Grants for July 2019
I hope you are staying productive this summer and remembering to enjoy the gorgeous weather over the weekend. Meanwhile, our team is working hard to keep you up to date with the government funding programs that are coming out.Â This week we want to share with you theÂ Rural Innovation Initiative Eastern OntarioÂ (RIIEO)Â â€“ Regional StreamProgram.
The purpose of the program is to support projects that accelerate the growth of SMEs on the innovation track, with benefits to multiple communities within Eastern Ontario.
Projects will demonstrate sustainability, drive prosperity and job creation, sustainability through innovation, research and development, commercialization, and business practices that work to position the region for global competitiveness, export markets, and economic diversification.
Selected projects will be eligible for a non-repayable performance-based contribution and require a minimum 50 percent cash contribution by the recipient on eligible expenses net of HST. The minimum project size for an Eastern Ontario Innovation Initiative regional stream project is $200,000 resulting in a minimum contribution of $100,000 by the recipient.
The combined Stream total support to for-profit recipients will not exceed $100,000.
The program is already accepting applications with all projects through 15 Eastern Ontario counties being targeted for completion by December 31st, 2020.
Check eligibility of your company and your project for the government funding byÂ submitting eligibility check form.
Amount: Up to 75% of eligible costs to a maximum of $75,000 for any approved CanExport Innovation Project.
NOTE:Â Starting fiscal year 2019-2020, CanExport Innovation is offered as both a grant and contribution funding program. Eligibility for a grant or contribution will be assessed as part of the Formal Review phase of the Application Review Process.
I’m happy to share some good news aboutÂ CanExport Program.
As of August 22, 2019, theÂ CanExportÂ will increaseÂ project funding limitÂ up to $75,000 to cover up to 75% of eligible expenses. The program will also be expanded to include agriculture, agri-food and agri-products industry, including fish and seafood. Eligible expenses are related toÂ marketing the business or productÂ in a new export market including but not limited to the following:
- Business travel;
- Participation at trade fairs, trade shows, conferences, trade missions;
- Shipping and handling costs related to the participation;
- Translation & interpretation costs;
- Market research;
- Adaptation of marketing tools for a new market; and
- Legal fees associated with a distribution/representation agreement.
In order to make the changes to our systems, theÂ CanExportÂ for SMEs application system will be closed from August 9 to 21 and will re-open on August 22. Any current projects and those submitted before August 9 will continue to have access to a maximum of $50,000 in funding to cover up to 50% of eligible expenses.
Check eligibility of your company and your project for the government fundingÂ by submitting eligibility check form.
Recently, I had a pleasure of contributing to the newest Plant magazine issue and sharing my thoughts on government grants for manufacturing sector. I would like to share this interview with you, in hopes that it will enableÂ you to understand the whole government funding concept better and give you practical tools on how to start the grant application for your business.
Itâ€™s quite the task to stay up to speed on all the government grants a manufacturer can access. â€śThe funding is always changing. Only a handful of programs are over five years old,â€ť says Igor Chigrin, author of a book on the subject (Get Funded) and a government-funding expert at Fair Grant Writing in the Greater Toronto Area. â€śFunding is often limited by changes in government budgets and the government is not that good at communicating changes, but itâ€™s absolutely worthwhile,â€ť Chigrin says. â€śGovernment funding can give manufacturers the cash they need, and often itâ€™s not repayable.â€ťThere are six main categories targeted for government funding:
- Equipment purchasing
- Skills training
- Export marketing
- Research & Development
He suggests identifying the programs you qualify for and make note of the deadlines, the eligibility requirements and the availability of the grants, details that unsuccessful applicants overlook. Itâ€™s mandatory to call the programs to ensure funding is available. â€śItâ€™s always a good idea to establish a relationship with a funding agency early on.â€ť It could take two to six weeks or six to eight months for approval, depending on the requirements. â€śBefore you actually get your money you have to submit claims and demonstrate two things: you have expenses, and you have accomplishments. The main benefit to the manufacturer is productivity improvement. Chances are you will get more funding if this is the case.â€ť Chigrin offers this advice to manufacturers looking to invest access grants and contributions: â€śIf this is the road they want to take, it requires patience.â€ť
Finding adequate funding to invest in your business can be challenging, but there are sources to tap and resources available that point to the best way forward.
Check eligibilityÂ of your company and your project idea byÂ submitting eligibility check form.