INVEST North Program: Investment – Launch Stream

By mmuise
Description:

The Investment - Launch Stream provides a conditional contribution of up to 50% of total eligible project costs to a maximum of $200,000 for businesses starting-up operations in Northern Ontario.


Comments on Funding:

Funding is in the form of a conditional contribution of up to 50% of total eligible project costs to a maximum of $200,000, out of which:
- marketing for new products and business initiatives are limited to a maximum of 20% of all other eligible project costs, or $75,000, whichever is less;
- training costs incurred with third parties are limited to a maximum of 20% of all other eligible project costs.

Combined federal and provincial government funding may not exceed 50% of eligible project costs.
Funding for each project is determined by the NOHFC Board of Directors, and limited funding is available. Not all projects meeting the criteria will necessarily receive funding.

Deadline: Currently accepting applications
Eligibility:

Applicants:

  • must be businesses starting-up operations in Northern Ontario (have been operating for 6 months or less before they submit their initial application to the NOHFC for funding);
  • are expected to operate on a full-time basis and the entrepreneur/owner must work at the business on a full-time basis;
  • are required to contribute (from their own resources) an amount equal to at least 15% of total eligible project costs towards the project.
    The applicant is expected to secure balance of funding/financing necessary to implement the project.
    The applicant may be required to reimburse NOHFC if assets financed by NOHFC are sold after project completion.
Application Steps:

The applicant must:

1. create an online account using the form on the Northern Ontario Heritage Fund Corporation (NOHFC) website,

2. follow the onscreen instructions to complete each section of the application,

3. click "Submit application".

NOHFC will contact the applicant in 2 to 4 weeks!

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

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About the author
mmuise