The Investing in Commercialization Partnerships (ICP) is a new grant funding program that supports projects with funding of up to $20 million. Eligible organizations must be not-for-profit organizations that are located in Ontario such as publicly funded colleges and universities, industry associations and research institutions. Not-for-profit organizations must have an industry partner to work with as project is “Business-led” to solve a “Business problem”.
FedDev Government Grants Canada: Funding Details
Offered through FedDev Ontario, the ICP funds up to $20 million, 50% of eligible project costs with the remaining 50% needing to be provided by project partners.
Canadian Governments Grants for Not-For-Profits in Southern Ontario: Eligible Projects
The Investing in Commercialization Partnerships grant program supports Business led research and development projects. Examples of eligible projects include:
- Development of commercially-relevant technology platforms;
- Prototyping, demonstration projects, advanced product development, and applied research leading to a practical commercial application; and/or
- Supporting the development of a critical mass of R&D activity in emerging clusters in southern Ontario.
Projects that are targeted primarily at retail consumer markets are ineligible and will not be considered under this initiative.
Funding for Southern Ontario Not-For-Profits: Eligible Expenses
Eligible costs for the Investing in Commercialization Partnerships include labour, expertise, non-capital and capital. The Applicant must submit claims for the incurred and paid costs a minimum of twice a year, and no more than once a month. Any costs determined not reasonable, not incremental, or not directly related to the eligible project activities are not eligible. Also, any costs incurred before the eligibility date, as defined in the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) Contribution Agreement will not be supported.
FedDev Ontario Business Grants: Investing in Commercialization Partnerships: Timeline
The Investing in Commercialization Partnerships grant program is now open and accepting applications on continuous intake. Organizations are limited to one approval under this initiative and all projects must be completed by December 31, 2018; any costs incurred after this date will not be supported by the Investing in Commercialization Partnerships. Preference may be given to certain priority sectors or projects that diversify a regional economy.
Connect with Mentor Works Canadian Business Funding Analysts
To learn more about the Investing in Commercialization Partnerships grant and other new FedDev Ontario funding, please sign up for one of our FedDev Funding for Large Projects Webinars. Also, subscribe to Mentor Works’ Canada business grants and loans weekly e-newsletter and follow us on social media channels including LinkedIn, Twitter, and Tumblr to discover any other grants and loans opportunities that fit your organization’s needs.