Applied Research and Commercialization (ARC) Funding Released
The Canadian Government sector, FedDev Ontario, has announced a top-up of funding to a pre-existing Ontario business grant called the Applied Research and Commercialization Initiative (ARC). The initiative is a Small Business Funding Program for Research and Development projects involving post-secondary collaboration. The program provides funding to accelerate research and development and enhance innovation and commercialization. Projects result in more competitive Canadian firms and post-secondary schools with increased funding.
Canadian Government Funding for Research and Development
The Applied Research and Commercialization Program provides up to $100K in non-repayable business funding grants with a $750,000 maximum company contribution for pre-commercialization and applied research development projects. The company is responsible for contributing the remaining 50% of project costs through in-kind contributions and/or cash to the post-secondary institutions. These types of small business funding grants permit various project activities including: proof of concept, problem solving, product testing, certification, technology development, demonstration and piloting, and product and process applied research. These activities must be carried out in collaboration with an Approved Post-Secondary Institute. Eligible research facilities include the University of Waterloo, Ryerson University, and the Conestoga College Institute of Technology.