The New Horizons for Medtech (NHM) program is designed for Ontario medical device and advanced health technology SME’s pursuing export opportunities in the Medical Technology industry. NHM receives support from Canada’s Medical Technologies Companies (MEDEC), Canadian MedTech Manufacturers’ Alliance (CMMA), and the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). The program has been up and running in full force since January 2013 and still receiving applications at the time this article was published.
NHM Government Grants for Small Business Details
SME’s eligible for funding for small business offered by NHM, may choose to take advantage of the program’s eligible costs to support a variety of marketing-related activities, incoming & outgoing missions, focus groups, product testing, and legal-related activities such as facility certification & patent searches prior to entering new export markets. The NHM small business grants Ontario program also covers consulting fees associated with developing new marketing plans for targeting a new export region, conducting market assessments, and/or performing competitive analysis. Projects must be complete by December 31, 2013, and applicants must fall within the eligible Southern Ontario regions.
NHM Government Funding for Business MedTech Success Stories
The NHM Ontario business grants program has enjoyed the opportunity to help many small and medium-sized Ontario businesses during its young history; here are just a few of the success stories to date:
- An Ottawa manufacturer and marketer of patented mobility training equipment received a $20,000 grant to help its efforts in gathering research and making efforts to bring its life-changing products to market.
- Another Ottawa-based leading bioscience SME received a $22,000 grant to support its DNA testing system. For the first time, healthcare providers will now be able to provide their patients with DNA results on demand.
- A Mississauga, Ontario-based medical device manufacturing company also received a small business grant from NHM. The grant valued at $30,000 will support this firm’s line of medical products, many of which this firm is an exclusive Canadian distributor for.
Learn More about Eligibility Criteria for NHM Business Funding Grants
Get better-acquainted with eligibility requirements for this business expansion government funding for business program, or choose to get started on your application if you are already certain that you qualify.
Need More Information Regarding NHM Government Grants for Small Business?
Take a look at some of the additional resources we have provided you on NHM Canadian small business grants:
Connect with Canadian Government Funding Experts to Find the Right Program for Your Business
If your medical/healthcare based business has more than 10 full-time employees and has been incorporated for at least 2 years Canadian government funding opportunities exist for your firm. To learn more, sign up for a free 60 Minute Small Business Grants Ontario Workshop, and definitely sign up for our Canadian Government Funding Weekly E-Newsletter. You can also connect with us on Google+, LinkedIn, or Twitter.