As a part of The Federal Government’s Action Plan the Advanced Manufacturing Fund will distribute up to $200 million in funding to small businesses through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).
Advanced Manufacturing Fund to Promote Innovation & Boost Competitiveness
The Advanced Manufacturing Fund will support Ontario businesses that invest in the creation of new and innovative products and production methods. Repayable contributions of up to $20 million per project are available for Ontario-based companies that are manufacturing and/or performing research and development.
Grants Available to Not-for Profits through the Advanced Manufacturing Fund
Non-repayable contributions are also available to not-for-profit and post-secondary institutions that are collaborating with Ontario manufacturers.
Advanced Manufacturing Fund –Details of Funding
Application intake for 2014 and 2015 has been established as follows:
- INTAKE 2014: December 9, 2013 – October 1, 2014;
- INTAKE 2015: January 1, 2015 – October 1, 2015.
The Advanced Manufacturing Fund will contribute from $10 million to $20 million in funding, up to 50% of eligible project costs.
Companies can only have one winning application in 2014, but those who do not win can revise and resubmit their application in 2015.
Repayment of funds begins within one year of project completion.
Advanced Manufacturing Fund –Company Eligibility
Established, For-profit businesses in Ontario that are incorporated in Canada are eligible to apply for the Advanced Manufacturing Fund. In order to qualify, firms must also be:
- Undertaking manufacturing and research and development (R&D) activities in Ontario; or,
- Undertaking manufacturing activities in Ontario; and,
- Have sustainable business model and track record of profitability
Looking for Additional Information on the Advanced Manufacturing Fund (AMF)?
Find out more by choosing from one of the following options:
Ontario Small Business Loans Support Services
Learn more about small business grants and loans programs that are available to help your business overcome financial obstacles to faster, and safer growth. Connect with Mentor Works small business grants and loans experts today. And don’t forget to sign up for our weekly government funding e-newsletter.