Amount: Up to 50% of total eligible costs to a maximum of $500,000.

The Invest North Program is designed to boost economic growth in Northern Ontario by encouraging businesses to invest in transformative, strategic and complementary business development opportunities in Northern communities. The program will support productivity, innovation, business competitiveness, revenue growth, export capacity development, job creation and retention.

Investment – Grow Stream

Eligibility Criteria:

Businesses expanding existing operations in Northern Ontario

Eligible Projects:

• Capital construction
• Leasehold improvements
• New or used equipment including capital leases
• Land servicing costs
• Information & communications technology (ICT) investments
• Marketing for new products and business initiatives (limited to a maximum of 20% of all other eligible project costs, or $75,000, whichever is less)
• Training costs incurred with third parties (limited to a maximum of 20% of all other eligible project costs)

Amount:

• The NOHFC holds four application intake rounds during the year for the Grow a Business Stream.
• Funding can be provided through three options:
  • Funding in the form of a conditional contribution only of up to 20% of total eligible costs to a maximum of $400,000.
  • Funding in the form of a conditional contribution of up to 20% of total eligible costs to a maximum of $400,000, plus a term loan of up to 30% of total eligible costs to a maximum of $600,000.
  • Funding in the form of term loan only of up to 50% of total eligible costs to a maximum of $1,000,000.

Deadline:

Detailed business plan submission deadline January 31.3

Innovation Stream

Eligibility Criteria:

• Private-sector businesses alone, or in partnership with a public sector academic or research institution.
• For public-private partnership projects, the private-sector business is the lead applicant and the funding recipient.
• For public-private partnership projects, the partnering academic or research institution must have the relevant expertise and resources required by the private-sector partner to complete the proposed project.

Eligible Projects:

Applied research & development projects, and demonstration & commercialization of new and innovative technologies.

Amount:

Funding for Applied Research and Development only projects:

• Funding is in the form of a conditional contribution of up to 50% of total eligible costs to a maximum of $500,000.

Funding for Applied Research & Development and Demonstration & Commercialization Combined or Demonstration & Commercialization only projects:

• Funding is in the form of a conditional contribution of up to 50% of total eligible costs to a maximum of $2 million.

Combined Federal and Provincial government funding may not exceed 75% of eligible project costs.