On April 1st, 2015, Canadian Manufacturers & Exporters (CME) held an information session outlining the details regarding the CME Smart program. The objective of this program is to support innovative projects that will integrate advanced technologies with products and processes to develop export opportunities. FedDev Ontario has injected about $18 million into this program, and CME will fund eligible projects for up to 35% of eligible costs to a maximum of $100,000. Eligible costs include the purchase and installation of equipment and consulting fees related to the project.
Manufacturing firms who are interested in this program must have between 15 and 1000 full time employees in Ontario, provide at least two years of recent financials such as reviewed audit statements and balance sheets, and be a current exporter. Eligible projects must have an advanced technology function, such as an investment in computer and network software to support manufacturing processes. The implementation of eligible projects must also lead to the creation of jobs.
Additional documentation manufacturers should provide in their application includes equipment purchases, customer validation, secured contracts, purchase orders, and invoices associated with the project. All projects must be completed on or before June 30th, 2017. All final performance reports must be submitted no later than September 1st, 2017.
NorthBridge Consultants has a successful track record of assisting manufacturers with the CME Smart application and can help identify projects that are eligible for this program. For more information, please contact us at info@northbridgeconsultants.com.
