CME SMART Advanced Technologies for Global Growth Program: Now Live
The Advanced Manufacturing Summit in Hamilton, Ontario was the backdrop to a significant funding announcement on November 17, 2014. The Canadian Manufacturers & Exporters (CME) association received $20 million in funding for its CME SMART Advanced Technologies for Global Growth grant program. The program is being supported by the FedDev Ontario program, Investing in Business Growth and Productivity Initiative (IBGP). IBGP focuses on helping established businesses expand their operations and invest in productivity improvements to allow them to compete globally.
CME Expects Approximately 200 Manufacturers to Benefit from Grant Funding
According to CME’s Louise Rubletz , expectations are that as many as 200 manufacturers will receive funding through this grant program; this will create more than 1,000 new manufacturing jobs and maintain an additional 2,500 positions. In all, FedDev Ontario is said to anticipate the program to generate between $18 million and $51 million in economic growth from southern Ontario manufacturers.
CME SMART Advanced Technologies for Global Growth: Program Focus
The primary focus of this this Canadian Manufacturers & Exporters (CME) grant program is to accelerate the identification and adoption of investments in advanced technologies specific to the business unit. Projects must have a significant impact on company growth (ie. Revenues, jobs) with a focus on:
- Design, engineering, and virtual manufacturing technologies;
- Processing, fabrication, and assembly;
- Inspection;
- Communications, logistics, and supply chains;
- Automated material handling;
- Integration and control;
- Development and implementation of advanced technologies or product development;
- Manufacturing and control management; and
- Quality management.
According to CME, such projects may include:
CT, robotics, additive manufacturing (ie. 3D printing), sensor-based tech, instrumentation, automated packaging and material handling, nanotechnologies, clean technologies, and innovative advanced communications solutions.” -Canadian Manufacturers & Exporters (CME)
CME SMART Program Details
- Amount: Through this program CME is offering two funding streams: The first is for “Advanced Technology Assessments,” covering up to 50% of eligible costs to a maximum of $15,000 for 3rd party consultants to identify production bottlenecks that can be remedied by the adoption of advanced technologies. The second stream, Advanced Technology Adaptation/Adoption, will support the acquisition of advanced capital equipment, covering up to 35% of eligible expenses to a maximum of $100,000 in grant funding with the goal to improve productivity. Businesses can receive up to $100,000 across both streams throughout the lifetime of the program.
- Timeline: $20M was allocated to this program as of December 1, 2014; projects must be completed within 12 months. Equipment delivered & received prior to Dec 1, 2014 will not be accepted.
- Eligibility: Incorporated for at least 2 years, minimum of 15 employees. Manufacturing operations must be located within southern Ontario. Not necessary to be a member of CME to be eligible. Limited funding so projects will be selected based on impact and ability to leverage project funding. Please note that businesses that have received CME Smart funding in the past can apply, however will be scrutinized on the significance of their project impacts.
Learn How to Leverage CME’s New Funding for Capital Expense Program by Attending a Free Informational Webinar
Mentor Works is holding a Canadian government funding informational webinar on the CME SMART Advanced Technologies for Global Growth program on December 15, 2014 from 11:30-12:00pm. Click on the “Register Now” button to reserve one of the limited number of spots available for the webinar.