Investments in Forest Industry Transformation Investissements dans la transformation de l’industrie forestière

Funding Alert: Investments in Forest Industry Transformation (IFIT)

The Investments in Forest Industry Transformation (IFIT) program facilitates the adoption of transformative technologies and products in the Canadian forest sector by bridging the gap between development and commercialization.

Programme Objective

The program aims to create a more competitive, resilient, and environmentally sustainable sector with a focus on innovative, low-carbon projects that result in new or diversified revenue streams.

Funding Amount

The IFIT program is delivered through two streams: capital investment projects and studies.

The capital investment projects stream provides up to $10 million of a project’s eligible costs.
The studies stream provides up to $1 million of a project’s eligible costs.

Timeline

Applications can be submitted within the 4 application windows:

Apply by September 30, 2023, for a decision by February 29, 2024.
Apply by December 31, 2023, for a decision by May 31, 2024.
Apply by March 31, 2024, for a decision by August 31, 2024.
Apply by June 30, 2024, for a decision by November 30, 2024.

Eligible Applicants

Must be legal entities validly incorporated or registered in Canada.
For-profit and not-for-profit organizations such as companies, industry associations, research associations and Indigenous organizations and groups.

Eligible Projects

Capital investment projects stream:

Eligible projects will enable forest sector firms to adopt transformational technologies and diversify product streams, ensuring industry competitiveness and greater environmental outcomes. In the past these projects have resulted in the deployment of first-in-kind technologies and advanced bioproducts derived from wood, such as bioenergy, bioplastics, biochemicals, and next generation building materials.

Studies stream:

Eligible projects include studies linked to the advancement of innovation in the forest sector in support of a future capital investment or a strategic shift by forest sector firms. These studies can assess the market and technology feasibility of innovative projects and help identify strong potential for advancement toward full commercialization to support a future capital investment or a strategic shift by forest sector firms.

Funding details

The program uses a two-phase application process.

1. Expression of interest (EOI): This proposal process requests high-level information about your business and project.
2. Full Project Proposal (FPP): Applicants who are selected to move on to Phase 2 will be asked to submit additional information and documentation such as business financials and project plans.

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.