The CME-SMART Prosperity Now program provides funding to manufacturers in South Ontario who commercialize technologies, enter new markets, invest in renewable energy, improve efficiency, and invest in manufacturing efficiencies. In January, FedDev Ontario announced that it would contribute $18.9 million to support Smart Prosperity Now.
SMART provides:
1. Up to 33 percent of costs for productivity improvement projects (up to a maximum of $75,000), and
2. Up to 50 percent of project costs for companies conducting productivity improvement assessments (up to a maximum of $5,000).
Applications are accepted on a first-come-first-serve basis until all funds have been committed. Manufacturers must have 15 to 1,000 employees, and be looking to invest in product/process improvements to expand export markets.