Amount:

$10,000

Type of Program:

Grant


Description:

The Triple-P program is designed to spur economic development by offsetting the cost of purchasing equipment or technology related to the innovative commercial product, process, or service of the company in three categories: productivity, prototype, and process improvements.

This support could be applicable, but not limited to, projects that have the following outcomes:

  1. 1
    increased efficiency;
  2. 2
    added production capacity;
  3. 3
    reduced waste;
  4. 4
    strengthened competitiveness;
  5. 5
    entered a new geographic or product markets;
  6. 6
    new product development.

Comments on Funding:

The Triple-P Program will support up to 50% of eligible costs, before tax, at one of three funding levels:

  • Level 1: $5,000 grant for a minimum project spend, before tax of $10,000;
  • Level 2: $7,500 grant for a minimum project spend, before tax of $15,000;
  • Level 3: $10,000 grant for a minimum project spend, before tax of $20,000.

Projects will be reimbursed upon receipt of final invoice(s) and proof of payment to be completed within a 6-month time frame.


When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

Companies must:

  • be for-profit entity, registered as a sole proprietor, partnership or corporation;
  • be located in the districts of Nipissing, Timiskaming, Parry Sound or Muskoka;
  • be looking to develop their ability to advance the growth of their business as defined by the program objectives;
  • not be businesses operating as distributors, resellers or wholesalers.

Emphasis will be placed on applicants who demonstrate the potential to create jobs, increase revenue and grow the economy. On-going operational project costs are not eligible.

Applications Steps:

1

are strongly encouraged to contact IION (Matthew at: 705-845-0616, or email at matthew@iion.ca) prior to applying to ensure clarity on the program and it’s qualifying conditions;

2

must complete and submit the application form found online (word format) prior to incurring costs associated with the project;

3

must register as an IION client before receiving any funds and are required to fill out occasional surveys as a reporting requirement for up to five years, if their application is successful.

Documentation Needed:

Applicants must submit two contractor quotes with all applications and identify the contractor they have selected on the application form. In cases where two quotes are not feasible they must provide a rationale. Applicants are encouraged to utilize Northern Ontario expertise/suppliers where possible.

Projects will be reimbursed upon receipt of final invoice(s) and proof of payment to be completed within a 6-month time frame.

Other Things to Note:

The Triple-P program has a continual intake process, with monthly reviews. The last day of every month is the submission deadline.

About the author 

Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Ontario to identify and maximize government grants to grow their business.
Click here to learn more about Moe's background and how he can help your business.

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