FAQs: Investing in Business Innovation (IBI) for Not for Profits
To be eligible for Investing in Business Innovation (IBI) for not for profits one must be either a Research Innovation Centres, an incubator, accelerator, angel network, or a Community Futures Development Corporations (CFDCs) that are located in Southern Ontario.
What type of funding is available from the IBI for NFPs program?
The Investing in Business Innovation (IBI) for not-for-profit funding program is available as a grant for up to 100% of the eligible project costs, to a maximum of $20 million.
What expenses are eligible Investing in Business Innovation funding?
Labour, expertise such as consultants and contractors, non-capital items. Note that capital expenses are not eligible for funding.-
What types of projects are eligible for IBI for not-for-profits funding?
Projects that focus on providing business training and skills development for entrepreneurs and seed funding.
What are the important factors that my organization will be evaluated on?
Your NFP will be evaluated on the success of your prior programming for entrepreneurs, your business model and the skills and expertise of the employees.
How long can a project be under Investing in Business Innovation?
Projects can be any length but must end on December 31, 2018.
What is the deadline for applying to this government funding through the IBI program?
Applications are accepted on a continuous basis and evaluated when they are received. The approval process may take between 60-90 days.
How do I find out more about the IBI program for not-for-profits?
Learn more about Investing in Business Innovation (IBI) for NFPs by choosing from one of the following:
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