The Advanced Manufacturing and Innovation Competitiveness Stream or AMIC is back and will start accepting applications as of August 10, 2022. This fund is aimed to provide financial support to Ontario-based advanced manufacturing companies with a focus on small and medium-sized enterprises. It will support investments in capital equipment, technology adoption and skills development.
Eligibility Criteria:
- Have at least three years of operations/financial statements.
- Employ at least 10 people.
- Commit to creating at least five new jobs and/or upskilled current jobs.
- Invest at least $500K in their project.
- Be located in, or plan to locate in, a community in Ontario.
Eligible Activities:
- Create jobs and build talent.
- Attract and encourage private sector investment.
- Help companies to adopt technologies that improve their competitiveness.
- Lead to business growth and broad positive economic impacts.
- Encourage innovation, collaboration, and cluster development.
Funding
Up to 15% of project cost, interest-free during the project period (loan for up to four years). Grants are available only for specific circumstances for:
- small companies located in rural communities
- strategic projects that are foreign direct investments or from companies competing against other jurisdictions
- companies with significant reshoring projects.
Deadline
Application opening: August 10, 2022 – September 22, 2022
Need help with this or other government funding programs but don’t know where to start or how to prepare an application?