Healthcare Sector Receives Funding Support for New Technologies
The Innovation & Development Program (IDP) was created to help commercialize new technologies and innovations within the Canadian health industry. This funding mechanism is part of the Health Technology Commercialization Program, created by the partnership of Ministry of Research and Innovation and The Health Technology Exchange.
Funding is open to Ontario SME’s in the health sector, actively taking part in research and development initiatives. In order for your research project to be eligible, your Intellectual Property (IP) must have a proof of concept and passed an initial design and validation phase.
Amount and Type of Funding
Support is given as a performance-based loan or convertible debenture. The IDP covers 50% of project costs for projects around $200,000. Eligible expenses include salaries with benefits, capital costs, direct research related costs, and commercialization costs.
To receive expert advice and guidance throughout the application process, please contact us directly at Mentor Works. We specialize in government funding, allowing you to complete the application process efficiently and accurately by simplifying the procedure. Be sure to stay connected to receive the latest government funding news and helpful business resources by subscribing to our blog and following us on LinkedIn, Facebook, and Twitter.