Get a repayable contribution of up to $500,000 to cover up to 50% of eligible costs for a project that focuses on growth, productivity, technology adoption, market development and investment attraction.
The Business Scale-up and Productivity (BSP) Stream aims to accelerate the growth of firms and assist with the adoption and adaptation of new, innovative technologies that support scale-up, productivity, development of and entry into new markets to help companies become competitive in both domestic and global markets.
Through this program, FedNor seeks to:
- Assist Northern Ontario firms to scale up and expand.
- Support technology demonstration and the commercialization of new technologies.
- Encourage the early adoption or adaptation of leading-edge technologies and processes to improve productivity.
- Increase businesses’ capacity to grow through market diversification and entry into domestic and global markets.
FedNor is targeting investments in innovative and trade-oriented businesses seeking to accelerate their growth.
Businesses: including an individual operating a business, partnerships, social enterprises, incorporated companies, corporations or co-operatives, or an Indigenous organization such as Indigenous/First Nation/Métis Settlement owned businesses, and all other types of enterprises.
Not-for-profit organizations: that provide services to businesses to support different stages of development to accelerate growth, enhance and assist scale-up (productivity enhancement, technology adoption, demonstration, etc.) or market expansion (e.g., sector based business-groups or associations, regional export promotion organizations, etc.).
Priority will be given to businesses.
- To be considered eligible, project benefits must accrue to Northern Ontario.
- All eligible applicants must be legal entities capable of entering into legally binding agreements.
- To be considered eligible for funding, applicants must demonstrate:
- A sustainable business model normally supported by two (2) years of operations.
- Financial capacity to complete the project and repay the contribution in full.
- Managerial, technical, and operational capacity to achieve the project’s stated objectives in a timely manner.
- Market/industry demand (e.g., how the project addresses a significant gap in the market; global opportunity to be seized within Canada; and evidence that Northern Ontario is uniquely positioned to capture market share).
- Potential for market growth, diversification of export markets and/or participation in global value chains.
- A viable project plan with achievable outcomes, supported by verifiable cost estimates.
This program is not intended to support smaller start-ups and entrepreneurs. Those entities may be eligible for Fed Nor funding as part of projects supported under the regional innovation ecosystems Stream (RIE) (e.g., business accelerators and incubators).