SMART Advanced Technologies for Global Growth (CME SMART) provides non-repayable government grant that covers 35% of the cost of technologically advanced machinery and equipment up to a maximum of $100,000. The program also provides government funding for small to medium sized businesses in Ontario for productivity improvement, software upgrade, equipment installation and tooling.
Eligibility Criteria: SMART Advanced Technologies for Global Growth (CME SMART Program)
- Companies are not required to be a member of CME to be eligible.
- Must be a manufacturer based in Southern Ontario per the census map.
- Must be an exporter or implementing a project that will provide an export opportunity.
- Must be an incorporated business for 2 years or more.
- Must have 15 (minimum per facility) and 1,000 employees maximum per corporation within Ontario operations only (including subsidiaries). Minimum of 15 employees is required from date of submission throughout the lifecycle of the project.
- Funding is available for only one project per corporation (including subsidiary companies or same ownership).
- Previous successful applicants of SMART funding may be eligible, however a cumulative amount can not exceed $100,000
Eligible Cost: SMART Advanced Technologies for Global Growth (CME SMART Program)
- Advanced Machinery and Equipment. Note: modifications to existing capital equipment requires an audit prior to commencing the project and will require a final audit prior to final expense claims being approved.
- Software related to manufacturing process and enterprise management (ERP, MRP) and hardware (terminals, bar code readers)
- Installation Cost (3rd party installation only)
- Tooling Cost
- Consulting Fees
- External Administration (maximum 5% of eligible and supported costs)
- Independent Market Assessment or Feasibility Study by a SMART approved consultant who conforms to guidelines, such as Win Global Partners (funding for this activity is limited to $15,000)
- Writing Export Market Assessments (FedNor Program Only. Win Global Partner is a Qualified )
- Writing Business Case for SMART Advanced Technologies for Global Growth (CME SMART);
- Profitability Analysis of the Proposed Project;
- Assisting in Writing Application Package;
- Assisting in Report Writing.
Examples of Projects Funded by CME SMART Advanced Technologies for Global Growth Program
1. OZ Optics Limited. OZ Optics Limited will use the funding provided by CME SMART Advanced Technologies for Global Growth program to automate and optimize a laser writing process. This will allow the company to manufacture better devices and at a faster rate. It will also help develop new devices for advanced applications. In addition to designing and manufacturing components and test equipment for fiber optics markets, the company offers fiber optic sensor systems for remote monitoring of oil and gas pipelines, wells, refineries, bridges, dams and other large structures, security fences and for fire detection. (Source)