CED Regional Artificial Intelligence Initiative
no fixed amount
Grant, Loan
Description:
The Regional Artificial Intelligence Initiative (RAII) is one of the initiatives announced in Budget 2024 aimed at supporting transformative projects. In this spirit, Canada’s regional development agencies (RDAs) have $200 million to boost the development and commercialization of new technologies and solutions, as well as the accelerated adoption of AI by SMEs. The RAII pays particular attention to sectors critical to the Canadian economy, such as agriculture, clean technology, life sciences and manufacturing, and supports structural projects that generate spin-offs in all regions across the country.
Comments on Funding:
For SMEs
Interest-free repayable financial support up to 50% of authorized costs
For NPOs
Generally non-repayable financial support up to 90% of authorized costs
Costs are eligible from the date the application is submitted.
Continuous Intake
Eligibility:
Applicants must be:
1. SMEs that commercialize or develop AI technologies or solutions, including start-ups
2. SMEs that are ready to adopt AI technologies or solutions
3. NPOs that support SMEs in developing, commercializing or adopting AI technologies
4. Indigenous-led businesses and NPOs, including individual businesses
Application Steps:
Applicants must contact CED for more details
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
About the author
Maurice
