As you may have heard, last week the Ontario Government announced its budget for the 2017-2018 fiscal year. Let me highlight the most important commitments and how they impact provincial government funding programs for businesses. Should you have any questions on any of the programs or want to check whether your business is eligible, simply respond to this email or fill out the eligibility check form.
- New Scale-Up Voucher program is announced to help high-impact firms secure funding to improve their access to business development tools and services. The details will follow.
- Ontario Jobs and Prosperity Fund (OJPF) will continue accepting applications.
- Small Business Innovation Challenge will allow the businesses to sell their products to the Ontario Government. This program is similar to the federal procurement Build in Canada Innovation Program (BCIP).
Hardware, Software Adoption, and Skills Training
- Automotive Supplier Competitiveness Improvement Program (ASCIP) will support the automotive parts sector in adopting industry-leading software and hardware and to provide related training.
- Canada-Ontario Job Grant (COJG) for skills training has been modified to expand eligibility and the maximum amount of funding to $15,000 per trainee.
Export Business Development
- More funding to help SMEs become exporters and assist existing ones to reach new global markets and diversify their revenue source. It means that Export Market Access (EMA) and Ontario Exporters Fund (OEF) will be renewed shortly. A new funding program for export development (trade shows, trade missions, export marketing) may also be launched.
Research & Development
- College Applied Research and Development Fund is established to support industry-academic collaboration between Ontario businesses and colleges.
Regional Economic Development
- Southwestern Ontario Development Fund (SWODF), Eastern Ontario Development Fund (EODF), Northern Ontario Heritage Fund (NOHFC) and other regional development programs will continue accepting applications.
- More funding for Mitacs Accelerate and Ontario Centres of Excellence (OCE) TalentEdge programs to create more internships for future and recent graduates.
- New Career Ready Fund will be launched to help post-secondary institutions and employers create more opportunities for students and recent graduates.
Energy Efficiency and Greenhouse Gas Emissions Reduction
- Green Ontario Fund will help you adopt proven low-carbon technologies and reduce their carbon emissions.
- Industrial Conservation Initiative, which helps large electricity users reduce their bills by providing an incentive to shift electricity consumption to off‐peak hours, was expanded.
Should you have any questions on any of the above programs or want to check whether your business is eligible, simply respond to this email or fill out the eligibility check form.