Automotive Supplier Innovation Program: Up to $10M in Government Grants

Automotive Supplier Innovation Program Canadian Government Grants

In order for Canada to become internationally competitive in the automotive industry, our nation must become leaders in product and process improvements. Leveraging knowledge-based resources such as skilled labourers, researchers, and state-of-the art equipment will help Canadian firms to develop a sustainable competitive advantage.

Thankfully, the Government of Canada supports automotive industry competitiveness by offering grants and loans to growing, innovative suppliers. Companies focused on developing new products or processes that lead to increased revenues may be able to receive funding from a variety of automotive grants, including the Automotive Supplier Innovation Fund (ASIP) industry-specific grant.

ASIP grants for automotive suppliers will fund up to 50% of eligible project expenses to a maximum of $10 million. Companies may fund multiple projects through ASIP, so manufacturers committed to technology development projects should leverage ASIP on an ongoing basis to secure project funding.

Types of Projects Most Suitable for ASIP Automotive Grants

ASIP grants are specifically designed to enhance technology development projects. Technology research and development projects (including technology prototyping and demonstrations) receive top priority, however many projects may be accepted including:

  • Innovative product or process development;
  • Designing, engineering, or prototyping new technologies; and
  • Testing and validation to become ready for commercialization.

Please Note: ASIP projects must have a technology readiness level (TRL) of 4-7.

Applicants Eligible for the Automotive Supplier Innovation Program

Automotive grants supported through the ASIP program are aimed towards small and medium-sized automotive suppliers. For this reason, businesses must meet the following eligibility criteria before applying:

  • Automotive suppliers must be incorporated;
  • Must have less than 500 full-time equivalent (FTE) employees; and
  • Must earn less than $1 billion in annual revenues, including those earned outside of Canada (if applicable).

ASIP Automotive Funding Success Stories

Since ASIP was launched in 2015, many projects have successfully been awarded ASIP automotive grants. Here’s a collection of articles to assist automotive manufacturers:

How to Apply for the Automotive Supplier Innovation Fund

To apply for the Automotive Supplier Innovation Fund (ASIP), manufacturers must submit an application form outlining their project. This includes a full description of the innovation, how it will benefit the business, benefits to the industry or to science as a whole, and how government funding will enable the project’s success.

Applications typically take 6-8 weeks to review. Once the review is completed, manufacturers will be notified and may begin their project.

If you would like to discuss your project’s fit for the ASIP or would like to receive application support, please contact Mentor Works.

Learn More About Automotive Supplier Innovation Fund Grants

Get Started     Program Overview     Eligibility Criteria

Recent ASIP Automotive Grants Funding News:

Leave a Reply

Your email address will not be published.