Amount: up to 50 percent of eligible costs with up to 100,000 per project.
Northumberland Community Futures Development Corporation just released thriveFORWARD initiative to accelerate sustainable industrial investment in innovation capital across southern Ontario.
Eligibility Criteria
Both startups and SMEs (small- and medium-sized Enterprises) are eligible for thriveFORWARD.
“Startup” means an early-stage technology-driven company that is:
- A registered for-profit incorporated business, partnership or cooperative;
- Located in southern Ontario;
- Formed on or after January 1, 2020; and
- At the pre-revenue/prototype stage to early commercialization stage.
“SME” means:
- A registered industrial for-profit incorporated business, partnership or cooperative;
- Located in southern Ontario;
- Having fewer than 500 full-time equivalent (FTE) employees; and
- Having $100,000 to $100 million in annual revenue declared in Canada during its last complete tax reporting year (or during the last 12 months for monthly and quarterly filers).
Eligible Costs
Eligible costs for project activities may include:
- New incremental labour;
- Expertise;
- Capital; and
- Non-capital.
All costs must be reasonable and directly related to the eligible project activities.
Amount
Startups: performance-based funding matching up to $25,000 in certified incremental private investment as of April 19, 2021, with funding released based upon satisfactory achievement of agreed-upon major milestones demonstrating investment in the adoption of advanced technologies. The leverage minimum is 1:1.
SME: performance-based funding for incremental project activities that invest in innovation capital (talent and technology) with 50% reimbursement of eligible and approved costs up to $100,000 (project leverage minimum 1:1).
Deadline
