Funding Alert: FedDev Ontario (FEDDEV)

FedDev ON accelerates growth by supporting cutting-edge technology, business scale-up, clean growth, and industrial transition to help Ontario businesses become globally competitive. The program welcomes projects that create new opportunities for underrepresented groups and promote growth across urban centres and small and rural communities alike.

FedDev ON accelerates growth by supporting cutting-edge technology, business scale-up, clean growth, and industrial transition to help Ontario businesses become globally competitive. The program welcomes projects that create new opportunities for underrepresented groups and promote growth across urban centres and small and rural communities alike.

This program is now accepting applications and the deadline is until June 24th 2024.

Program Funding Amount

• Loan of 35 – 50% of eligible project costs, ranging from $125,000 up to a maximum of $10 million per project
• Total government assistance cannot exceed 75% of non-capital and 50% of capital costs
• Funding is provided on a reimbursement basis after project costs are incurred
• Interest-free and unconditionally repayable
• Repayment begins 1 year after project completion, no penalty for early repayment

Eligible Applicants

• Incorporated in Canada or Ontario
• Located in southern Ontario
• Minimum 3 years of business operations and financial statements
• Minimum of 5 full-time (2000+ hours) T4 employees
• Financing in place to fund 50% of project costs

Note: NOT for start-ups organizations.

Program Objectives

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

• Innovative products & services: Late-stage (TRL 7-9) development of a new commercial product
• Improve productivity & competitiveness: Adopting new technologies and equipment, adopting clean technology, automation, and skills development. Preference for: Ontario-made equipment and technology; net new to the sector; integral to the Ontario supply chain.
• Scale-up and expand: Launching new products and services through business scale-up, reshoring production, integrating into domestic and global supply chains.

Eligible Projects

• Equipment, machinery and software
• Training costs for internal employees
• Renovations and leasehold improvements required for new equipment
• Third-party technical personnel
• Marketing and outreach activities
• Direct materials for testing/prototyping
• One-time direct labour costs

Thinking of applying for financing? These funds are highly competitive, contact us today to get started!