must be matched by a 2:1 contribution from you or your partners. The program supports projects over a maximum of 12 months. This is a great chance to advance your technology and make a significant impact in the EV market.
Program Steps
Complete the Client Intake Form: Start by filling out the client intake form. This will initiate the application process and connect you with an OCI Business Development Manager (BD).
Consult with OCI Business Development Manager: After submitting the intake form, an OCI BD will contact you. They will discuss the opportunity, assist with the application, and provide oversight for the OCI components of any approved project.
Prepare Necessary Documentation: Gather the following documents to support your application:
- Program Guidelines
- OCI Funding Agreement
- Eligible Expenditures Guide
- Full Proposal Questionnaire
- Letter of Support Template
- Data and Information Sharing Protocol (DISP) documents
Develop a Full Proposal: Work on your full proposal, ensuring it includes detailed information about your project, partners, and expected outcomes. This proposal should demonstrate close collaboration, scalable outcomes, and high potential for commercialization.
Submit the Full Proposal: Once your proposal is complete, submit it for review. Ensure all required documents and information are included.
Review and Feedback: The proposal will be reviewed by the program administrators. Be prepared to provide additional information or clarification if requested.
Approval and Funding: If your proposal is approved, you will receive up to $100,000 in co-investment funding. Ensure you understand the terms and conditions of the funding agreement.
Project Implementation: Begin your project, adhering to the timelines and milestones outlined in your proposal. Maintain regular communication with your OCI BD to ensure compliance with program requirements.
Reporting and Evaluation: Throughout the project, provide progress reports and a final evaluation to demonstrate the outcomes and impact of the funded activities.