Innovation Growth Program
$100,000
Grant
Description:
The IGP provides cost-sharing assistance to Small and Medium-Sized Enterprises (SMEs) to assist them in commercializing new innovative products and processes. The IGP will support SMEs in the development and growth stages of the business life-cycle to reduce the risks associated with the commercialization of innovative products and processes, accelerate growth and strengthen their financial position so they can secure future funding to build their Manitoba-based business.
Comments on Funding:
Firms may apply for a non-repayable grant of up to $100,000 per project to cost-share eligible expenses on a 50/50 basis. An applicant may only have one active project in process at any given time.
Applications are closed. Stay tuned for future intake announcements.
Eligibility:
Applicants must:
1. 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;
2. have an nnual revenue of $15 million or less, or fewer than 100 full time equivalent employees, including its affiliates on a consolidated basis;
3. demonstrate owner investment of $25,000 in cash equity invested in the business prior to application.
Application Steps:
Applicants must:
1. complete the IGP Application Form and supporting documents by the application closing date.
2. send all documents to:
Innovation Growth Program
Manitoba Business, Mining, Trade and Job Creation
Email: ecdevprograms@gov.mb.ca
Phone: 204-945-2475
Documentation Needed:
Appplicants must submit:
1. a completed IGP Application Form in Word format;
2. most recent T2 tax return and year-end Financial Statement including balance sheet and income statement of the applicant (for the last fiscal year) or a completed Start-up Letter;
3. a current Balance Sheet and Income Statement of the applicant (no older than three months);
4. proof of confirmed funding from all other sources at the time of application, including government and non-government;
5. other relevant information, such as business plans, marketing plans and market validation studies, may be included in support of the application.
Other Things to Note:
The IGP is a competitive process and applications will be evaluated against other proposals received during the intake phase. A review panel and subject matter experts, as required, will evaluate full proposals.
About the author
Maurice
