The provincial and federal governments offers a variety of programs to assist
- Business Development Bank of Canada
Description: A complementary government lender to fill out or complete services available from commercial financial institutions.
Terms/Assistance/Benefits: Multiple financing solutions.
- Canada Foundation for Innovation Funds
Description: Funds R & D infrastructure costs in partnership with universities, colleges, research hospitals, and non-profit research institutions.
Terms/Assistance/Benefits: Up to 40% of project costs.
- Canada Small Business Financing Program - Industry Canada
Description: Up to $500,000 financing for any one business, of which no more than $350,000 can be used for purchasing leasehold improvements or improving leased property and purchasing or improving new or used equipment.
Terms/Assistance/Benefits: Up to 90% of the cost of the asset at fixed or floating rate.
- Export Development Canada
Description: A crown corporation that offers financing, credit insurance and bonding solutions to Canadian exporters.
Terms/Assistance/Benefits: Various financing and risk management programs.
- Export Market Access - A Global Expansion Program
Description: A cost-sharing grant to help Ontario SMEs cover costs incurred to develop export sales in foreign markets, predominately outside the US.
Terms/Assistance/Benefits: Covering up to 50% of eligible costs incurred to develop export sales. Funding decisions will be made in 30 business days.
- Going Global Innovation - Foreign Affairs and International Trade Canada
Description: Pays eligible expenses for Canadian researchers to meet with key R & D players in foreign countries pursuing collaborative opportunities.
Terms/Assistance/Benefits: Pays a minimum of $5,000 of eligible expenses for travel, accommodations, meals, incidentals and other non-research expenses.
- Industrial R & D Fellowships - Natural Sciences and Engineering Research Council of Canada
Description: Financial assistance for companies to hire recent doctoral graduates in science and engineering to conduct research and development in industries.
Terms/Assistance/Benefits: Contributes $30,000 per year for two years towards the PhD research fellow's salary.
- Industrial Research Assistance Program - National Research Council Canada
Description: Technical advisory services, networking and financial assistance to SMEs.
Terms/Assistance/Benefits: Invests on a cost-shared basis.
- Innovation Tax Credit (OITC) - Ontario
Description: Refundable provincial tax credit on Scientific Research & Experimental Developmental expenditure claims in Ontario.
Terms/Assistance/Benefits: 10 percent refundable tax credit up to $300,000 per year.
- MaRS - Business Mentorship and Entrepreneurship Program (BMEP)
Description: A major Ontario Government commercialization initiative to meet the needs of high performance technology entrepreneurs. Services and resources are delivered through member organizations of the Ontario Commercialization Network (OCN).
Terms/Assistance/Benefits: Skills training, management support, mentorship and networking.
- MITACS ACCELERATE
Description: MITACS ACCELERATE is a unique cost-shared R&D internship program which connects companies with Canadian universities' research expertise, in all disciplines.
Terms/Assistance/Benefits: During 4, 8, or 12-month research projects, interns (graduate students or post-doctoral fellows) bring a new perspective and the latest knowledge to a research challenge faced by the partner, in a wide range of areas including manufacturing, technical innovation, business processes, IT, social sciences, design and many more.
- New Exporters to Border States (NEBS)
Description: A hands-on introduction course to the basics of exporting to the USA which includes visits to US Customs and a freight forwarder.
Terms/Assistance/Benefits: Course fee is $150.
- Ontario Centres of Excellence Inc.
Description: 6 sector-based centres and various programs to strengthen research linkages between academia and industry.
Terms/Assistance/Benefits: Knowledge transfer, commercialization, training.
- Ontario Emerging Technologies Fund - Ontario Capital Growth Corporation
Description: Up to $5 million initial investment to leverage private sector capital in clean technology, life sciences and advanced health technologies, digital media and information and communications technology sectors. Program will make a direct co-investment into a successful company alongside the qualified investor.
Terms/Assistance/Benefits: Investee companies interested in investment must work through qualified investors. Only qualified investors can propose investments to the fund for consideration.
- Ontario Innovation Demonstration Fund
Description: Non-interest bearing repayable or forgivable loans; royalty agreements and equity participation to help commercialize innovative technologies.
Terms/Assistance/Benefits: Contributions up to $4 million.
- Ontario Research & Development Tax Credit (ORDTC)
Description: Tax credit for Scientific Research & Experimental Development expenditures.
Terms/Assistance/Benefits: 4.5 percent non-refundable tax credit for expenditures incurred in Ontario.
- Ontario Research Fund - Ontario Ministry of Research and Innovation
Description: Designed to provide Ontario's research community with one window for research funding through Global Leadership Round in Genomics & Life Sciences Competition, Research Excellence program and Research Infrastructure program.
Terms/Assistance/Benefits: $730 million over four years to support operational costs and capital costs of research institutions.
- Ontario Tax Exemption for Commercialization (OTEC)
Description: Tax exemption for new corporations that commercialize intellectual property in Ontario.
Terms/Assistance/Benefits: 10-year tax exemption from Ontario Corporate Income tax and Corporate Minimum Tax.
- Scientific Research and Experimental Development Tax Incentive Program - Canada Revenue Agency
Description: The largest single source of federal support for industrial R & D. Investment tax credits for expenditures such as wages, materials, machinery, equipment, some overhead, and SR & ED contracts.
Terms/Assistance/Benefits: Up to 35% tax credit for first $3 million of eligible expenditures of Canadian-controlled private corporations.
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