FedDev Ontario is committed to growing the Ontario economy through a wide range of resources, support services, and government funding for small business, academic, and community projects. In 2013, Ontario accounted for 36.7% of Canada’s GDP, and the provincial government is committed to retain and improve this prominence. As a result, FedDev Ontario has helped hundreds of companies and establishments with small business grants and loans.
London, Ontario Government Funding for Business & Angels
In 2013, FedDev Ontario announced the Southern Ontario Prosperity Initiatives (SOPI), Ontario government funding intended to aid Ontario’s economic prosperity. The SOPI’s consist of targeted small business loans and funding for non-profits, organizations, and angel networks to fuel investment, innovation, and growth in Ontario. The active SOPI programs are as follows:
- Investing in Business Innovation: 0% interest loan up to $1 million to cover late-stage development and early-stage commercialization of innovative, unique new technologies for smaller Ontario businesses.
- Investing in Business Growth & Productivity: 0% interest loan for established businesses looking to carry out a large-scale business expansion project.
- Investing in Commercialization Partnerships: Ontario small business grants for business-led partnerships to help develop globally competitive products and services.
- Investing in Regional Diversification: Ontario business grants covering up to 50% of eligible costs towards business infrastructure and projects that diversify a regional economy in Ontario.
Recently, the Ontario government announced $1.4 million in funding awarded to two London, Ontario organizations to fuel business growth.
Voices.com Receives $900,000 in Ontario Government Funding
Voices.com is a nexus for voice talents for radio, television, advertising agencies, and businesses. The platform allows visitors to find and tap into voice actors and talents to use with their scripts and custom media formats. FedDev Ontario will provide $900k towards the advancement of this technology, which differentiates itself from competitors with its SurePay™ escrow service and intuitive web application. The funding will allow Voices.com to launch a $3.6 million development project that will allow the business to develop improved technological features, expand to new markets, and grow their facility, creating jobs and accelerating their growth including more than 50 new employees in the next three years.
Southwestern Ontario Angel Group Uses $500,000 Funding to Find Investment Opportunities
An additional $500,000 is being provided to the Southwestern Ontario Angel Group to assist them in networking with entrepreneurs. Their project will facilitate the introduction to young businesses via networking opportunities, targeted presentations, and dedicated networking meetings. Southwestern Ontario Angel Group has invested in some excellent young startups in the past, including Clearpath Robotics, Plum.io, FreePoint Technologies, and BigRoad.
Interested in Ontario Government Funding? Attend a Free Informational Webinar
FedDev Ontario’s programs are a small sample of the Canadian government grants and repayable funding for businesses. Whether you’re looking to hire and train your employees, expand your facility, adopt new technology, or develop and enhance your product offerings, funding is available to support your business’ strategic initiatives. In addition to our free government funding e-newsletter, businesses are encouraged to attend an upcoming small business funding webinar to learn more about the programs available to Canadian businesses.