Business Funding Grant for Industry Investment Projects
Editor’s Note: Since this article’s posting, TECTERRA funding programs have been re-launched to provide enhanced support. For details of these new funding streams, visit Mentor Works’ TECTERRA program page.
TECTERRA is a Canadian government funding program that enables Canadian companies to build innovative geomatic solutions to market. Specifically, this grant funding for business supports the development and commercialization of new geomatics solutions with a focus on Integrated Resources Management sector; though projects for the development and commercialization of geomatics technology in other sectors will also be considered.
TECTERRA Industry Investment Program (IND) Overview
TECTERRA’s Industry Investment Program provides small business funding grants that can be used for the following:
- Technology development
- Manufacturing readiness
- Channel development
- Expenses related to commercialization of new products
Eligible applicants can receive up to $10K-$500K or 50% in small business government grants to cover project costs. To be eligible for this funding for small business program, you need to be an SME or start-up that is incorporated or operating in Canada. You cannot have more than 500 full-time employees and revenue should not exceed $50 million. Eligible projects will provide full-time employment for at least one new highly qualified personnel.
Canadian Government Funding Eligibility
Projects could be one of two categories:
- Idea-to implementation: Up to two years in duration involving applied research and development of technology targeting specific application with defined commercialization plan in specific market
- Implementation: Up to one year in duration involving development of product or service based on early stage technology with defined commercialization plan in specific market
Eligible activities may include:
- Direct project expenses
- Actual and direct expenses
- Labour costs
- Lab and equipment
- Capital expenses not exceeding 10% of contribution
Additional Small Business Grant Funding Support
The Industry Investment Program is currently closed and not accepting any proposals. However, there are still many Canadian government funding programs available through TECTERRA and other organizations. Be sure to contact one of our Canadian Government Funding Experts, or sign-up for a 60-Minute Workshop to learn more about these funding for small business programs. Additionally, you can receive current updates on government funding mechanisms by following us on LinkedIn or Twitter.