The Government of Canada has introduced a number of initiatives to help fight climate change. However, some are having a negative impact on businesses’ bottom lines, such as the recently introduced peak energy hours in an effort to reduce energy usage. But don’t worry; it’s mostly good news for businesses. The Government of Canada is providing companies with many funding support mechanisms geared towards developing new clean technologies to help fight climate change and promote sustainability.
The Sustainable Development Technology Canada (SDTC), are providing a funding program called the SD Tech Fund, a perfect example of one of these business support initiatives. The SD Tech Fund will fill the gap between applied research and product commercialization by helping your business finance and carry out technology development and demonstration of new clean technologies.
Is My Project Eligible?
Projects will be considered if they are focused on developing a new technology to increase utilization efficiency of clean air, water, or combat climate change. Your project will need to take place in Canada. Eligible project costs are not retroactive and include:
- Raw materials
- Professional services
- Capital items with no residual value beyond the project
- Depreciation of capital
- Feasibility studies
What is the Funding Amount?
Funding will cover 33% of total eligible expenses. Typical project sizes vary from $100,000 to multi-million dollar budgets. This funding is given out as non-repayable cash contributions. This allows your company to further your R&D efforts without giving up ownership of your IP.
SDTC CleanTech Focus Event
From November 9-10, 2011, SDTC is inviting clean technology leaders to gather in Toronto for the SDTC CleanTech Focus Event. They will showcase their funding mechanisms focused on all stages of clean technology R&D initiatives. This is the perfect opportunity to learn more about the SD Tech Fund.
How Do I Apply?
To apply for the SD Tech Fund, you must first right a Statement of Interest. Mentor Works can determine how to best position your project and will work directly with you throughout the entire application process, providing professional advice and guidance. If you would like to discuss this opportunity further, please contact Mentor Works directly.