Regional Economic Growth through Innovation (REGI). Regional innovation ecosystems (FedNor)

“FedNor”

$25,000.00

Maximum Eligible Amount

Government Grant, Repayable Contribution

Fund Type

The Regional innovation ecosystems (RIE) Stream aims to create, grow and develop strong and inclusive regional ecosystems that support business growth and innovation, as well as the entrepreneurial environment necessary to foster more innovative regional economies and increase the competitiveness of small- and medium-sized enterprises (SMEs).

The Regional Innovation Ecosystems (RIE) stream aims to create, grow and develop strong and inclusive regional ecosystems that support business growth and innovation, as well as the entrepreneurial environment necessary to foster more innovative regional economies and increase the competitiveness of small and medium-sized enterprises (SMEs).

Through this program, FedNor seeks to:

grow and sustain strategic clusters and consortia to leverage regional strengths and support businesses to scale up and commercialize innovative products, technologies and services.
enhance the development and reach of business accelerators and incubators, and other organizations, which support entrepreneurs, start-ups and innovative companies with high-growth potential.
support projects led by innovation-oriented organizations to increase and promote business productivity and global competitiveness, and investment and talent attraction.

FedNor will make targeted investments in not-for-profit organizations that provide support to businesses at each stage of development in areas where Northern Ontario has the potential to have a leadership position and opportunities for growth. Investments made through FedNor's Regional Innovation Ecosystems stream will further enhance the capacity of ecosystems to support underrepresented groups, including women, Indigenous (First Nation/Métis/Inuit) Peoples and young entrepreneurs, promoting their entrepreneurial talent.

Expected Results

Projects supported through FedNor's programs work towards achieving one or more of the following departmental results:

Businesses in Northern Ontario invest in the development and commercialization of innovative technologies, products, services and processes.
Businesses in Northern Ontario are innovative and growing.
Communities in Northern Ontario are economically diversified.

Eligible Applicants

Not-for-profit organizations
Indigenous (First Nation/Métis/Inuit) communities and organizations
Municipalities and municipal organizations
A group of eligible recipients (e.g., alliance or consortium) that includes not-for-profit organizations, small and medium-sized enterprises, post-secondary educational institutions, industry associations

Eligible Activities

Examples of eligible project activities could include:

Business and market development and/or expansion of programs and services.
Commercialization services, networking and mentoring opportunities.
Financing programs and support.
Business innovation support services for women, Indigenous (First Nation/Métis/Inuit) Peoples and young entrepreneurs.
Improving the availability of risk capital to address a need in the region.
Innovative models to support the first sale of new products and services.
Training needed to support the adoption or adaptation of innovative technologies, processes and practices.
Enhancing investment attraction, export readiness and market diversification.
Facilitating supply chain development.
Youth internships to assist with regional ecosystems projects that support business growth and innovation.

Eligible Costs

Eligible costs include:

Project-specific cost of labour (e.g., wages and benefits) and of material used;
Capital costs: purchase of machinery, equipment and infrastructure;
Operating costs that are incremental, measurable and directly related to the project;
Professional, advisory and technical services fees;
Costs related to intellectual property;
Preproduction costs (e.g., technological development and commercial demonstrations);
Commercialization costs;
Costs related to expanding or maintaining markets;
Subcontracting costs;
Production and distribution of promotional material and management tools; and
Costs related to specialized services such as testing services, research and development services, technical or innovation services, sector development strategies in all markets and business networking.

Ineligible Costs

Any costs deemed not reasonable and/or not directly related to the eligible project activities are ineligible, including:

Activities in support of regular maintenance and/or ongoing operation costs;
Costs typically supported by federal/provincial transfer payments;
Acquisition of land and buildings;
Costs that result in direct benefits to a single or small number of private firms, unless specifically associated with an approved activity related to the delivery of service or program under the proposed project;
The purchase of any assets for more than the fair market value of the said asset; and
Costs for which the applicant has entered into a legal commitment/incurred prior to the eligibility date.

Funding Conditions

Assistance available includes repayable and non-repayable contributions. Contributions will normally be repayable where proposed projects generate profits for the eligible applicant.

The amount of the awarded contribution will be based on the minimum amount required for the project to proceed.

Applicants are normally eligible to receive up to 75 percent of eligible and supported costs.

For projects involving redistribution of funding to ultimate recipients (e.g. SMEs), the maximum disbursement of a contribution is capped at $25,000 per ultimate recipient. Ultimate recipients must provide a minimum 50 percent cash contribution.

Total government funding (including federal, provincial and municipal) up to 100% is supported.

Refer to Youth Internships for specific funding conditions.

Financial assistance from government programs may have tax implications for an organization. It is recommended that applicants obtain advice from a qualified tax professional.

Other Considerations

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:

Evidence of project funding.
Managerial, technical, operational and financial 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).
A viable project plan with achievable outcomes, supported by verifiable cost estimates.

Applicants may also be required to demonstrate how their project will be self-sustaining upon the completion of the project. For project proposals that will result in the creation of a new ongoing program/service, applicants may be required to demonstrate the financial sustainability of the new program/service beyond the project completion date (i.e., sustainable business model and/or a plan for generating revenue to grow or maintain service levels.)

Completing an application does not guarantee funding approval. All applications will be assessed as they are received. This will include a review of the business case and financial projections, the applicant’s past results, and the identification of any issues that may impact the project’s success. Approval may also depend upon funding availability.

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