Amount: up to $2.5 million to help cover up to 33% of eligible project costs.
The Life Sciences Scale-up Fund (LSSUF) provides financial support to help small-to-medium-sized enterprises (SMEs) scale up in the life sciences sector. LSSUF aims to help build a pipeline of strong innovative SMEs based in Ontario (or intending to relocate to Ontario) that are ready to respond to procurement opportunities.
These SMEs will:
- drive growth and increase competitiveness in the life sciences sector
- foster innovation and commercialize new products for healthcare adoption
- build domestic manufacturing capacity
- strengthen Ontario’s healthcare supply chain and help companies be procurement-ready
Eligibility requirements
To be eligible for funding, life sciences companies in the human health sciences industry must meet all the following requirements:
- be a for-profit company with a business number designated by the Canada Revenue Agency
- have at least two (2) years of operations and financial statements (audited or accountant-reviewed)
- be a small-to-medium-sized company with at least five (5), to a maximum of 500 full-time equivalent employees in Ontario by the project start date
- located in, or plan to locate in a community in Ontario by the project start date
Eligible projects must demonstrate readiness for scale-up or expansion of company operations, be a continuation of work the company has already undertaken, have financing in place and be completed within two (2) years from project start date.
Funding amount
A successful applicant could get up to $2.5 million to help cover up to 33% of eligible project costs.
Timeline
Applications will close on March 3, 2025 at 5p.m.
