Research and Development Funding: Technology Development Program
The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) is accepting applications for its Technology Development Program to support innovation within the province via Ontario business grants.
Overview of this Research and Development Funding Program
This Canadian government funding for small business program is aimed at strengthening and diversifying southern Ontario’s economy by providing financial backing to bring forth emerging “game-changing” technology to market more quickly.
Ontario government funding offered through the TD Program is grant funding for business aimed at addressing the financial gap between business-driven research and development (R&D). Government funding for research and development distributed through the TD Program helps speed up the process of commercialization by encouraging public and private sectors to collaborate on innovative, breakthrough technologies –typically 1 to 7 years from market.
Eligible Expenses for Canadian Government Grants
Companies offered access to small business funding grants through the TD Program will receive non-repayable contributions of up to $20 million dollars. This government funding for small business will cover up to 50 percent of direct eligible costs incurred by recipients for eligible project activities (The remaining 50 percent must be provided by the private sector or other non-governmental sources). Eligible direct costs may include
- Direct labour and operating costs;
- Minor and non-capital acquisitions;
- Equipment and machinery;
- Administration (to a maximum of five percent of eligible and supported costs).
- Materials and supplies;
- Consulting and/or professional fees (limited to market rate);
- Travel and meeting costs; and
*All project activities must be completed before March 31, 2014.
Eligible Projects for TD Government Funding for Research and Development
Small Business Funding Grants will provide financing to eligible projects that result in:
- Collaborations of private sector, academic, innovation and other organizations;
- Increased investment to bridge the gap between research and development and commercialization of market-driven “game changing” technology; and
- Leveraging of private sector investments in “game-changing”, market-driven technology.
Eligible Companies for Small Business Funding Grants through the Technology Development Program:
In order to be eligible for this government grants Ontario through the TD Program must be established not-for-profit corporations location in Southern Ontario. This includes innovation and commercialization organizations, post-secondary institutions located in southern Ontario. The recipient firm must be working with at least one private sector entity to in development of “game-changing” market-driven technological innovation. Contact a Mentor Works Canadian Government Funding Expert for more information on how your firm can become involved.
Ontario government funding will support eligible recipients to undertake the following activities:
- Product and process applied research;
- Engineering design;
- Technology acceleration;
- Product testing;
- Marketing studies;
- Proof of concept;
- Piloting and demonstration;
- Problem solving;
- Clinical trials;
- Pre-commercialization activities; and
- Commercialization of intellectual property (IP).
Priority may be given to projects that are aligned with the following four priority areas:
- Natural resources and energy;
- Environmental science and technologies;
- Health and related life sciences and technologies, including the food and beverage industry; and
- Information and communications technologies.
Stay Close to Mentor Works for Canadian Government Funding News and Support
Mentor Works offers several ways to keep up to date on the new releases and updates in small business funding grants and government loans Ontario. You can connect with us via social media through LinkedIn, Facebook, Twitter, or Google+.
Free Canadian Government Funding Workshop
Mentor Works Canadian Government Funding Experts have workshops scheduled throughout Southern Ontario and Canada on a regular basis. Sign up for a free Canadian government funding workshop in your area today while seats are available, including our upcoming Markham and Burlington events.