Voucher for Innovation and Productivity (VIP) Program – Ontario Centers of Innovation (2022)

Description:

The Voucher for Innovation and Productivity program (VIP) 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.

Comments on Funding:

Funding is 50% (maximum) of total eligible project costs and ranges from $20,000 to $150,000 to the post-secondary institution (minimum $20,000 per year).

The Industry Partner cash contribution is 1:1 with OCE. Minimum 50% of the 1:1 match must be spent at the post-secondary institution; remainder may be spent at the company

Eligibility:

Applicants must:

  • be publicly funded Ontario-accredited post-secondary institutions (i.e., university, college, research hospital);
  • have a SME for-profit industry partner:
  • incorporated in Ontario for a minimum of two years and with a valid CRA business number;
  • with a minimum of five full-time equivalent (FTE) employees in Ontario; is using or developing technology innovation or innovative processes for competitive advantage in provincial, national and/or global markets;
  • with operations and/or R&D in Ontario related to the project and capacity to apply, exploit and/or commercialize results of the project for the economic benefit of Ontario;
  • in good financial and reporting standing with OCE;
  • with the necessary expertise and resources to put the project into effect within an appropriate timeframe.
  • propose a project that utilizes unique skills/resources of the post-secondary institution to meet industry innovation and commercialization needs.

A company cannot hold more than $150,000 in VIP funding at one time, or $525,000 of Industry‐Academic Collaborative Grants/Investments in a lifetime. Companies with over $150,000 in active VIP projects must complete those projects (including all final reporting) prior to OCI considering other applications for funding. Exemptions to this rule must be authorized by the VP, BD and provided by the PM and Program Lead with the application.

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