How to Leverage the Technology Development Program
A major focus of the Canadian government is the creation of funding programs that are designed to assist businesses in their journey to digital platforms as they transform their businesses. This is because technology continues to revolutionize the way businesses operate by making them more productive and improving product and service quality. Therefore, the Ontario Centre for Innovation (OCI) has developed programs through their Digital Competence Centre to help businesses adapt better digital technology.
This support is offered through two streams: the Technology Demonstration Program (TDP), which supports SMEs to adopt and implement the digital technology that they had identified through the completion of the first stream, the Digital Modernization and Adoption Plan (DMAP).
This article will address the Technology Demonstration Program’s (TDPs) funding amounts and eligibility criteria. The TDP stream is meant to help businesses that have already completed the DMAP stream and identified their digital adoption plan, accelerating the growth of the SME while supporting the commercialization of Made-in-Ontario digital technologies.
Please note that you must first complete the Digital Modernization and Adoption Plan (DMAP) stream prior to applying for the Technology Demonstration Program (TDP). To learn more about the DMAP stream and its unique eligibility criteria, please refer to our article on this topic.
Amount of Funding
Successful applicants for the Technology Demonstration Program (TDP) may access up to 50% of eligible costs up to $150,000 per applicant.
Eligible Applicants
Applicants may be eligible for the OCI – Technology Demonstration Program (TDP) if they meet the following criteria:
- Must be incorporated federally or provincially with a valid Business Number;
- Must be a for-profit, privately owned business;
- Have between 1 – 499 FTEs;
- Have a permanent establishment in Ontario;
- Have completed a Digital Modernization and Adoption Program (DMAP) project; and
- Have at least $500,000 of annual revenues in one of the previous three tax years.
Eligible Activities
Projects may be eligible for funding under this initiative if they:
- Support the adoption and implementation of commercialized digital technology by an SME in partnership with a digital vendor and alignment with their completed DMAP;
- Are a partnership between the SME and a technology vendor firm that is preferably located in Ontario; and
- Significantly accelerate the SME’s digital transformation, on their commercialized technologies, and have a high impact on the business.
Program Deadline
Applications for this fund are now being accepted on a rolling basis and do not currently have a deadline.
Government Funding Opportunities for Ontario Businesses
Learn more about which funding is available for Ontario Businesses, such as the Sustainable Development Technology Canada program by accessing our Ontario Grants and Funding Directory for a list of active programs. To uncover further insights about how to manage, grow, and finance your Ontario business, sign up for one of our free webinars to receive a variety of resources, links, tools, and support services related to a variety of different industries and business activities.
