The approaches to learning are quite simple, we may ignore the problem, seek outside help in collaboration or try to put our head down and find our own solution usually with poor results (i.e. due to the gap in our knowledge with respect to some of the technical challenges). However, if you are of mindset to collaborate and partner with others that have the expertise – OCE’s programs have proven to be a smart solution for many advancing SME’s who have interest in Ontario Business grants.
Fit Bodies, Fat Minds
By accessing Ontario’s universities and colleges, their researchers and students have the ability to extend your skills and address technical challenges through collaboration and partnerships. The program called Technical Problem Solving, delivered by Ontario Centres of Excellence (OCE), supports the development and implementation of short term projects to solve a technical challenge identified by the industry partner (SME) with the end goal of commercial results.
Provided by the Provincial Universities or colleges, the primary services offered include the application of their technical expertise and research work to solve the business innovation challenge. This knowledge transfer supports speed to market for products or services to accelerate growth. It is about connecting the business community to the rich and diverse knowledge base that many SMEs would not normally have access to.
How Does the Research and Development Funding Work?
Projects are typically 6 months in duration and usually do not exceed 12 months. The program investments are generally between $25,000 and $50,000 with an in-kind contribution from the industry partner and a cost share basis matching OCE’s investment.
Government Funding for Small Business
The industry-academia partnerships may continue past the commercial impact based on the benefits of extending new relationships with researchers to enhance the companies R&D strength. By gaining access to research equipment, software and smart facilities available through academic institutions, these relationships may extend into hiring the new graduates through other Ontario Government Grants.
For other programs to support your Research & Development initiatives, please do not hesitate to contact Mentor Works. Other Government Funding Ontario programs include talent initiatives such as Mitacs as well.