Amongst the updates announced in the Economic Action Plan 2015 was an improvement to the Canadian Small Business Financing Act (CSBFA), a popular small business loan to extend cash flows and support growth. As a quick overview, CSBFA was created to help businesses in establishing, expanding, modernizing, and improving their systems and targets. Businesses can…
A recent investment of $1,562,000 from the Western Economic Diversification Canada has allowed for the creation of a pilot initiative called Mitacs Converge. Mitacs Converge will provide government grant funding to support research initiatives. Mitacs, which connects and nurtures partnerships between academic institutions, SMEs, and multi-national companies, has added Converge to their established list of…
Although there are benefits to hiring recent Canadian grads, some Ontario employers find difficulty in filling some job positions and may require the assistance of foreign skilled workers. The Ontario government realizes this need and has created the Opportunities Ontario: Provincial Nominee Program to assist small businesses in staffing for these positions. Through this program,…
eAs part of Ontario’s R&D Project Hiring Grants program, the Fellowship Component offers based PhD graduates and Postdoctoral Fellows (PDFs) the opportunity to contribute to industry-driven research and development projects. These 12-month fellowships supported by Ontario Centres of Excellence (OCE) are valued at $85,000 and are open to all fields of study including non-STEM disciplines…
In recent years there has been a shift in the global automotive market, and, as noted in our Automotive Industry Overview, Canada has slipped to the 11th largest producer of vehicles globally due to increased pressures from lower wage countries, such as Mexico. The Canadian government has taken note and, in their Economic Action Plan…
On behalf of the Government of Ontario, Ontario Centres of Excellence (OCE) is now accepting applications for the R&D Project Hiring Grants program to connect employers with post-secondary students and recent graduates. OCE was allocated $10 million in government grant funding as a key component of the Ontario Youth Jobs Strategy. The program enables the partnership between…
Based in Seguin, Ontario, Crofter’s Food Ltd. is one of the most recent recipients of Canadian government funding through FedNor’s Targeted Manufacturing Initiative. Since 2006, more than $351 million has been invested into Northern Ontario businesses in support of nearly 1,700 projects. These investments have resulted in the support of more than 22,700 jobs. “Our…
In its launch last year, the Canadian Agricultural Adaptation Program (CAAP) committed $50.3 million in government grant funding over 5 years (2014-2019). Funding will be determined on a case-by-case basis to provide up to 50% of project costs to $1 million per project, or $4 million in total funding over the 5-year program. It is…
The Technology Demonstration Program (TDP) offers non-repayable business funding contributions to support large-scale technology projects in the Aerospace and Defence (A&D) industry. The TDP will support one to three applications each year from an applicant, and businesses can apply for up to 50% coverage for projects with an annual max of $54M in total allocated…
As the Spin Master Innovation Fund manages its fifth consecutive round, Futurpreneur Canada and widely known toy company Spin Master Ltd. are collaborating to help startups who have been in operation for under 12 months. Also in association with the Business Development Bank of Canada (BDC), the Spin Master Innovation Fund will provide successful applicants…