Federal Economic Development Agency for Southern Ontario
FedDev Ontario is looking for:
- Innovative and globally oriented businesses seeking to accelerate their growth.
- High-potential firms (including accelerator graduates) that are commercializing innovative products, technologies and processes.
- Firms with scale-up potential looking to improve productivity through the adaptation/adoption of highly innovative, first-of-its-kind technologies with the goal of global competitiveness and market expansion.
- Entrepreneurs and businesses in rural areas looking to grow, commercialize and improve productivity.
Applications can be submitted for:
- No-interest, repayable contributions from $500,000 up to $10 million per project.
Applications are accepted on an ongoing basis with no submission deadlines. All project activities must be completed by December 31, 2023.
Eligible Applicants are
- Canadian or provincially incorporated businesses
- Indigenous organizations such as Indigenous-owned businesses
This Stream is not for smaller start ups and entrepreneurs.
Applicants are eligible for a repayable contribution.
The Business Scale-up and Productivity Stream will normally target investments that range from $500,000 up to a maximum of $10 million per project. On an exceptional basis, FedDev Ontario may consider funding amounts outside of this range.
The amount of the awarded contribution will be based on the minimum amount required for the project to proceed, the extent to which other sources of available funding have been leveraged, and the applicant’s ability to repay the contribution.
Applicants are eligible to receive up to 35 percent of eligible and supported project costs.
The applicant must have secured funding of at least 65 percent towards the balance of the project’s eligible costs. A combination of committed funding from accredited investors (angels, venture capitalists), growth capital, strategic partners, commercial financing, and working capital is acceptable.
Contributions will be unconditionally repayable.
Repayments of contributions will be expected to commence as soon as reasonably possible, without compromising the success of the project or the organizations receiving the funding. The specific terms of repayment, including date of commencement and length of repayment term, will be determined on a case-by-case basis during the development of the contribution agreement. However, repayment will begin no later than one year following the completion of the project.
SOURCE: Federal Economic Development Agency for Southern Ontario. (2018, December 3). Federal Economic Development Agency for Southern Ontario – Application Guide. Retrieved from http://www.feddevontario.gc.ca/eic/site/723.nsf/eng/02470.html?OpenDocum