As a business, you may be eligible for government funding to help you expand or modernize. Some of the newest and most popular programs are listed here.
Water Saving And Protection Incentives For Businesses
York Region offers a variety of financial incentives for businesses participating in water protection and efficiency programs. The programs are offered to owners and managers of businesses, institutional facilities, farms and multi-unit residences in York Region.
Scientific Research and Experimental Development Tax Incentive (SR&ED)
The Scientific Research and Experimental Development (SR&ED) program is a federal tax incentive program that encourages Canadian businesses of all sizes, in all sectors, to do research and development (R&D) in Canada. It can reduce your after-tax cost between $37 and $61 for every $100 in R&D spending.
Industrial Research Assistance Program (IRAP): Max $10-million Grant
Solving Internal Technical Challenges and Collaborative R&D with Post-Secondary/Research Institutions
The Industrial Research Assistance Program (IRAP) provides a grant (typically 80 per cent direct labour, 50 per cent subcontractor costs) for either internal or third-party collaboration on technical feasibility studies, technology adoption, product development or process development projects, or production design projects.
Eligibility: 1 to 500 people on payroll, incorporated for two or more years, committed to internal R&D activities.
Timelines: Projects require approval prior to spending and funding runs from April 1 to March 31 each year.
Project Themes: Development of innovative products, processes and services. Projects must focus on solving an internal technical challenge by adopting/developing technology and processing enhancements.
Strategic Innovation Fund (SIF): Minimum $10 Million In Grants/Repayable Funding
Innovative R&D, National Ecosystem and Collaboration
The Strategic Innovation Fund (SIF) supports industrial research and technology demonstration that accelerates the commercialization and scale up of Canadian businesses and innovation through collaborative industrial research, development and demonstration projects. Projects must lead to significant job creation, advance the ecosystem/industry and provide benefits to Canada.
Eligibility: Incorporated Canadian businesses with high growth potential and the ability to drive innovation. Must leverage significant private-sector co-investments.
Timeline: Streams 1 to 3 and 5 offer continuous intake and stream 4 has annual intake dates. Projects can go beyond five years.
Project Themes: Innovative technology research, development and commercialization, business expansion, capital investment and collaborative R&D with post-secondary or research institutions.
Business Scale-up And Productivity (BSP) Program: 0 Per Cent Interest Loan/Up To 25 Per Cent Eligible Expenses
Large-Scale Business Expansion Projects
The Business Scale-up and Productivity (BSP) program helps businesses adopt/adapt innovative technologies that support productivity, grow Southern Ontario operations and increase exports to global markets. It is targeted towards large-scale expansion projects where new innovative technologies will be used to develop globally competitive products, services or processes.
Eligibility: Must maintain profitable operations in Southern Ontario for two or more years, have five or more employees, and be an incorporated business or Indigenous organization. Minimum spend of $4 million for manufacturers, $1.5 million for software.
Timelines: Continuous application intake. Projects must be completed within three years. Minimum five-year term loan.
Project Themes: Early adoption or adaptation of innovative technologies and processes, expanding management capacity, commercializing/producing new products or processes, and researching/developing export markets.
NGen Manufacturing Program: Up To 44.4 Per Cent Grant For R&D
Collaborative Technology Research and Development
As administered by Next Generation Manufacturing Canada (NGen), the program taps into Innovation Superclusters Initiative (ISI) funding to support groups of businesses that develop high potential technologies, create groundbreaking process transformation and de-risk the adoption of technology to help manufacturers compete globally.
Eligibility: Projects must be transformational in scale or impact, and be of wider benefit to Canada’s advanced manufacturing ecosystem. Must have a minimum of three private-sector project partners; all NGen members.
Timeline: Open two-stage application process including an Expression of Interest (EOI) and, if called forward, a full application. Expected project length is 18 to 36 months; all projects must be complete by March 31, 2023.
Project Themes: Collaborative technology development and application. Should have wide-reaching impacts that expand the potential of Canadian manufacturers, even those not directly involved in the project.
Ontario Automotive Modernization Program (OAMPNgen Manufacturing Program: Up To 44.4 Per Cent Grant For R&D): Up To $100,000/50 Per Cent Grant
Technology Adoption for Manufacturing Productivity Enhancement
OAMP helps automotive businesses improve productivity through technology adoption projects. It builds off the success of the former Automotive Supplier Competitiveness Improvement Program (ASCIP) and focuses on integrating innovative equipment that reduces costs and expands manufacturing capabilities.
Eligibility: Ontario automotive-related manufacturing businesses with less than 500 employees and less than $1 billion annual revenue globally. At least 50 per cent of revenue must come from the automotive supply sector. Two or more years of financial statements.
Timelines: The application period for fall 2020 is now closed. Information about future application rounds will be announced in winter 2021.
Project Themes: Adopting new manufacturing technologies to spur productivity and innovation.
CanExport: Up To 75 Per Cent To A Maximum $75,000 Per Application Grant
International Trade Shows, Marketing and Translation Costs
CanExport supports marketing activities in high-potential markets where less than $100,000 or 10 per cent of international sales have been generated in the past 24 months. Projects should focus on improving sales and brand exposure in international markets, including exhibiting at trade shows.
Eligibility: 1 or more years incorporated with taxes filed, 1 to 500 FTE employees, and $100,000 to $100 million in annual revenue. Budget must be greater than $20,000 for one market where less than $20,000 or 10 per cent of international sales have been generated in the past 24 months.
Timeline: Continuous intake of applications. Apply at least six weeks ahead of incurring eligible project expenses. Up to two applications can be submitted per government fiscal year, but only one project can be open at a time.
Project Themes: Marketing activities including trade shows, marketing material translation and market research.
Canada-Ontario Job Grant (COJG): Up To $10,000 Per Trainee
Workforce Training for Skills Development
The Canada-Ontario Job Grant provides direct financial support to individual employers or employer consortia who wish to purchase training for their employees. It is available to small, medium and large businesses with a plan to deliver short-term training to existing and new employees.
Eligibility: Canadian-based SME with $2-million liability insurance. Trainee must be a permanent Canadian citizen or granted refugee status. Trainer must be a separate entity from applicant company.
Timeline: Training must be completed within 12 months of application approval.
Training Themes: Post-secondary, technical skills, leadership, marketing, business systems, etc.