The 2014 Federal Budget pledged continuing support for through the Economic Action Plan’s Southern Ontario Prosperity Initiatives, which includes Investing in Business Innovation (IBI) Canadian business grants. IBI’s Not-for-Profit stream will fund up to 100% of project costs to a maximum of $20 million.
Investing in Business Innovation (IBI) –Success Story
Communitech Corporation out of Waterloo offers a wide array of services for start-ups operating out of the Waterloo region. In November 2013 Members of Parliament for Kitchener Centre and Kitchener-Waterloo were on-hand, on behalf of Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) to pledge $15 million over 3 years to help Communitech’s support innovative early stage businesses.
Investing in Business Innovation (IBI) –Funding Program Focus
IBI supports the development of a more competitive southern Ontario economy by offering mentorship and entrepreneurial support and financing. The initiative supports activities of eligible organizations delivering services to entrepreneurs to undertake activities related to providing innovative new entrepreneurs with business skills and seed financing.
Investing in Business Innovation (IBI) –Eligibility
IBI Canadian government grants will support Industry associations and regional economic development organizations located in southern Ontario. Investing in Business Innovation will fund projects that deliver services to entrepreneurs to undertake activities related to providing entrepreneurs with skill development and business education as well as seed financing in order to prepare them to take on investment. Funds will cover costs such as labour and expertise, and capital and non-capital expenses.
Learn more about IBI’s Government Funding for Not-for-Profit Stream
To learn more about this opportunity for not-for-profit organizations, you are invited to attend a complimentary FedDev Ontario Webinar. To stay up to date on other opportunities to help your organization grow, please sign up for Mentor Works’ Canada small business grants and loans weekly e-newsletter, and be sure to follow us on your favourite social media network, including: Facebook, Twitter, and YouTube.