Business Scale-up and Productivity stream 1 under Rural Growth and Innovation in Southern Ontario
$10,000,000.00
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.
Applications are closed. Stay tuned for future intake announcements.
Eligibility:
Applicants must:
1. be Canadian or provincially incorporated businesses,
2. be Indigenous organizations such as Indigenous-owned businesses,
3. be co-operatives, 4. be located in southern Ontario,
5. be legal entities capable of entering into legally binding agreements;
6. be able to provide a minimum of 65% project funding;
7. normally have a minimum of five (5) full time employees;
8. have sustainable business model;
9. have the financial capacity to complete the project and repay the contribution in full;
10. demonstrate managerial, technical, and operational capacity to achieve the project’s stated objectives in a timely manner;
11. 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).
12. demonstrate potential for market growth, diversification of export markets and/or participation in global value chains;
12 . 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.
Application 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:
1. evidence of project funding,
2. 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),
3. a viable project plan with achievable outcomes, supported by verifiable cost estimates.
Other Things to Note:
Projects that support the government’s commitment to inclusive growth (i.e., women, Indigenous peoples and LGBTQ2+ communities) and Official Language Minority Communities may be given priority.
Date modified: 2019-02-27
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Maurice
