Research and Prototyping in Development (iRAPID) Program
$10,000.00
Grant
Description:
The IION- Research and Prototyping in Development (iRAPID) Program accelerates commercialization activities for incorporated innovative companies who need assistance with their product development/prototyping projects. Emphasis will be placed on companies who demonstrate the potential to create jobs and grow the economy through their new product, process or service development.
Comments on Funding:
Funding is up to 50% of eligible costs, before tax, at one of three funding levels:
Level 1: $2,500 grant for a minimum project spend before tax of $5,000
Level 2: $5,000 grant for a minimum project spend before tax of $10,000
Level 2: $7,500 grant for a minimum project spend before tax of $15,000
Level 3: $10,000 grant for a minimum project spend before tax of $20,000
Projects will be reimbursed upon receipt of final invoice(s) and proof of payment to be completed within a 6-month time frame.
Continuous Intake
Eligibility:
The applicant must be:
1. a for-profit incorporated entity,
2. located in the district of Nipissing, Timiskaming, Parry Sound or Muskoka,
3. looking to develop its ability to advance the growth of its business along the commercialization path through a project as defined by the program objectives.
The program is not intended to support, nor is applicable to, businesses operating as distributors or re-sellers.
Application Steps:
Applicants must download, complete, sign and submit the online application form.
To ensure clarity on the program and it’s qualifying conditions, applicants are strongly encouraged to contact IION prior to applying.
Applications must be received prior to incurring costs associated with the project and are subject to a monthly competitive review process.
Documentation Needed:
Applicants must submit:
1. the completed application form;
2. two contractor quotes where applicable and identify the contractor they have selected in the application form.
Other Things to Note:
About the author
Maurice
