Industry Canada funding, administered by FedDev Ontario
What is it?
FedDev's Prosperity Initiative for Ontario announced in November 2010, is a four year, $210 million program. Its focus is on:
- the adaptation and adoption of new technologies, processes and skills aimed at enhancing productivity;
- the development of new industries or opportunities to diversify a community or regional economy; and
- the development and expansion of strategic economic clusters that will have an impact on the global economy.
There are three components of the program:
- Productivity Enhancements, by accelerating the adoption of new technologies, processes and skills to enhance businesses and sectors in southern Ontario to achieve higher output in relation to their investments;
- Regional Diversification, by increasing the number of new industries or opportunities in southern Ontario communities or regions with the potential to have long-term impacts on their economic diversity; and
- Building a Competitive Advantage for southern Ontario, by building on the assets and strengths of southern Ontario businesses and regions to create or expand economic clusters and enhance their global competitiveness.
What is the benefit to your company?
Eligible recipients could receive funding of up to $20 million per project.
Eligible recipients vary according to each of the three components of the program and can include businesses, not-for-profit corporations and post-secondary institutions. Please refer to the program guidelines online for further details.
Eligible projects will:
- enhance productivity by accelerating the adoption of new technologies, processes and skills that enhance the region's businesses and sectors;
- diversify the regional economy by increasing the number of new industries or opportunities with the potential to have long-term impacts on regional economic diversity; and
- build a competitive advantage in the region by creating or expanding economic clusters and enhancing their global competitiveness.
How do I apply?
Applications are being accepted on an ongoing basis.
Note this is a two-phased application process. Please refer to the Prosperity Initiative Guidelines to ensure your organization is an eligible recipient and your proposal activities and objectives fit within the Prosperity Initiative objective and criteria.
It is recommended that you contact FedDev to discuss your proposal in advance of submission.
Where can I find more information?
For more information, please refer to the Program Guidelines available on the FedDev Ontario website.
We're here to help!
To find out how the Business Development Branch at OMAFRA can provide you with knowledge, connections and resources to help you grow your business, call toll-free at 1 888-466-2372 ext 63486 or email at firstname.lastname@example.org.