FAQs: Investing in Regional Diversification
Investing in Regional Diversification (IRD) program is offered through FedDev Ontario and is focused on providing financial support to not-for-profit organizations that have the capabilities to develop regional economic opportunities that diversify the economy and result in the creation of new jobs.
Who is eligible to apply for this Canadian government funding program?
The FedDev Ontario IRD program is open to accepting applications from not-for-profit organizations that are located in southern Ontario. The not-for-profits are expected to have played a role in economic development in the past.
How much funding is available through IRD government grants Canada?
Funding available through FedDev Ontario IRD Canadian government grants is provided as non-repayable grants for up to $20 million, covering up to 100% of the project costs.
What costs are eligible for IRD funding for not-for-profits?
Costs that are eligible include project specific:
- 3rd Party Expertise;
- Non-capital expenses; and
- Some capital expenses, as capital costs must be justifiable and directly required for the project’s success.
What costs are ineligible for funding through the IRD Program Canada government grants program?
Costs that are incurred prior to the project start date or capital purchases. It does not fund projects where the not-for-profit distributes funding directly to SMEs.
What types of projects will be funded through the IRD program?
Two types of projects will be funded: Projects that focus on business expansion possibilities such as attracting new investments, new industries, and implementing business related action plans. Projects that focus on business infrastructure such as business incubators and the analysis and development of supply chains.
What is the deadline to apply for IRD government funding Canada?
Applications are accepted now through September 2017, as long as funding is available. Projects must be completed by March 31, 2018.
How do we find out more about the IRD program and the application process?
Mentor Works provides Free Canadian Government Funding Informational Sessions to small businesses and not-for-profits. Stay informed of new developments and up to date information on Canadian government grants and loans programs, sign up for our Canadian government funding weekly e-newsletter.