As part of Canada’s economic action plan FedDev Ontario (Federal Economic Development Agency for Southern Ontario) recently launched three funds for Canadian businesses:
- Investing in Business Innovation
- Investing in Business Growth and Productivity
- Advanced Manufacturing Fund
What is the difference? How do you know which FedDev Ontario fund is right for you?
Here’s the guidance how to choose the right program. First, You need to answer 2 questions:
- What is the budget of your project?
- How big is your company?
Let’s look at these 3 FedDev Ontario Funds:
- Investing in Business Innovation is funding for young startups or companies under 15 full-time employees. The limit of the budget the government can contribute is $1,000,000.
- Investing in Business Growth and Productivity is a FedDev Ontario Program for mature companies employing more than 15 full-time employees and looking for the funding under $10,000,000.
- Advanced Manufacturing Fund is a fund for large or medium sized companies looking for a minimum $10,000,000 from the government.
About FedDev Ontario
Federal Economic Development Agency for Southern Ontario is a key Canadian development agency. Through helping businesses become more competitive, innovative and productive, FedDev Ontario works to foster economic growth in southern Ontario. As part of its work with southern Ontario communities, FedDev assists in the development and diversification of the local economy.
If you have any questions about these programs or wonder if you are eligible, call (647) 800-5006 or fill out eligibility check form.
