Funding for Business Growth in Southern Ontario

ByLaunchKO
Map of Southern Ontario with icons representing innovation, sustainability, and business growth, highlighting funding opportunities ranging from $125,000 to $10 million for not-for-profit organizations.

Funding for Organizations That Help Businesses Grow in Southern Ontario: What You Need to Know

Are you part of a not-for-profit or community development organization looking to drive economic growth, foster innovation, and support entrepreneurship in southern Ontario? The fall 2024 application intake period for FedDev Ontario funding is open until December 20, 2024, 4:59 pm EST.

This guide will walk you through what’s available, who can apply, and how to get started.

1. What FedDev Ontario Funds

FedDev Ontario provides financial support to not-for-profit and community development organizations that help businesses grow and thrive. Funding is available for projects that:

  • Foster innovation ecosystems to support startups and new ideas.
  • Encourage inclusive and sustainable economic growth.
  • Offer mentorship and training to support new entrepreneurs.
  • Transform and diversify local economies to unlock new opportunities.

FedDev Ontario is particularly interested in projects aligned with these fall 2024 priorities:

  • Clean economic growth: Supporting sustainability and green job creation.
  • Growth companies: Accelerating the development of high-growth businesses.
  • Technology: Advancing projects in cutting-edge sectors.
  • Industrial transition: Helping traditional industries adopt innovative technologies.
  • Automotive suppliers: Enabling the transition to Zero-Emission Vehicles (ZEV).

This funding is designed to help organizations drive positive change in Southern Ontario’s business landscape.

2. Who Can Apply?

The program is designed for not-for-profit and community development organizations that:

  • Operate in southern Ontario.
  • Support companies in achieving sustainable economic growth and innovation.
  • Provide mentorship, training, or direct support to entrepreneurs.

These may include:

  • a group or consortium of collaborating partners
  • business accelerators and incubators
  • Indigenous (First Nations, Métis and Inuit Peoples) not-for-profit organizations
  • innovation centres
  • municipalities and other municipal-type organizations
  • post-secondary institutions
  • other not-for-profit and community development organizations

3. How Funding Works

Eligible projects can receive non-repayable contributions ranging from $125,000 to $10 million per project. These funds are designed to help organizations to:

  • Build innovation ecosystems.
  • Diversify local economies.
  • Unlock new business potential.

4. How Projects Are Assessed

Your project will be evaluated based on:

  • Alignment with fall 2024 priorities.
  • Potential for regional impact and inclusivity, with a focus on underrepresented groups and smaller communities.
  • Sustainability and growth opportunities, including green initiatives and cutting-edge industries.

5. When to Apply

The fall 2024 intake period is open now and runs until December 20, 2024, at 4:59 PM EST.

6. Application Guide

To ensure your application stands out:

  • Clearly outline how your project aligns with one or more fall 2024 priorities.
  • Highlight the anticipated economic and community impact.
  • Provide a detailed budget and timeline.

7. How to Apply

Ready to take the next step?

If you have questions, reach out to FedDev Ontario directly for personalized guidance.

Curious about how we help small businesses? Take a look here.

Similar Posts