bigstock-Multi-ethnic-business-team-at--26890205The Northern Ontario Heritage Fund Corporation (NOHFC) recognizes that for many small businesses, determining whether or not to investigate new technology can be a challenge. In response, the NOHFC has developed the Opportunity Assessment Projects funding program to help companies through this stage.

What is the NOHFC Opportunity Assessment Projects?

Ontario business grants offered through the Opportunity Assessment Projects funding program focuses on developing collaborative efforts between academia and industry.

NOHFC Ontario Small Business Grants: Funding Amount & Timeline

The Opportunity Assessment Projects funding program will support up to 75% of the project’s costs to a maximum of $15,000. Northern Ontario government funding from this program will be provided to winning applicants as a conditional contribution. Applications for the Opportunity Assessment Projects government funding program are now being accepted.

NOHFC Northern Ontario Business Grants: Project Eligibility

To be eligible for the Opportunity Assessment Projects, a project must be submitted by a for-profit company located in Northern Ontario. The academic partner can be any non-profit organization such as a college, university or an innovation centre. In addition, projects must fit with one of the following priority areas of the NOHFC:

  • Natural resources
  • Advanced manufacturing
  • Clean technology
  • Health sciences
  • The bioeconomy
  • The digital economy

NOHFC Government Grants Ontario Eligibility: Project Activities

The Opportunity Assessment will be done by the academic partner. The investigation must include information on the following aspects:

  • Technical feasibility
  • Market feasibility
  • Financial feasibility
  • Operational requirements
  • Human resource requirements
  • Commercialization strategy

This information will be used by the applicant to determine whether it is worthwhile to investigate the technology further and if there is any value in spending money on the project.

Small Business Grants Ontario: Ineligible Costs

Costs that are not eligible for funding include:

  • Administrative fees or other ongoing operating costs of the service provider(s)
  • Business plan development

Apply for Canadian Government Funding

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Ryan has a BA in economics, an MSc in management, and several published works including two books. As Marketing Analyst at Mentor Works, Ryan enjoys communicating with business owners & executives about government grants and funding available to help overcome obstacles to growth.

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