The Federal Economic Development Agency for Southern Ontario (FedDev) offers Ontario government funding programs through the Southern Ontario Prosperity Initiatives to organizations that play a role in developing southern Ontario’s economy. One of the key funding programs is called Investing in Business Growth and Productivity.
IBGP Government Funding for Not-for-Profits: Company Eligibility
Not-for-profits eligible for funding will include Industry associations and regional economic development organizations located in southern Ontario. The non-profits must demonstrate a track record of past initiatives to support small- and mid-sized businesses (SMEs) in efforts to improve productivity and innovation. As well, organizations will need to provide evidence of a solid organizational structure and the skills and expertise to carry out the project being proposed.
IBGP Canadian Government Grants for Not-for-Profits: Project Eligibility
Projects that would be considered eligible by the Investing in Business Growth & Productivity (IBGP) initiative are those that propose to fund or collaborate with SMEs regarding the adoption or adaptation of technologies, processes and practices to improve productivity and to support SMEs integration into global value chains and market diversification.
Government Grants for Canadian Not-for-Profits: Eligible Costs
Costs that are considered eligible for reimbursement by this government grants for Canadian not-for-profits program include those associated with:
- Capital cost associated with SMEs purchasing new technology to improve productivity.
- Funds to SMEs for the above costs where the expenditures demonstrate their purpose related to improving productivity, innovation or decreasing the time to market.
Additional Grants for Canadian Not-for-Profits Eligible Cost Stipulations
To be considered eligible for reimbursement through IBGP grants for Canadian not-for-profits, all costs must be reasonable, and project related. Funding is not provided for overhead costs, or the purchase of land or buildings. All expenses must be incurred after the project is approved and an agreement is signed.
In addition, all projects must be completed by December 31, 2018. Expenses incurred after this date are not considered eligible. When expenses are incurred and paid by the not-for-profit organization, they can be submitted to FedDev Ontario for reimbursement.
Additional IBGP Canadian Government Funding for Not-for-Profit Program Considerations
IBGP provides grant funding for up to 100% of the eligible projects costs to a maximum of $20 million. There are some limitations associated with the amount and type of funding. If the purpose of the project is to provide funding to SMEs, SME’s must provide a minimum of 50% of their proposed, eligible costs. The maximum amount that can be provided to an SME through this initiative is $100,000. Matching funds may be required if the proposed project does not involve providing funds as a third party to SMEs. In-kind funds are not eligible to be included as part of the organization’s contribution. However, up to 10% of the awarded funding may be used towards outreach and project administration costs.
IBGP Canadian Government Grants for Small Business Application Process
Applications for this government funding program are accepted now through fall of 2018 or until funding is depleted. Applications are reviewed as they are received with a 45-60 day turnaround. To find our more about your organization’s eligibility and the application process, choose from one of the options below, or contact an expert on government funding at Mentor Works.
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