The Northern Ontario Heritage Fund Corporation (NOHFC) has redefined its programs to better serve the economic and business needs of Northern Ontario. The new line-up of programs has several programs focused on the success of innovative projects and developments. A key focus of the new programs offered by the NOHFC Ontario business grants program is fostering the collaboration between industry and academia. The Pilot Demonstration and Commercialization Projects fund is meant to assist companies or collaborations with an innovative product to ensure success in prototype testing and the commercialization process.
NOHFC Business Grants in Ontario –Funding Details
There is substantial Northern Ontario government funding available for projects that meet NOHFC’s eligibility criteria. NOHFC small business grants Ontario will fund up to 50% of project costs to a maximum of $500,000. Funding that will be used to support labour, material, certification and marketing costs will be provided as a 100% conditional contribution. Building or renovation costs and demonstration prototype costs will be in the form of a 30% conditional contribution and a 70% repayable loan.
NOHFC Ontario Government Grants Eligibility
For-profit companies located in Northern Ontario are eligible for this small business grants Ontario program. However, priority will be given to applications that include collaboration with an academic institution. The company must own the IP for the technology proposed in the application. The technology must be in a state that is ready to test and all certifications must be completed. Companies must be able to demonstrate that they have the technical, managerial and financial capability to complete the commercialization process.
NOHFC Small Business Grants Ontario program is particularly interested in projects in the following areas:
- Natural resources
- Advanced manufacturing
- Clean technology
- Health sciences
- The bio-economy
- The digital economy
Ontario Small Business Grants Program Timeline
Applications for the NOHFC Pilot Demonstration & Commercialization Projects small business government grants program will be accepted until funding is depleted. To learn how to access Ontario small business grants through this NOHFC program, please contact Mentor Works‘ team of Government Funding Planners.