SWODF Business Stream
The Southwestern Ontario Development Fund (SWODF) offers funding through the “Business Stream” for business development and the expansion of SMEs located in the Southwestern Ontario region, with a focus on creating jobs, attracting new investments and facilitating new business initiatives. Funding can be used to support projects that involve investing in new capital equipment, developing skills, enhancing productivity, and developing new infrastructure. These sectors are eligible for funding through SWODF: Advanced Manufacturing, Life Sciences, Processing (primary and secondary), Tourism, Information and Communication Technology and Cultural Industries.
Amount: Up to 15% of eligible expenses, up to a maximum of $1.5 million in non-repayable grant funding for projects with budgets up to $10 million. Projects with budgets that exceed this amount may be eligible to receive a repayable government loan of up to $5 million.
Timeline: Open, accepting applications.
Eligibility: Applicants must have been established for at least 3 years, have 10 or more full-time employees, and be located in Southwestern Ontario. Projects must be completed within a 2-4 year timeline and create at least 10 new full-time positions depending upon project size and company size.
SWODF Regional Stream
The Southwestern Ontario Development Fund offers a Regional Stream of funding to support initiatives initiated by communities to develop new economic opportunities through encouraging collaboration and clustering, attracting new businesses, and creating and sustaining jobs. Sectors eligible for funding under this stream are: Advanced Manufacturing, Processing (primary and secondary), Life Sciences, Information and Communication Technology, Tourism and Cultural Industries.
Amount: Up to 50% of project costs to a maximum of $1.5 million as a conditional grant. Projects must have a minimum budget of $100,000 to be considered for funding.
Eligibility: Incorporated community or industry organizations with a minimum of 3 years of business. Organizations must be located in and execute their projects in Southwestern Ontario. Projects must be completed within 4 years.