Industry 4.0 Funding is here

A crucial part of a post-COVID economic recovery in manufacturing is improving productivity and re-shoring through the adoption of Industry 4.0 solutions. But which Industry 4.0 solution is right for you? Now that the government provides 100% reimbursement of Industry 4.0 assessment cost, you can get the answer free of charge.

Technology Assessment Program run by the Canadian Manufacturers & Exporters (CME) reimburses 100% of Industry 4.0 assessment cost up to a maximum of $25,000. You must be a manufacturer located in Ontario and have at least 15 employees at the time of the application.

The assessment must be conducted by one of the qualified providers listed on the program’s website. For example, our friends at Memex are such providers.

You can use these funds toward a pilot (proof of concept) to install Industry 4.0, IIoT software on your machines and assess the benefit to your business. With Data-Driven Manufacturing, there is often a 10% to 50% improvement in efficiency driving profits and competitive edge. This is what the federal government wants for Ontario manufacturers, so much so, they will fund it.

If you are considering getting into real-time machine monitoring, take the following steps.

1. Fill out your contact details to pre-qualify here https://cme-mec.ca/technology-assessment-pre-qualify-now. It will take 2 minutes.
2. You will be sent an intake form to determine eligibility.
3. When filling out that form, ensure you specify Memex as the Qualified Service Provider (QSP), use QSP number QSP2020012.
4. CME accepts you to the program.
5. Memex provides you with a quotation, including a budget for the assessment project.
6. You send in the Memex proposal to CME, attach to your application.
7. CME accepts your application within 10 business days and gives the authorization to proceed.
8. Memex performs the assessment and delivers a final report within 90 days.
9. You submit a Claim Form within 30 days after completing the project to get a reimbursement of 100% of the assessment cost.

If you have any questions about Memex solutions, contact John Rattray, John.Rattray@MemexOEE.com, or call him (416) 460-7637.

Does your business qualify for the above and other government funding programs? Fill out Eligibility Check form at http://www.fgwinc.ca/eligibility to find out.