FedDev recently announced a new funding program called Investing in Business Growth and Productivity (IBGP). Funding will target projects that assist businesses to grow through market diversification and expanding facilities; or projects that increase adoption of new technologies and processes to improve productivity. Through a repayable contribution, companies can receive up to 25% of eligible project costs to a maximum of $20 million per project. Eligible costs for project activities include: labour, expertise, capital and non-capital. To be eligible under this program companies must be a Canadian incorporated business that is located in Southern Ontario and employ between 15 and 1000 employees.
Applications are reviewed on a ongoing basis and the application has 2 phases.
- Statement of Intent- Outlining, the proposed project, and its impacts and benefits.
- Once you receive confirmation from FedDev you will then submit the full application.
Funding will be made available as of April 1, 2014 and all project activities must be completed by December 31, 2018.