Funding Alert: Advanced Manufacturing and Innovation Competitiveness (AMIC)

AMIC provides financial support to advanced manufacturing companies with a focus on small and medium-sized enterprises across Ontario.

The Advanced Manufacturing and Innovation Competitiveness (AMIC) stream provides financial support to advanced manufacturing companies with a focus on small and medium-sized enterprises across Ontario. 

This program is now accepting applications and we highly recommend you get in touch with us right away.

Important Dates:

• Intake opens: July 29th,2024
• Application Deadline: September 26th 2024
• Notification Date: December 20th 2024
• Assessment period of 60 business days

Projects must be between 3 – 4 years in length.

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: Advanced Manufacturing and Innovation Competitiveness (AMIC)

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 and Objectives

Program Funding Process:

1. Connect with a regional advisor
2. Register for Transfer Payment Ontario (TPON)
3. Complete eligibility checklist questionnaire (due 10 business days prior to deadline)
4. Complete full application form (after being invited)

Program Objectives:

Support to help growing companies in southwestern Ontario make investments to:

1. Create jobs and build talent
2. Attract private sector investment
3. Business growth & economic impact
4. 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? Don’t wait! 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 and get your application started ASAP before program funding is depleted! We’re here to help and answer all of your questions.

Find out more about our Grants process here.