Funding Alert: The Advanced Manufacturing and Innovation Competitiveness for Ontario.
The Advanced Manufacturing and Innovation Competitiveness (AMIC) provides financial support to advanced manufacturing companies with a focus on small and medium-sized enterprises across Ontario.
The AMIC opens on July 20th 2023 and application deadline is August 31st 2023! Projects must be between 3-4 years in length.
Update: The AMIC program has extended the intake deadline to September 14, 2023 ! All decisions will be released December 13, 2023.
Program Funding Amount
Business Projects:
- Loan: 15% to a maximum of $5 million; interest-free for project period (up to 4 years)
- Grant: 30% of the 15% loan, to a maximum of $500K, may be forgiven if targets are met
Rural Ontario:
- Grants of 15% to a maximum of $500,000 (must have less than 100 employees)
Foreign Direct Investment:
- $1,500,000 grants available for strategic projects
Eligible Applicants
Businesses located in Ontario that meet the following criteria:
- 3 years of operations and financial statements (provided to the program)
- 10 employees minimum
- Create 5+ new jobs or upskill 5+ current jobs
- Invest $500K+ in the project
Businesses that operate in advanced manufacturing sectors, including:
- Aerospace
- Automotive
- Chemical
- Life Sciences
- Steel
- Information and Communications Tech
Funding Process
- Connect with us
- Register for Transfer Payment Ontario (TPON)
- Complete eligibility checklist questionnaire (due 10 business days prior to deadline)
- Complete full application form (after being invited)
Program Objectives
Support to help growing companies in southwestern Ontario make investments to:
- Create jobs and build talent
- Attract private sector investment
- Business growth & economic impact
- Innovation, cluster development
Eligible Projects
- Capital equipment
- Technology adoption
- Upskilling: talent and training
- Expansion, new products, new markets
Ineligible Expenses
Purchase of land or buildings; equipment leasing; training costs supported by Ministry of Labour, Training and Skills Development; operating costs
Thinking of applying for financing? These funds are highly competitive, contact us today to get started!
Why Ayming?
Our team of experts will take the time to understand your current and future planned projects. We will then align these initiatives to the program in order to provide you with the highest ROI and the highest chance of approval.
- We have extensive experience working with Canadian SMEs and have the expertise to properly position and maximize your application to secure your business funding.
- We are the first Canadian company to establish a national grants practice.
- Our proprietary artificial intelligence (AI) driven database of grants provides live access to thousands of programs, including a custom snapshot of all federal and provincial grants currently available to each company specifically.
- Our highly experienced delivery teams boast over 50 + years of combined grants experience and over 200+ years of combined SR&ED experience, meaning you partner with true subject matter experts who are invested in your success.
- No risk success-fee remuneration.
Contact one of our Grant experts today to get your application started ASAP before program funding is depleted! We’re here to help and answer all of your questions.
Find more information about our Grants process here.
Contact us today!
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