Grants for February 2019

Funding is coming for Automotive Industry

I wanted to share the exciting news for the Ontario automotive sector that went public just before the holiday. Ontario government allocated $40 million to transform the provincial automotive industry. The Future of Ontario’s Automotive Sector Initiative will include the following streams.

The Ontario Automotive Modernization Program (O-AMP) to assist automotive parts suppliers to become more productive, innovative and export-focused through the adoption of technology. O-AMP builds off the Automotive Supplier Competitiveness Improvement Program (ASCIP) that currently provides up to $100,000 in non-repayable government funding to the Ontario, automotive industry suppliers.

Other streams include the funding for skills training, learning, internships and apprenticeship. Last but not least, the funding is allocated for industry-driven autonomous vehicle research & development.

Stay tuned for further updates as the details of the programs will unfold in the next few weeks. In the meantime, check the eligibility of your business for government funding now. Even if you are not in the automotive sector, there are many funding programs your business may qualify for.

This Program is Out of Funding. Are you impacted?

This is a quick update to let you know that the intake of applications for Yves Landry Foundation’s AIME program is now complete. The next intake is anticipated in the late summer of 2019.
The program pays 50% of skills training cost including trainer’s fees, labour cost, travel to the location of training and even meals on training days. Haven’t had a chance to apply? No problem. Fill out the eligibility check form, and we will notify you when the program is back again, or if there is an alternative funding program to cover your upcoming training cost.

CHECK ELIGIBILITY NOW

[Government Funding Tip] What does incurred cost mean?

Today we open up a series of tips that we will be sharing with you. They will help you to understand the hidden nuances of the government funding programs better, select the right project to apply and get funded.

So, today we will look into the nuances of eligible costs. Those costs may include capital, labour or others depending on the program rules.

What is common for all programs is that in order to be eligible the costs must be incurred after the start date of the approved project. What does incurred mean?

1. You can’t pay the cost, partially or fully, prior to the start date set by the government in approval letter or contribution agreement.

2. You must not sign the lease or advance financing towards eligible cost prior to the start date. Securing a line of credit or commercial mortgage is acceptable as long as the money is not advanced.

3. You can’t start the approved project activities prior to the start date. For example, the training can’t start, the equipment can’t be delivered to the production facility, or the person can’t be hired before the start date.

4. Some exceptions apply. Some export development and business expansion funds allow incurring some costs before the project start date or approval date.

If you are still not sure whether your project costs are eligible for government funding, fill out eligibility check form, and one of our funding specialists will get back to you within 2 business days.