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.