Business Funding Grants for R&D: Emerging Technology Program
The Northern Ontario Heritage Fund Corporation (NOHFC) is accepting applications for their innovative research and development funding program called, The Emerging Technology Program. Businesses in Northern Ontario can receive grant funding for business activities related to the development and commercialization of products and services with strong commercial potential. The program is one of several Canadian Government funding mechanisms offering Small Business Funding Grants to Businesses in Northern Ontario.
NOHFC Canadian Government Funding Details
NOHFC can provide a non-repayable Ontario government funding contribution of $100K or 50% of the eligible project costs. For larger projects, the program can also provide repayable loans up of up to $1M or 50% of the project costs; these would also include capital expenditures. Businesses leaning towards the latter option can also receive up to one-half of their funding support as a conditional grant with the remainder in the form of a repayable loan ($100K grant and $100K loan for a $400K project). Those considered eligible for funding would include organizations from the private or public sector that are also located within one of the districts in Northern Ontario.
Businesses that are not currently operating in one of those locations would be eligible to apply for one of alternative Ontario Government Funding Programs for Research and Development.
Eligible Activities for Small Business Funding Grants
NOHFC’s funding support could be applied to a wide range of products and services. In the past, successful projects to receive funding included those related to IT or communication technologies, film development and production, as well as biotechnology and life sciences. Project eligibility is primarily determined by the commercial potential of the proposed product or services and its ability to create jobs within Northern Ontario. Some of the eligible activities for funding support through this program would include but are not limited to:
- Capital Acquisition and Installation
- Land Servicing
- Staff Training
- Marketing and Commercialization
Certain costs not supported by this program would include those associated with market feasibility studies, business plans, purchases of rolling stock, wages of full time staff, and operating expenses.
Additional Details Regarding NOHFC Ontario Business Grants and Loans
Find more information on these Ontario business grants and small business loans by choosing from one of the following links:
Advice & Support for Canadian Small Business Grants
The Canadian Government offers a large amount of support to Canadian SMEs through their program offerings and funding for small business expansion projects. To receive one-on-one advice and application support, contact one of our Canadian Government Funding Experts or inquire about one of our Canadian Government Funding Workshops. Businesses can also receive regular Ontario Government funding up-dates by signing up for our Canadian Government Funding Weekly E-Newsletter or following us on Twitter and LinkedIn.