Technology Business Grants (2023): 93 Funding Programs Currently Available
If you’re looking for technology business grants, you’re in the right place!
Because we have the most comprehensive, up-to-date guide on grants and other types of funding for entrepreneurs running technology businesses.
In this guide you’ll learn what’s available, eligibility requirements, how much you can get, and much more!
What Can Technology Business Grants Be Used For?
Technology business grants can be used to pay for many aspects of starting or running a business. Here are some of the uses that are covered by programs in our grants database:
See the section below with a complete list of technology business grants available.
How Much Grant Money Can I Get for My Technology Business?
In our database we currently have grants ranging from $625 to $4,000,000.
Am I Eligible for a Technology Business Grant? Common Eligibility Criteria
Two of the most common questions we get asked at Ontario Business Grants are “Am I eligible?” and “How do I qualify?”.
We analyzed the technology business grants in our grants database, and these are the most common qualifications we identified:
Note: these are just the most common eligibility criteria – there are many grants with different requirements.
Technology Business Grants for Ontario: Current Grants Available
In the table below we list the grants currently available to Ontario Technology businesses. To learn more about each program, just click the program name and you’ll be taken to a web page that provides detailed information on the program, including eligibility, the dollar amount of the program, and how to apply for the grant:
Grants for Ontario Technology Businesses
Other Types of Funding for Technology Businesses
Our goal is for this guide to be a complete source of funding information for technology businesses. So, in this section you’ll find all the other money programs (besides grants) that are available to Technology entrepreneurs:
Loans for Technology Businesses
A loan might not sound as good as a grant, but many loans for Technology businesses have a low interest rate. While they might not be free money, if you don’t qualify for a grant, a low-interest loan is probably the next best thing.
The programs below include government loans:
Government Loans for Technology Businesses
A subsidy is a type of financial assistance usually provided by the government in order to promote a social good or an economic policy. Wage subsidies are the most common subsidies.
In the table below you’ll find the subsidies currently available for Technology businesses:
Subsidies for Technology Businesses
| Name of Program | Amount | Type |
|---|---|---|
| Environmental Careers Organization of Canada (ECO Canada) Co-op Student Work Placement | $5000 | Wage Subsidy |
| Environmental Careers Organization of Canada – Science Horizons Internship Program | $18000 | Wage Subsidy |
| BioTalent Canada Student Work Placement Program (SWPP) (2022) | $7000 | Subsidy |
An investment is a form of financing where capital is provided in exchange of ownership in the company. It is an alternative to conventional methods of raising capital (loans, issuing stocks, selling bonds) and the good thing about it is that you do not have to make monthly payments. Common investment includes private equity and venture capital.
Here are the investment programs currently available for Technology businesses:
Investment Programs for Technology Businesses
A competition usually refers to a pitch competition, a contest where entrepreneurs give a pitch (a short and compelling presentation of their business concept) to a panel in the hope of winning a cash prize or investment capital.
Here are the competitions currently available for technology businesses:
Competitions for Technology Businesses
| Name of Program | Amount | Type |
|---|---|---|
| DMZ - Black Innovation Program’s Social Impact Stream | no fixed amount | Competition, Incubator |
| Centre for Engineering Innovation and Entrepreneurship (Toronto Metropolitan University) - Innovation Boost Zone: Raise | N/A | Competition, In-Kind Support |
| Invest Ottawa - SheBoot | $150000 | Competition, Entrepreneurship Program |
| ventureLAB - HardTech Pitch Competition | $50000 | Competition, In-Kind Support |
| Western Morrissette Institute for Entrepreneurship (Western University) - Proteus Innovation Competition | $5000 | Competition |
| Velocity, University of Waterloo – Concept $5K Grant (2022) | $5000 | Competition |
In-kind support refers to non-cash resources provided to support businesses. In kind-support can take various forms: access to coaching, mentorship, investors, logistical and technical resources (space, equipment, computers, internet and software, free testbed), training programs, business advice and counseling. Entrepreneurship centres, accelerators and incubators provide valuable in-kind support to new and existing entrepreneurs.
Accelerators for Technology Businesses
| Name of Program | Amount | Type |
|---|---|---|
| SWITCH - Accelerator | no fixed amount | Accelerator |
| NORCAT - Innovation Acceleration Program | $10000 | Accelerator, Grant |
| WEtech Alliance - ScaleUP Tech Accelerator | N/A | Accelerator |
| ventureLAB – Accelerated Growth Program | Not Applicable | Accelerator |
| ventureLAB – Pre-Accelerator Support Program | Not Applicable | Accelerator |
| The Accelerator – A2X Cross-border Accelerator | Not Applicable | Accelerator |
| TechAlliance of Southwestern Ontario – GROW Accelerator | Not Applicable | Accelerator |
| Invest Ottawa – IO Accelerator | Not Applicable | Accelerator |
| Invest Ottawa – IO Ignition | Not Applicable | Accelerator |
| Innovation Cluster – Women Breaking Barriers | Not Applicable | Accelerator |
Entrepreneurship Programs for Technology Businesses
| Name of Program | Amount | Type |
|---|---|---|
| Altitude Accelerator - Investor Readiness | N/A | Entrepreneurship Program |
| DMZ - Black Innovation Connections | $5000 | Entrepreneurship Program, Grant |
| Invest Ottawa - SheBoot | $150000 | Competition, Entrepreneurship Program |
| ventureLAB - Tech Undivided | N/A | Entrepreneurship Program |
| The Accelerator – MIT Disciplined Entrepreneurship Program | Not Applicable | Entrepreneurship Program |
| Innovation Guelph - Rhyze Ventures: Scalable Business Stream | N/A | Entrepreneurship Program |
| Creative Destruction Lab (CDL) – Toronto The Program (2022) | No Fixed Amount | Investment |
Other In-Kind Support Programs for Technology Businesses
| Name of Program | Amount | Type |
|---|---|---|
| SRCkode - Acceleration | no fixed amount | Investment, In-Kind Support |
| Centre for Engineering Innovation and Entrepreneurship (Toronto Metropolitan University) - Innovation Boost Zone: Raise | N/A | Competition, In-Kind Support |
| Communitech – Fierce Founders Uplift | $10000.00 | In-Kind Support, Investment |
| Invest Ottawa - IO Traction | $10000 | Grant, In-Kind Support |
| ventureLAB - HardTech Pitch Competition | $50000 | Competition, In-Kind Support |
| Windsor Essex Capital Angel Network - Pitch Equation Angels | $2000000 | In-Kind Support, Investment |
| TechAlliance of Southwestern Ontario – London Innovation Challenge | $40000 | Grant, In-Kind Support |
| Communitech – Fierce Founders Intensive Track (2021) | $50000 | Grant |
| Collaborate 2 Commercialize (C2C) Program – Ontario Centers of Innovation (2022) | $150000 | Grant |
| Northwestern Ontario Innovation Centre (NOIC) (formerly NWOIC) – Kenora and Rainy River District Business Accelerator Fund | $5000 | Investment |
Best Technology Business Grants, Loans & More
While there are lots of good programs available, below we highlight some of the best grants, loans, subsidies & more for Technology businesses:
Best Government Grants for Technology Businesses
Innovation, Science and Economic Development Canada (ISED) – Strategic Innovation Fund Stream 1: R&D and Commercialization
Strategic Innovation Fund’s Stream 1 encourages research and development (R&D) that will accelerate technology transfer and commercialization of innovative products, processes and services.It provides repayable and non-repayable contributions to firms of all sizes across all of Canada’s industrial and technology sectors.
Innovation, Science and Economic Development Canada (ISED) – Strategic Innovation Fund Stream 2: Firm Expansion and Growth
Strategic Innovation Fund’s Stream 2 facilitates the growth and expansion of firms in Canada. It provides repayable and non-repayable contributions to firms of all sizes across all of Canada’s industrial and technology sectors.
Innovation, Science and Economic Development Canada (ISED) – Strategic Innovation Fund Stream 3: Investment Attraction and Reinvestment
Strategic Innovation Fund’s Stream 3 provides funding to attract and retain large scale investments to Canada. It provides repayable and non-repayable contributions to firms of all sizes across all of Canada’s industrial and technology sectors.
Natural Sciences and Engineering Research Council of Canada (NSERC) – National Quantum Strategy: Alliance Quantum Grants
The Alliance Quantum grants will reinforce, coordinate and scale up Canada’s domestic research capabilities in quantum science and technology through partnerships between university researchers and organizations from the private, public or not-for-profit sectors. This funding opportunity will be delivered through various calls for proposals, of which Strengthening Canada’s quantum research and innovation capacity is the first.
Independent Electricity System Operator (IESO) – Grid Innovation Fund
IESO’s Grid Innovation Fund advances innovative opportunities to achieve electricity bill savings for Ontario ratepayers by funding projects that either enable customers to better manage their energy consumption or that reduce the costs associated with maintaining reliable operation of the province’s grid. It provides financial support for innovative energy projects across Ontario. It invests in projects no more than three years in length, and funds up to a specified percentage of project costs, depending on project type.
Best Government Loans for Technology Businesses
Business Development Bank of Canada (BDC) – Financing for Tech Companies
Financing for Tech Companies Loan provides funding to earlier-stage scale-up Canadian tech companies in need to secure their market position and to established businesses in growth mode. Financing can be used to:
FedDev Ontario – Business Scale-up and Productivity stream 1 under Rural Growth and Innovation in Southern Ontario
The Business Scale-up and Productivity (BSP) Stream helps to accelerate the growth of firms and assist with the adoption of new, innovative technologies that support scale-up, productivity, and the development of and entry into new markets to help companies become globally competitive.
FedDev Ontario – Regional Quantum Initiative in Southern Ontario
The Regional Quantum Initiative (RQI) in Southern Ontario is designed to help companies advance and commercialize their quantum products and solutions for domestic and global markets.
RQI provides funding seeking support projects that involve a range of activities to demonstrate, commercialize and scale-up Canadian-made quantum technologies, solutions and companies.
Best Government Investment for Technology Businesses
Business Development Bank of Canada (BDC) – Deep Tech Venture Fund
BDC’s Deep Tech Venture Fund helps early-stage companies develop their markets and commercialize their innovations in Canada and abroad.
Business Development Bank of Canada (BDC) – Industrial, Clean and Energy Technology (ICE) Venture Fund
With deep expertise and agility, the Industrial, Clean and Energy Technology (ICE) Venture Fund manages $300 million in capital. The fund invests in Canada’s most innovative technology companies, firms that are redefining how the world works by bringing digital transformation to a wide range of industries.
Best Non-profit Grants for Technology Businesses
Digital Technology Supercluster – Talent + Capacity Building Program
The Talent + Capacity Building Program aims to partner with employers, educators, learning and development technology companies and community organizations to build job ready, world-class talent and teams. Digital Technology Supercluster co-invests in projects that help Canadians develop the skills, leadership and opportunities needed to grow innovative digital enterprises.
Under the Capacity Building program, Digital Technology Supercluster co-invests in two types of projects:
MaRS Discovery District – The Investment Accelerator Fund (IAF)
The Investment Accelerator Fund (IAF) provides up to $500,000 in seed funding to qualified emerging companies in Ontario to support the launch and development of innovative companies in Ontario’s priority sectors of advanced materials and manufacturing, information technology, cleantech and life sciences.
Ontario Centre of Innovation (OCI) – ENCQOR 5G Technology Development (SME) Program
The Technology Development (SME) Program partners Ontario-based small- and medium-sized enterprises (SMEs) with ENCQOR 5G Anchor Firms on 5G technology development projects. Areas of technology interest are defined in Challenge Statements submitted to OCI by the ENCQOR 5G Anchor Firms and posted to the OCI website on a rolling basis.
Ontario Centre of Innovation (OCI) – Collaborate 2 Commercialize (C2C) Program
The Collaborate 2 Commercialize (C2C) Program supports the collaboration between Academia and Industry to solve an industry‐based problem and drive the commercialization of Intellectual Property (IP). The institution will leverage the unique skills and specialized infrastructure that is instrumental to streamline internal innovations and commercialization needs.
Eligible C2C applicants can also leverage funds from several federal Co-Funding Partners, through a streamlined, single-application process. Current Co-Funding Partners include:
Best Non-profit Loans for Ontario Technology Businesses
Community Futures Oxford – Future Oxford Legacy Fund – Access to Capital
The goal of the Future Oxford Legacy Fund – Access to Capital component will be to cultivate entrepreneurship throughout Oxford, thereby building a vibrant and sustainable economy. Priority sectors include youth entrepreneurship and employment, arts, culture, tourism, high-tech manufacturing, green technology, and locally grown and processed agriculture products. Access to capital provides flexible repayment terms, negotiated to encourage the long-term viability of the borrower.
Northumberland Community Futures Development Corporation (Northumberland CFDC) – DELIA
DELIA is an automated lending platform for women-owned and women-led innovation-driven enterprises located anywhere in Southern Ontario. Fast forward to today, with the support of Innovation, Science and Economic Development Canada (ISED Canada), DELIA is now available across all of Canada.
Best Non-profit Subsidies for Technology Businesses
BioTalent Canada – Student Work Placement Program (SWPP)
This program offers a current STEM or business student an opportunity to gain valuable work experience in biotechnology, and you’ll be rewarded with all the excitement, creativity, new ideas, and new knowledge that comes with those still in school.
Besides, you’ll also be rewarded with funding of up to 70%, or $7,000 of the intern’s salary. Alternatively, you could get up to 50%, or $5,000, of a co-op student’s salary or 70%, or $7,000, of the salary for a first-year or underrepresented student.
Colleges and Institutes Canada (CICan) – Career-Launcher Digital Tech Internships
This CICan program will also give you up to $15,000 for the intern’s salary and training. You can use up to $4,000 for training, and for-profits can use the remainder to cover up to 75% of the intern’s salary, 50% for nonprofits.
Environmental Careers Organization of Canada (ECO Canada) – Science Horizons Internship Program
Build your company’s capacity at the same time as you give a young Canadian valuable work experience and a passion for improving our environment.
If your organization operates in the natural resources or environmental sector and you have a green STEM job available for a youth, apply for this grant program quickly.
The Science Horizons Internship program includes fields in science, technology, engineering, or math. Your open position should be in green manufacturing, carbon and climate change mitigation, energy efficiency and green building, resource conservation, environmental protection, or something similar approved by the program.
Best Non-profit Investment for Technology Businesses
Communitech – Fierce Founders Intensive Track
Fierce Founders Intensive Track helps women and non-binary founders on their path to scale. Participants receive hands-on support from our experienced growth coaches to execute a customized growth plan. The strongest growth plans qualify to receive matching seed funds of $50,000 from the Federal Economic Development Agency of Southern Ontario.
Creative Destruction Lab – Investment
Creative Destruction Lab (CDL) is an objectives-based program for massively scalable, seed-stage science- and technology-based companies.
NEXT Canada – Next AI
Next AI is a world class program for artificial intelligence based ventures and technology commercialization.
Next Canada identifies talented ideas or early-stage teams with ambitious solutions and leverage Canada’s leadership position in AI to provide them with the capital, mentorship, education and network to disrupt industries.
Next AI is delivered on two campuses: Toronto and Montréal. Next AI – Montréal is delivered in partnership with HEC Montréal.
Ontario Centre of Innovation (OCI) – Ready 4 Market (R4M)
Ready 4 Market (R4M) is Ontario’s leading pre-seed investment fund. Through the fund, OCI co-invests with angel and other investors in early-stage Ontario-based start-ups with competitive IP commercializing transformative technologies to support their growth into scalable businesses. R4M is a competitive co-investment fund, with hundreds of companies considered for funding closing around 20 investments each year.
York Angel Investors – Investment
York Angel Investors provides early stage start-ups with seed funding, and importantly advisors who counsel portfolio companies. They mainly invest in B2B and B2C, SaaS, IoT & ICT, Industrial Automation, Fintech, InsureTech, CPG, Cleantech, HealthTech, Marketplace Solutions.
The Investments York Angel Investors make often represent the bridge between Self-Financed, Friends & Family funding and Seed Stage, Venture Capital, or Private Equity funding.
Best Academia Investment for Technology Businesses
University of Toronto and Toronto Acceleration Innovation Partners (TIAP) – University of Toronto Early-Stage Technology (UTEST) Program
The UTEST Program provides support to University of Toronto entrepreneurs to create research based companies. It provides companies with investment capital, mentoring, business strategy and incubation space at the University of Toronto St. George Campus.
Velocity, University of Waterloo – Velocity Fund
Velocity Fund is Velocity’s pre-seed fund which invests in software, hardware, deep tech and med tech companies. The Velocity Fund invests in early-stage (pre-seed, seed) companies.
Best Private Organization Investment for Technology Businesses
District Ventures Capital – Venture Capital Funding
DMZ Ventures is the for-profit investment arm of Toronto Metropolitan University. It supports startup founders by helping them build foundations, forge connections and fuel growth. DMZ focuses on:
Extreme Venture Partners – Investment
The Extreme Venture Partners invest in technology companies based in Canada that have demonstrated traction with paying customers.
Mantella Venture Partners – Early Stage Fund
Through this program, Mantella Venture Partners invests in exceptional entrepreneurs building market-altering mobile and Internet software businesses. After investment, their portfolio companies benefit from active, hands-on involvement in all phases of growth, including product development, business development, marketing, financing, and team development.
Round13 Capital – Round13 Capital
Round13 Growth invests in growth opportunities including those in technology and healthcare, as well as more traditional industries where there is an opportunity for technology enablement. They focus solely on Canadian based growth companies where their knowledge, experience and relationships can be utilized to help drive growth and to positively and actively influence outcomes. They help to bridge the late-stage growth funding gap in Canada between traditional venture capital and public market investors.
Best Competitions for Technology Businesses
Velocity, University of Waterloo – Velocity $5K
The Velocity $5K pitch competition offers the opportunity for University of Waterloo student-led teams with innovative solutions and high potential business ideas to showcase their hard work and compete for grant funding. Participants receive valuable feedback, pitching experience, and idea validation from a network of experienced entrepreneurs and Velocity Coaches.
Western Morrissette Institute for Entrepreneurship (Western University) – Proteus Innovation Competition (Proteus IC)
The Proteus Innovation Competition is an intense four-month competition that will challenge individuals to create a viable commercialization strategy for 1 of 5 promising technologies, in hopes of winning a cash prize of up to $5,000. This three part competition allows contestants to hone their business skills, work with a variety of experienced advisors, and accelerate the commercialization process of discoveries coming out of Ontario’s institutions.
ventureLAB – HardTech Pitch Competition
The HardTech Pitch Competition, held in partnership by ventureLAB and the Regional Municipality of York, is open to small and medium enterprises incorporated in Canada developing hardware innovations. Finalists will have the opportunity to pitch for their chance to take home a collective $50,000 in cash and showcase their breakthrough products and innovations in hardware technology to a broad audience including industry, investors, government, media, and more!
Best In-kind Support Programs for Technology Businesses
Incubators
Brampton Venture Zone (Toronto Metropolitan University) – BVZ Launch & BVZ Incubator Fellowships
BVZ Launch is a virtual 6 month, non-equity based incubator program designed for MVP-ready technology startups to launch in the market. It provides startups in the health and wellness, food sustainability and/or smart city, mobility, and logistics sectors with access to industry partners for early market validation as well as opportunities to secure potential pilots.
Velocity, University of Waterloo – Velocity Incubator
The Velocity Incubator program supports early-stage companies, from University of Waterloo alumni, capable of driving positive, large-scale, global impact through technology, scientific discoveries, and meaningful engineering innovation. Velocity is a University of Waterloo incubator for early-stage, pre-seed tech startups.
Altitude Accelerator – Altitude Accelerator Incubator
Altitude Accelerator’s flagship Incubator program is for innovative tech solutions looking to scale. The intensive program helps applicants build their market traction to set them up for accelerated growth and future investment. Applicants are offered access to top-tier mentors and advisors, expert-led workshops, and peer support.
DMZ – DMZ Incubator
The DMZ Incubator is an equity-based program that helps venture-backable tech startups grow their business over the course of 18 months.
Accelerators
The Accelerator – A2X Cross-border Accelerator
The Accelerator is this region’s premier cross-border accelerator. Through their extensive partnerships throughout the United States with a particular focus on their neighbours in Detroit, they’ve developed a roadmap to streamline business globalization. This allows Canadian startups the opportunity to go to market in the US faster, as well as for US startups to begin their global growth journey in Canada.
ventureLAB – Accelerated Growth Program
The Accelerated Growth Program is a six-month incubation program for companies who have launched their product or are in-market. Our hands-on advisory services and tailored programming will help accelerate your company’s growth while also offering you the tools and resources to build sustainably.
SWITCH – Accelerator
SWITCH’s 10-week accelerator focuses on getting early-stage tech startup founders investment-ready and connecting them to the capital that’s best for them, whether it’s venture funding, angel investors, equity crowdfunding or debt-based funding.
Entrepreneurship Programs
Altitude Accelerator – Investor Readiness
The Investor Readiness Program is an exclusive 6-week program for high potential technology startups looking to raise a seed round. The program offers:
Creative Destruction Lab (CDL) – Toronto – The Program
Situated in the Toronto-Waterloo tech corridor, CDL-Toronto provides startups with access to business development support from top business students at the Rotman School of Management, funding from leading VC firms, and resources to scale. It currently offers eight streams: Prime, Artificial Intelligence, Blockchain, Health, Matter, Quantum, Space and Neuro.
The Accelerator – MIT Disciplined Entrepreneurship Program
The Disciplined Entrepreneurship is a systematic and rigorous program to build new innovation-based ventures. The 24-step framework helps translate technology and ideas into innovative new products.
ventureLAB – Tech Undivided
Tech Undivided offers a comprehensive 6-month program to challenge women-led tech companies to scale their businesses. Through the pillars of capital, talent, IP & technology, and customers, this program creates a support ecosystem of resources and networking opportunities for women founders to thrive.
Tech Undivided is designed for founders building breakthrough solutions leveraging hardware and/or enterprise software technologies. It draws on the combined expertise of ventureLAB Advisors, Strategic Mentors, and exclusive partners to offer strategic and tactical support to help them refine their product-market-fit, amplify their sales, and navigate relevant sources of funding – and help hone their pitch to better prepare for customer and investor meetings.
Other In-kind Support Programs
Altitude Accelerator – RevUP
RevUP is a self-directed learning module for early-stage startup founders who are looking to test their new business idea – from problem identification to market sizing, customer persona development, competitive analysis, and more.
Centre of Excellence in Next Generation Networks (CENGN) – CENGN Projects
CENGN helps small and medium-sized Canadian technology companies accelerate their commercialization efforts by giving them no-cost access to CENGN multi-cloud commercial-grade computing and networking testbed to run projects that accelerate their commercialization efforts.
CENGN accepts projects in a wide range of technology areas, but their specialties are: SDN/NFV/SD-WAN, IoT, Data Centre/Cloud, Security, Mobile Networks, AI, Network Transport, and Network Applications (e.g.: automation, analytics, operational support, etc.).
There are 4 Project Streams:
Haltech Regional Innovation Centre – “Start Me Up!”
“Start Me Up!” is a 2-part workshop featuring 10 modules designed to help early-stage start-ups progress through the Idea, Discovery and Validation stages, and to assist latter-stage start-ups review their core business frameworks. This on-demand learning program takes early-stage start-ups through the process of building a successful business foundation.
