Regional Economic Growth Through Innovation & Southern Ontario Prosperity Program — Not-for-profit organizations
Highlights
This program is designed for businesses like yours that aim to grow and innovate. By applying, you can access non-repayable contributions ranging from $125,000 to $10 million. This funding can help you create a thriving environment for innovation and entrepreneurship, foster inclusive and sustainable economic growth, and support new entrepreneurs through mentorship and training.
What You Get:
- Non-repayable contributions from $125,000 up to $10 million per project
- Support for projects focusing on clean economic growth, business development, cutting-edge technology, and industrial transition
- Priority for projects that support zero-emission vehicles and housing manufacturing innovation
Why Apply:
- Easy application process with support available to answer your questions
- Funding can help you transform and diversify your local economy
- Projects that promote inclusive growth and create opportunities for underrepresented groups are highly encouraged
Applying for this program can significantly boost your business's potential and open new possibilities. The process is straightforward, and the benefits are substantial. Don't miss this chance to secure funding that can drive your business forward.
Financing Details
Type of Financing: Non-Repayable Contribution
Eligible Expenses:
- Creating a thriving innovation and entrepreneurship environment
- Fostering inclusive and sustainable economic growth
- Supporting new entrepreneurs through mentorship and training
- Transforming and diversifying local economies
Use of Funds:
- Projects that support the greening of the economy, contribute to emissions reductions, and create sustainable and green jobs
- Projects that accelerate business development and growth
- Projects in cutting-edge sectors such as artificial intelligence, cybersecurity, medical technologies, digital health, and agri-tech
- Projects that support change in traditional sectors to adopt new technologies and innovations to improve competitiveness and build new opportunities
Ineligible Expenses:
- Funds cannot be used for expenses outside the scope of the eligible project categories mentioned above.
Fees:
- There are no fees associated with this program.
Qualifications
- Must be a not-for-profit or community development organization.
- Must provide support and services to companies.
- Must create a thriving innovation and entrepreneurship environment.
- Must foster inclusive and sustainable economic growth.
- Must support new entrepreneurs through mentorship and training.
Must transform and diversify local economies.
Disqualifications:
- For-profit businesses.
- Organizations not located in southern Ontario.
- Organizations that do not focus on innovation, economic growth, or entrepreneurship support.
Description
This program offers non-repayable contributions ranging from $125,000 to $10 million for projects that help businesses grow in southern Ontario. This means you do not have to pay back the money you receive.
You can use the funds for:
- Creating a thriving innovation and entrepreneurship environment
- Fostering inclusive and sustainable economic growth
- Supporting new entrepreneurs through mentorship and training
- Transforming and diversifying local economies
The program focuses on projects that support clean economic growth, accelerate business development, advance technology, and help traditional sectors adopt new innovations. Priority may be given to projects that support zero-emission vehicles and housing manufacturing innovation.
This is a great opportunity for your business to access significant funding without the burden of repayment. It can help you grow, innovate, and contribute to a sustainable and inclusive economy.
Program Steps
Attend a Virtual Information Session: Join one of the scheduled virtual information sessions to get detailed insights about the program and ask any questions you may have.
Prepare Documentation: Gather the necessary documents to support your application. These include:
- Financial statements
- Business plan
- Project proposal
- Proof of not-for-profit or community development organization status
- Any additional documents that demonstrate how your project aligns with the program's priorities
Contact FedDev Ontario: Reach out to FedDev Ontario via email at [email protected] or call 1-866-593-5505 to express your interest in applying and discuss your specific needs.
Complete the Application Form: Fill out the application form provided on the FedDev Ontario website. Ensure all sections are completed accurately and thoroughly.
Submit Your Application: Submit your completed application form and all supporting documents by the deadline of June 24, 2024, 4:59 pm Eastern Time.
Review and Follow-Up: After submission, monitor your email for any follow-up requests or additional information needed by FedDev Ontario. Be prepared to provide further details if required.
Await Decision: Wait for the assessment of your application. FedDev Ontario will review your submission and notify you of the decision.
Approval and Next Steps: If approved, discuss the terms and conditions of the funding, including any reporting requirements and timelines for project milestones.