FedDev Ontario Regional Innovation Ecosystem (2022)

Description:

The Regional Innovation Ecosystem stream aims to create, grow and develop strong and inclusive regional ecosystems that support business growth and innovation, as well as the entrepreneurial environment necessary to foster more innovative regional economies and increase the competitiveness of SMEs.

Comments on Funding:

Funding is up to 50% of eligible project costs and ranges from $500,000 up to $10 million per project. Funding is a no-interest, repayable contribution.

Applicants provide minimum 50% cash contribution.

The maximum disbursement of a contribution that provides funding to SMEs as their ultimate recipient is capped at a maximum of $100,000 per SME under a FedDev Ontario project with a not-for-profit organization.

Total government funding is up to 100%.

Eligibility:

Applicants must be not-for-profit organizations that may include:

  • A group or an alliance such as an industry association or consortium,
  • Post-secondary institutions
  • Innovation centers
  • Business accelerators and incubators
  • Angel networks
  • Indigenous organizations
  • Community Futures Development Corporations (CFDCs)
  • Co-operatives
  • Municipalities and other municipal-type organizations
  • Other not-for-profit organizations, as determined on a case-by-case basis
  • Located in southern Ontario
  • Legal entities capable of entering into legally binding agreements.

To be considered eligible for funding, applicants must demonstrate:

  • evidence of project funding.
  • managerial, technical, operational and financial capacity to achieve the project’s stated objectives in a timely manner.
  • market/industry demand (e.g., how the project addresses a significant gap in the market; global opportunity to be seized within Canada; and evidence that southern Ontario is uniquely positioned to capture market share).
  • a viable project plan with achievable outcomes, supported by verifiable cost estimates.

Applications Steps:

Documentation Needed:

Applicants must demonstrate: 

  • Evidence of project funding,
  • Market/industry demand (e.g., how the project addresses a significant gap in the market; global opportunity to be seized within Canada; and evidence that southern Ontario is uniquely positioned to capture market share),
  • A viable project plan with achievable outcomes, supported by verifiable cost estimates.

Testimonials:

Growing the next generation of anchor firms in southern Ontario

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