Investing in Commercialization Partnerships FAQ’s
Investing in Commercialization Partnerships is offered by FedDev Ontario as a part of Southern Ontario Prosperity Initiatives (SOPIs). This government program is focused on providing funding for business led collaborations with academic or research institutions to develop innovative products that have high market demand and bring them to market readiness.
Who can apply for ICP Canadian government grants?
Applicants of ICP must be: Post-secondary institutions (only publicly-funded colleges and universities located in southern Ontario); and incorporated not-for-profit organizations, including research institutions and industry associations located in southern Ontario.
How do SMEs benefit from the ICP government grants Canada?
SMEs work in partnership with the applicants to guide the research project and the commercialization concept. SMEs provide a minimum of 50% of the funding for the project. The remainder of the funds is provided by the ICP program. The key benefit is the access to highly skilled research and a faster time to market potential.
What funding is available from the ICP program?
ICP will provide funding as a grant for up to 50% of the project costs to a maximum amount of $20 million.
How do the ICP grants from the Canadian government work?
Funding works as reimbursements for eligible project expenses that have been paid and then submitted to FedDev Ontario.
What expenses are eligible for coverage through ICP Canadian government grants?
Expenses must be directly applicable to the project, and fit with one of the following categories: Labour, Expertise, Capital and Non-Capital.
What expenses are not eligible for coverage through the ICP Canadian government funding program?
Expenses not eligible for reimbursement include: ongoing overhead costs for running the business, purchase of land or buildings, costs incurred prior to project approval and an agreement being signed with FedDev Ontario.
What is the timeframe for the ICP government grants Canada program?
The ICP program is open and accepting applications on a continuous basis. Projects can be multi-year. However, all projects must be completed and all expenses incurred by December 31, 2018.
Learn More about ICP Canadian government grants
My company is interested in applying for funding. What is the next step? Access additional information to satisfy unresolved questions regarding this program and then click “Get Started” to connect with a Canadian government funding expert.