Innovation Growth Program

By mmuise
Description:

The Innovation Growth Program (IGP) provides cost-sharing assistance to Small and Medium-Sized Enterprises (SMEs) to assist them in developing and commercializing new innovative products and processes. Under the IGP, firms may apply for a non-repayable grant of up to $100,000 to cost-share eligible expenses on a 50/50 basis.


Comments on Funding:

1. Funding takes the form of a non-repayable grant of up to $100,000 per project to cost share eligible expenses on a 50/50 cost shared basis.
2. At least 50 per cent of eligible project costs must be supported by non-government sources and funding from non-government sources must be confirmed at the time of application.
3. Funding is capped at $100,000 per new project per corporation, including any affiliated corporations (same controlling shareholder or group of shareholders). An applicant may only have one active project in process at any given time.

Deadline: March 15, 2024
Eligibility:

Applicants must:

  • be for-profit, taxable Canadian Controlled Private Corporations with a permanent establishment in Manitoba that pay at least 50% of total salaries and wages to Manitoba resident employees.
  • have an annual revenue of $15 million or less, or fewer than 100 full time equivalent employees, including its affiliates on a consolidated basis.
  • demonstrate owner investment of $25,000 in cash equity invested in the business prior to application. Cash equity is defined as common or preferred share capital and / or retained earnings.
  • Project activities must be completed (incurred and paid) within one year of the application intake closing date.
Application Steps:

-

Documentation Needed:

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Other Things to Note:

Application closing dates:
- December 15, 2023
- March 15, 2024

About the author
mmuise