Prosperity Initiative – FedDev Ontario

This program has been discontinued. Companies interested in a FedDev supported loan for business expansion should evaluate the Investing in Business Growth & Productivity (IBGP).

To provide a more productive, diversified and competitive economy in Southern Ontario, FedDev Ontario has allocated $210 million to this new program called the Prosperity Initiative. The initiative supports three different strategic projects to create a Southern Ontario Advantage that include: Regional Diversification, Productivity Enhancements and Competitive Advantage. Eligible costs may include capital (i.e. excluding land & buildings), labor and operating expenditures, materials & supplies, software, consulting or professional fees, travel and meeting costs.

• Amount: Repayable contributions of up to 50 per cent of direct eligible capital project costs and up to 75 per cent of direct eligible non-capital costs to a maximum of $20 million.
• Timeline: New 4 year program. Continuous intake. All activities must be completed by March 31, 2014.  This program’s funding has been depleted but will begin to accept new applications by the end of Q4, 2013.
• Eligibility: SME’s under 1000 employees in Southern Ontario. Priority may be given to organizations in the sectors of: environmental science and technology, natural resources and energy, health and related sciences and technologies, food and beverage industries, information and communication technologies.

 Top Prosperity Initiative Resources:

• Prosperity Initiative Overview Blog: An overview of the focus of this Canadian government funding program including information regarding the aim of the program, the application submission process, etc.
• Prosperity Initiative Update:  The latest release information for this Canadian government funding for small business program.