Investing in Advanced Technology?
CME SMART Advanced Technologies for Global Growth
Written by:
Nicolas DesRoches, Technical Writer.
Canadian Manufacturers and Exporters (CME), in conjunction with FedDev Ontario, launched the SMART Advanced Technologies for Global Growth (ATGG) program on December 1, 2014. This new round of funding includes $20 million to support small to medium enterprises looking to invest in advanced technology. The program is open until December 31, 2016, or until all the funds have been disbursed and all projects must be complete by June 30, 2017.
The SMART ATGG program is looking for projects that will lead to job creation, increased domestic and export sales, and the implementation of advanced technology and new equipment. The program will fund up to 35% of eligible project costs to a maximum of $100,000. Eligible costs include equipment and any supporting software, installation, and consulting fees related to completing the project.
The program defines advanced technology as “new technology that performs a new function or improves some function significantly better than commonly used technologies.” Eligible projects involve technology from one of ten listed categories and must include implementation of new equipment. Projects will be selected based on the number of jobs created, quantity of new domestic and export sales, type of advanced technology used, and assurances that the project will be completed within one year of application approval.
In order to be eligible for funding a company must meet the following criteria:
- Manufacture in southern Ontario
- Incorporated in Ontario for at least 2 years
- Have between 15-1000 full time equivalent employees
- Currently export and plan to continually export
- Investing in advanced technology and new equipment
