In its most recent Federal budget, the Canadian Government has allocated $500M to the Canada Foundation for Innovation (CFI). The investment is one of many Federal Support Initiatives for Research and Development that were announced earlier this month in the 2012 Federal Budget. CFI provides business funding grants to support the purchasing of cutting-edge research equipment by Canadian universities, colleges, and not-for-profit research institutes.
Collaborative Research and Development Funding
The Canada Foundation for Innovation is not scheduled to receive their Canadian Government funding until 2014. However, many Canadian post-secondary institutions are capable of carrying out advanced research and development for private industry at their current level of resources. Ontario Business Grants for Collaborative Research and Development are applicable to Canadian SMEs that are currently experiencing losses to their productivity or competitiveness due to an industry wide problem. Popular government grants for small business collaborative R&D include:
- NSERC Engage Program : Up to $25K in non-refundable research and development funding for businesses that are currently experiencing a technological issue affecting their productivity and growth. Participants are granted IP rights to any solutions arising from the project.
- Colleges Ontario Network for Industry Innovation (CONII) : Up to $25K in small business funding grants for commercialization, technology transfer, and customization/adoption of new technologies in collaboration with a recognized Ontario college.
- IRAP Digital Technology Adoption Program : Up to $100K in non-repayable business funding grants for adoption of new technologies. Businesses will have access to post-secondary expertise regarding the customization and integration of the technology or software to optimize its efficiency.
Next Steps to Receiving Small Business Funding Grants
Those who would like to learn more about the available Small Business Funding Grants for Research and Development can access this information by signing up for our Weekly E-Newsletter or browsing our up-to-date list of Canadian Government Funding Programs. For additional advice or information regarding Canadian Government funding applications, contact one of our Small Business Funding Consultants or attend one of our Free 60 Minute Canadian Government Funding Workshops.