CAMBRIDGE, ONTARIO–(Marketwire – Sept. 12, 2012) :
The Sustainable Development Technology Canada (SDTC) is a not-for profit organization that supports the development and demonstration of clean technologies. It helps bridge the financial gap in the innovation chain and allows for the development of new products and services to provide solutions to climate change, water quality and soil, clean air thus delivering benefits to Canada’s economy, health and environment. Having completed 19 Canadian government funding rounds and provided 228 eligible projects with a total of $560 million, SDTC has helped build a sustainable development technology infrastructure in Canada through two main funding for small business programs: SD Tech Fund and NextGen Biofuels.
Business Funding Grants via SD Tech Fund
The SD Tech Fund was launched in April 4, 2002 and its main initiative is to develop and demonstrate emerging clean technologies. This government funding program contributes Canadian government funding of up to 33% of eligible project costs and businesses often become venture grade or bankable at the end of the project. This funding has two phases that includes the Statement of Interest (SOI) and Proposals by Invitation that is a solid business plan. Funding for small business eligibility requirements includes technology being beyond proof of concept and in the pre-commercialization stage with commercialization at the end of the project. Corporations and partnerships are eligible for this grant funding for business with eligible project costs including professional and technical personnel costs, technical, environmental, management and reporting activities, cost of capital items with no residual value. Projects eligible to receive Canadian government grants should involve a moderate level of technology risk and technological barriers need to be outlined. This research and developing funding program will be accepting applications between September 5th, 2012 and October 24th, 2012.
NextGen Biofuels Fund
The NextGen biofuels funding for small business program was first launched in September 12, 2007 and helps establish large demonstration-scale facilities for next-generation renewable fuels and products. The NextGen Biofuels Fund is for any Canadian research and development project relating to large-scale commercialization of innovative renewable fuel technology. The majority of current generation biofuels are starch-based, relying on crops such as corn and wheat. Industry Canada is searching for a more sustainable metric that does not demand as much energy to produce or contribute to fluctuations in food prices and supply. The $500 million fund size contributes 40% in business funding grants up to $200 million. Costs can be incurred from the time that the project is accepted until March 31, 2017. This support is given on a repayment term, where applicants pay back the funding via general cash flows after project completion. Eligible costs, as outlined by Industry Canada, include: costs for initial project definition and assessment, contract costs, costs for production systems, equipment, environmental assessment, salary an contract costs. Companies eligible for this Canadian government funding must be located in Canada and demonstrate the technology at the pre-commercial pilot scale.
Mentor Works Ltd.: Canadian Government Funding Expert
Mentor Works Ltd. is an Ontario-based company that specializes in offering support in finding appropriate Canadian government funding programs to solve strategic challenges in small businesses. Bernadeen McLeod is the principal behind the company and the Mentor Works team have considerable expertise in government funding, both on a federal and provincial level. Mentor Works’ value is to find, position, and secure grant funding and low interest loans for SMEs. Companies interested in learning more about Canadian business grants, loans, and tax credits for small businesses are encouraged to subscribe to the Mentor Works Canadian Government Funding E-Newsletter or visit https://www.mentorworks.ca for more details.
- Mentor Works Ltd.
Burlington Office: 1100 Burloak Drive, Suite 300
Cambridge Office: 151 Savage Drive, Unit 1BMentor Works Ltd.
Mobile: (519) 497-8584Mentor Works Ltd.
Mobile: (226) 808-0082