Yves Landry Update on Government Training/Innovation Funds
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Yves Landry Training Initiative for training of teams and productivity improvements has been widely recognized in our region since FEDDEV supported an intake of funds for Southern Ontario SME’s in late Nov 2009. The current situation is that the waiting queue continues as the last application that was accepted or given approval was submitted on or around January 28th, 2010. For the applicants in the queue, they will be reviewed on a first come -first serve basis once new funding is confirmed.
The good news to report is that the federal and provincial queue’s are combined and therefore the AIME initiative has combined the projects into one list and will continue to accept new preliminary applications for training grants.
It is an objective where manufacturing companies can apply for $50k contribution and non-repayable. It includes 75% of direct and indirect labor costs as part of the training initiatives to support innovation. This mechanism focuses on people and productivity improvements where you must select a project that serves either of the two objectives. They are:
Objective 1 – training that will support the adaptation of new technology, new processes or procedures or any change within the company to support innovation.
Objective 2 – training that will support and develop highly skilled personnel in any area that leads to innovation. This can include the development of new engineering skills, training in the use of new equipment or other tools/software to support innovation, retraining to embrace new technologies, new mfg methods or any other business area that will make Ontario Mfg Company more competitive in the global market.
To apply for this maximum contribution of $50k, you must be in business for at least 3 years in Ontario, have between 15-1500 employees and have a product for sale. This government funding mechanism will support training initiatives of internal staff to foster innovation in new materials or processes.
For additional information or support in submitting your application, please do not hesitate to contact Mentor Works Business Consulting services.
About The Author
Bernadeen McLeod
With considerable expertise in government funding, both on a federal and provincial level, Bernadeen has secured grant funding and low interest loans for small-medium size business owners in Southern Ontario. She likes to play to win, and understands the importance of cash flow and margins. She enables her clients to succeed through her passionate belief that there are no boundaries or limits to what can be achieved. Add Bernadeed McLeod to your Google+ Circles.
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