The CME have released an update on available funding for 2011 – the Provincial Government of Ontario has decided not to recapitalize funding of the program in 2011 after the $4.2M that was awarded in February 2011. The dedicated funds will instead be utilized to eliminate deficit and bolster healthcare and education.
It is not all bad news though; manufacturers can seek funding in other areas that have been given greater focus. The government is encouraging manufacturers to work with universities and colleges in new research and development projects, fueled by multiple funding mechanisms including:
- NSERC Engage: Addresses a company specific research & development problem.
- CONII: Facilitates commercialization, technology transfer, and adaptation and adoption of new technologies.
- Applied Research and Commercialization Initiative: Pilot-scale program that addresses the gap between research and commercialization.
- MITACS Accelerate Ontario: Fuels innovative research projects to support research & development challenges.
In fact, the Government of Canada is investing approximately $309 million into university and college collaboration projects by 2013-2014. A considerable amount of funding that all manufacturing companies should consider tapping into.
The Government of Canada is also supporting summer employment by investing $22.4 million into their Summer Jobs Strategy in 2011-2012. Small businesses can receive support through the Youth Employment Program, Targeted Wage Subsidy, and Summer Jobs to receive wage subsidies for hiring summer and graduate youth employees.
If you would like to learn more about the government funding mechanisms available to your business, please attend one of our free Mentor Works workshops. And be sure to follow us on Facebook, LinkedIn, and Twitter to stay up-to-date on all the latest government funding opportunities.