The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) is a government initiative aimed at supporting innovation and economic growth in southern Ontario.
Established in 2009, FedDev Ontario offers various funding programs and services to businesses, non-profits, and community organizations to help them grow, innovate, and increase their competitiveness.
FedDev Ontario offers substantial financial support, providing repayable contributions ranging from $125,000 to $10 million per project. This funding is designed to help you take your innovative ideas to the next level. Whether you’re developing new products, enhancing productivity, or expanding into new markets, these funds can be crucial. FedDev places a strong emphasis on projects that promote clean economic growth, advance technology, support industrial transition, and help high-potential companies scale up and grow.
What are the criteria for businesses to apply? What does the application process look like? Is there a way to expedite the application process so that you can focus on your business, not the paperwork?
The answers to these questions and more, below.
In this article you’ll find:
- Who is FedDev Ontario funding for?
- What FedDev Ontario funding opportunities are available?
- What is the criteria to qualify for FedDev Ontario funding?
- What is the FedDev Ontario funding application process?
- Streamline the application process with expert support
Who is FedDev Ontario funding for?
The FedDev Ontario program is designed to support a wide range of stakeholders in southern Ontario. Here are the primary groups that can benefit from this program:
- Businesses: Both small and large businesses that are incorporated can apply for funding. The program supports businesses that are developing, commercializing, or producing innovative products, processes, or services. It also aims to help businesses improve their productivity, capacity, and competitiveness, as well as those looking to scale up and expand into new markets.
- Non-Profit and Community Economic Development Organizations: These organizations can apply for funding to support businesses, grow economic networks, and strengthen the economic resilience of communities. They can also help in fostering inclusive growth and creating opportunities for underrepresented groups.
- Indigenous Businesses and Organizations: Specific support and dedicated assistance are available for Indigenous businesses and organizations to help them navigate the available programming and services.
- High-Potential Firms in Cutting-Edge Sectors: This includes businesses in sectors such as artificial intelligence, cybersecurity, medical technologies, digital health, and agri-tech. These projects are prioritized to accelerate business development and growth.
- Projects Focusing on Clean Economic Growth: Businesses working on projects that contribute to emissions reductions, create sustainable and green jobs, and support the greening of the economy are also key beneficiaries.
Overall, the program is designed to stimulate economic development, foster innovation, and promote inclusive growth across various sectors and communities in southern Ontario.
What FedDev Ontario funding opportunities are available?
FedDev Ontario offers several funding opportunities to support businesses, non-profits, and community organizations. Here are some of the key funding programs:
- Business Scale-up and Productivity (BSP) Program:
- Purpose: Helps businesses to scale up, improve productivity, and expand into new markets.
- Funding: Provides repayable contributions from $500,000 to $10 million.
- Eligible Projects: Those focusing on innovation, improving productivity, and expanding market presence.
- Eligibility: Incorporated businesses that have been operating for at least two years.
- Regional Innovation Ecosystem (RIE) Program:
- Purpose: Supports not-for-profit organizations that foster innovation, commercialization, and growth of businesses.
- Funding: Typically non-repayable contributions.
- Eligible Projects: Initiatives that enhance the innovation ecosystem and provide support to high-growth businesses.
- Eligibility: Not-for-profit organizations, including business accelerators and incubators.
- Community Economic Development and Diversification (CEDD) Program:
- Purpose: Aims to develop, diversify, and transform local economies by supporting small businesses and creating jobs.
- Funding: Provides both repayable and non-repayable contributions.
- Eligible Projects: Projects that stimulate economic growth, attract investment, and foster business development.
- Eligibility: Community and not-for-profit organizations, Indigenous organizations, and municipalities.
- Jobs and Growth Fund:
- Purpose: Helps businesses and organizations create jobs and position local economies for long-term growth.
- Funding: Offers both repayable and non-repayable contributions.
- Eligible Projects: Projects that focus on clean growth, green jobs, and the adoption of new technologies.
- Eligibility: Businesses, not-for-profits, and community organizations across various sectors.
- Canada Community Revitalization Fund (CCRF):
- Purpose: Supports infrastructure projects that help communities rebound from the pandemic and stimulate local economies.
- Funding: Non-repayable contributions.
- Eligible Projects: Projects that revitalize communities, improve community infrastructure, and enhance community spaces.
- Eligibility: Municipalities, non-profit organizations, and Indigenous communities.
If I’m a for-profit business, what is the criteria to qualify for FedDev Ontario funding?
To qualify for FedDev Ontario funding, businesses must meet specific criteria. Here are the detailed eligibility requirements:
- Business Type and Location:
- Must be a for-profit entity.
- Located or expanding in southern Ontario.
- Can include co-operatives and Indigenous (First Nations, Métis, and Inuit Peoples) businesses.
- Operational and Employment Criteria:
- Incorporated in Canada or Ontario.
- Have a minimum of 5 full-time employees.
- At least 3 years of business operations.
- Eligible Activities:
- Developing, commercializing, and/or producing new and innovative products, processes, and services:
- Late-stage development of a new product for sale.
- Process improvements that reduce environmental impact.
- Showcasing and demonstrating new technology.
- Conducting market diagnostics and studies.
- Improving productivity, capacity, and competitiveness:
- Acquiring, adapting, or adopting new technologies or processes.
- Enhancing production efficiency and capacity.
- Adopting clean technologies.
- Increasing business management capacity.
- Improving processes for increased efficiency, including automation.
- Scaling-up or expanding business lines:
- Launching new products or services.
- Integrating into domestic and global supply chains.
- Leveraging venture capital or angel capital investment.
- Reshoring or onshoring production, R&D mandates, and expertise.
- Developing, commercializing, and/or producing new and innovative products, processes, and services:
- Expected Results:
- Create and maintain jobs.
- Grow revenue.
- Increase exports.
- Build economic partnerships and collaborations.
- Leverage private sector funding.
- Generate sales from new products, services, or processes commercialized.
- Assessment Criteria:
- Alignment with intake priorities (e.g., clean economic growth, technology, industrial transition).
- Expected project results.
- Incrementality of the project.
- Quality of the project plan and budget, including contributions of project partners.
- Managerial, technical, operational, and financial capacity.
- Degree of risk involved.
For more details on the specific criteria and how projects are assessed, you can visit the FedDev Ontario website.
What is the FedDev Ontario funding application process?
The application process for FedDev Ontario funding has recently been updated to be more user-friendly and predictable. The process is designed to be straightforward and accessible, with applications accepted three times a year (fall, winter, and spring), with the next intake period being in fall 2024.
It can be hard to find the time to sit down and fill out lengthy applications. Here’s what to expect if you start the process on your own.
What are the steps to apply for FedDev funding?
- Initial Contact: Prospective applicants are encouraged to contact FedDev Ontario at any time to discuss their needs and ask questions.
- Application Submission: Applications can be submitted online, by email, or by mail, 24/7 during the intake period. The process involves providing detailed information about the project and meeting specific criteria such as innovation, productivity improvements, and market expansion.
- Acknowledgment and Review: Within two business days of receiving a signed application, FedDev Ontario acknowledges receipt. The time required to process the application varies based on project complexity and completeness.
- Information Sessions: FedDev Ontario offers virtual information sessions to guide applicants through the new process and address any questions.
A summary of the criteria for funding
To qualify for funding, businesses must:
- Develop, commercialize, or produce innovative products, processes, or services.
- Improve productivity, capacity, and competitiveness.
- Scale-up and expand to enter new markets or reach new customers.
Priority is given to projects focusing on clean economic growth, growth companies, technology, and industrial transition. Additionally, projects that support underrepresented groups and promote growth in both urban and rural areas are highly encouraged.
What’s the time commitment to apply for FedDev funding?
While the application process has been streamlined, the time required can vary depending on the project’s complexity and the completeness of the application. However, FedDev Ontario aims to process applications as quickly as possible to facilitate timely investments.
Overall, the new application process is designed to be as efficient and client-focused as possible, reducing the burden on applicants and ensuring that support is accessible to those who need it.
Streamline the application process with expert support
We understand that running a business demands your full attention, and managing the complexities of funding applications can be overwhelming.
This is where working with a funding advisor can make all the difference.
You don’t need to invest significant time in meeting specific deadlines or navigating the intricate details of the application process. Our team of professional advisors, with years of experience in providing funding support and digital strategy to businesses, is here to handle everything for you.
Let us support the best application you can submit
We know you’re busy focusing on growing your business, so let us take on the burden of meeting application deadlines and fulfilling detailed requirements.
Our funding advisors will complete the application on your behalf and submit it through the appropriate channels. This not only saves you valuable time but also ensures that your application is professionally prepared, maximizing your chances of securing the funding you need.
The benefits of working with a funding advisor
When you partner with our seasoned funding advisors, you gain access to a wealth of expertise and resources:
- Expert Guidance: Our advisors are well-versed in the intricacies of FedDev Ontario’s funding programs. They know exactly what the application reviewers are looking for and how to present your project in the best light.
- Time Efficiency: By letting us handle the application process, you can focus on what you do best—running your business. We’ll ensure that all deadlines are met without you having to worry about the details.
- Strategic Planning: Securing funding is just the first step. Our advisors will work with you to develop a comprehensive business strategy that outlines how to effectively invest the funds. Whether it’s upgrading your software, implementing AI technology, or scaling up operations, we provide a roadmap for success.
- Increased Success Rate: With our track record of successfully helping businesses obtain funding, you can be confident that your application will be competitive and well-crafted.
- Ongoing Support: Our relationship doesn’t end once the funding is secured. We continue to support you with strategic advice and assistance, ensuring that the funds are utilized effectively to achieve your business goals.
Focus on your business, not the paperwork
At New Motto, we understand that your priority is to focus on growing your business, innovating, and serving your customers. By partnering with our funding advisors, you can leave the minutiae of the application process to us. We’ll handle everything from initial contact to final submission, ensuring a smooth and efficient experience.
Let us streamline your path to securing the funding you need, so you can concentrate on what matters most—your business’s success and growth.
Together, we can turn your vision into reality with the right financial support and strategic planning.
For more information on how we can assist you with the FedDev Ontario funding application process, please get in touch with our team of experts today.
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