Amount:

$10,000,000

Type of Program:

Loan


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.


When It Ends:

Ongoing

Deadline:

Rolling deadline

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:

1

Applicants are strongly encouraged to contact FedDev Ontario prior to submitting an application. 

2

FedDev Ontario has a single-phase application process and one Application for Funding that is used across all three Streams of innovation programming.

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.

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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