The Northern Ontario Heritage Fund Corporation (NOHFC) has a new small business government grants and loans program to support Northern Ontario businesses as they go through the critical stages in order to bring an innovation into the marketplace. The Pilot Demonstration and Commercialization Projects funding program will provide financial assistance to businesses or industry/academic partnerships in this stage.
How to Qualify for this NOHFC Small Business Grants Ontario Program
To qualify for this Canadian government funding program, businesses must be located in Northern Ontario. While it is not mandatory to have an academic partner, NOHFC will favour applications that offer this aspect. As the lead applicant (regardless of a partnership), companies must be able to demonstrate their ownership of the IP associated with the innovation. Having strong technical, financial and managerial capacities to support the project is another important factor. The innovation must be fully tested and validated prior to submitting an application for this program.
NOHFC Business Grants in Ontario: Project Eligibility
Eligible projects must fit within one of the priority sectors of NOHFC:
- Natural resources
- Advanced manufacturing
- Clean technology
- Health sciences
- The bio-economy
- The digital economy
Grants for Small Businesses in Ontario: Eligible Costs
Costs that are eligible for reimbursement through NOHFC grants and loans for businesses in northern Ontario must occur after submitting a complete application. These costs include:
- Direct internal technical labour costs for up to one year of the project’s duration
- Building or renovation costs
- Demonstration prototype costs (engineering and design services and equipment purchase, fabrication and installation costs)
- Material costs
- Product certification costs
- Marketing costs (trade show assistance and marketing material design costs)
NOHFC Northern Ontario Business Grants: Ineligible Costs
Costs that are not eligible for reimbursement include:
- Working capital
- Administrative or other indirect operating costs
- Business case or business plan development
- Travel, accommodation and meeting costs
- Office equipment and furnishings
NOHFC Ontario Small Business Government Grants: Funding Details
Funding through the Pilot Demonstration and Commercialization Projects program will be provided as part loan and part conditional contribution. The funding will support up to 50% of project costs to a maximum of $500,000. For costs associated with labour, material, certification and marketing, the Pilot Demonstration and Commercialization program will provide support for 100% of costs as a conditional contribution. For costs associated with building or renovation costs and demonstration prototypes, the funding will be a 30% conditional contribution and 70% loan.
The Pilot Demonstration and Commercialization Projects funding program is currently accepting applications for projects. The funding from this program will be available until it is depleted. To learn how to access this NOHFC program and optimize the application process, please contact Mentor Works, the Canadian Government Funding Planners.