Research and Prototyping in Development (iRAPID) Program (2022)
Description:
The IION- Research and Prototyping in Development (iRAPID) Program accelerates commercialization activities for incorporated innovative companies who need assistance with their product development/prototyping projects. Emphasis will be placed on companies who demonstrate the potential to create jobs and grow the economy through their new product, process or service development.
Comments on Funding:
Funding is 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.
Eligibility:
The applicant must be:
The program is not intended to support, nor is applicable to, businesses operating as distributors or re-sellers.
Documentation Needed:
Other Things to Note:
The iRAPID program has a continual intake process, with monthly reviews. The last day of every month is the submission deadline.Â
When It Ends:
Ongoing
Deadline:
Rolling deadline