Originally launched in 2010 by the Government of Canada through Natural Resources Canada (NRC), the Investments in Forest Industry Transformation (IFIT) Program exists to address a critical need for capital investment in new forest industry technologies that innovate and bring new jobs to the ever-growing and expanding Canadian forest industry.
- Amount: Grants of up to 50% to a maximum of $500,000 per project through the Studies Projects Stream.
- Timeline: Ongoing intake until March 31, 2023. Applicants can receive funding for up to three studies during the funding window.
- Eligibility: For-profit companies located in Canada which produce forest products in an existing forest product manufacturing facility, and are/will be new entrants in the Canadian forest sector for the purpose of the proposed project.
- Eligible Projects: Studies Projects Stream applicant projects must either support the initial investment for technologies, processes, product trial, or market assessments, support a recipient towards their eventual demonstration or commercialization of an innovative technology, and/or advance innovation to full commercialization.
To date, IFIT has provided government funding to numerous projects, including the research and development of winning technologies that have produced innovative environmental products, and created new revenue streams for forest sector companies.
Posted: August 10, 2020.