FedDev Ontario Business Scale-up and Productivity (2022)

Description:

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.

Comments on Funding:

Funding is up to 35% of eligible project costs and ranges from $500,000 up to $10 million per project. Funding is a no-interest, repayable contribution.
Applicants must provide minimum 65% funding for the project.
Total government funding for a project is up to 75% of eligible non-capital costs and up to 50% of eligible capital costs.

Eligibility:

Applicants must be:

  • Canadian or provincially incorporated businesses
  • Indigenous organizations such as Indigenous-owned businesses
  • Co-operatives
  • Located in southern Ontario
  • Legal entities capable of entering into legally binding agreements.
  • be able to provide a minimum of 65% project funding;
  • normally have a minimum of five (5) full time employees.
  • have sustainable business model;
  • have the financial capacity to complete the project and repay the contribution in full;
  •  demonstrate managerial, technical, and operational capacity to achieve the project’s stated objectives in a timely manner;
  • demonstrate 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).
  • demonstrate potential for market growth, diversification of export markets and/or participation in global value chains;
  • have a viable project plan with achievable outcomes, supported by verifiable cost estimates.

This Stream is not intended to support smaller start ups and entrepreneurs. 

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.

Other Things to Note:

All project activities must be completed by December 31, 2023.

Testimonials:

Bridgit builds simplicity into construction project management platform

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