CME: SMART Advanced Technology for Global Growth has been launched in Ontario and will remain open until December 31, 2016. The program, administered by the Canadian Manufacturers and Exporters (CME) and FedDev Ontario, aims to promote and develop southern Ontario’s manufacturing industry through funding advanced technology projects that lead to increased exports, domestic growth, job creation, and efficiency gains. With a $20 million injection of funding, CME may fund eligible projects up to a maximum of 35% of eligible costs (up to $100,000).
Eligible companies are incorporated manufacturers in southern Ontario with 15-1000 employees with at least two years of financial statements demonstrating a track record of growth and a strong potential to continue their success engaged in exporting or planning on doing so soon.
For this program, eligible projects involve adopting or adapting advanced technology from one of ten possible categories. The important thing to note is that all projects must contain an element of advanced technology, and an equipment component. A project which is focused on quality management certification or the adoption of a new ERP software system or increasing production capacity would not be eligible for this funding. Eligible costs to manufacturers may include plant equipment purchases and installation of new equipment.
Applications will be evaluated by the company’s ability to achieve expected results in developing new technologies and there must be a high expectation of success in the feasibility, clarity, and specificity of the project plan. As well, the project has to lead to economic and environmental benefits for Ontario, the creation of long-term and high-value employment, and improved competitiveness and economic growth in southern Ontario.
Successful applicants will be funded in three stages, with the first two stages equaling 80% of CME’s agreed-to contribution. Manufacturers should be aware that the deadline for all project activities is June 30th, 2017, and all reports must be submitted by September 30th, 2017.
We here at NorthBridge Consultants have a track record of success with the CME SMART program and we can help you assess whether your project is eligible, step you through the application process, help you complete your application, and assist with project reporting. For more information, please contact us at info@northbridgeconsultants.com.