Whether you opt for a bank loan, an angel investor, a government grant or a business incubator, each of these sources of financing has specific advantages and disadvantages as well as criteria they will use to evaluate your business.
When a new business has limited business capital then it can be very difficult to expand, let alone launch successfully and many businesses fail because of a lack of funds, whether that is due to low initial business capital or on-going cash-flow.
Writing a comprehensive business plan will help you work out just how much business capital you should need to make a success of your business venture and this initial planning is the cornerstone of success for many businesses. However if your business plan is telling you that you need to generate more business capital then you’ll need to explore what options that you have.
Food Processors, Advanced Manufacturers, & Technology firms can readily secure $100K of non-repayable grants annually.
There has never been a more lucrative amount of government grant funding available. Food Processors, Advanced Manufacturers, & Technology firms can readily secure $100K of non-repayable grants annually. Grant funding is also far more versatile than SR&ED tax credits, with support for Hiring, Training, Product Development, Equipment, & Expansion.
Eligible Project Types
Product & Process Development
Capital Equipment Purchase
Employee Training
Export and Trade Show Attendance
Hiring
IRAP Funding
Fund your innovative process and product development through the IRAP program.
Companies can receive up to $150,000 for R&D, design, development, demonstration
projects, and prototyping. Typical first approval starts at $50,000.
Export Market Access
Companies can use this program to attend trade shows outside of Canada. The grant offers up to $30,000 for booth and at-show marketing costs. Companies can apply for up to 3 tradeshows at one time. Depending on application, this can also cover patents and other export related activities.
Canada Job Grant
This program provides 66% of the cost to train employees through a third party trainer. Companies can send their staff outbound or have inhouse training to complete training opportunities such as new software, leadership, technical, or operational education. In Ontario also known as COJG.
Hiring Programs
Companies can access up to $20,000 to subsidize the cost of a new employee’s salary. The grant allows companies to hire recent graduates from Canadian universities. Take advantage of this program to grow your business and bring on staff with new and innovative ideas. Take risks away from hiring and training and onboarding people.
The Strategic Innovation Fund (SIF)
Bolsters business investments in Canada’s most dynamic and innovative sectors by supporting innovative business activities such as R&D projects, firm expansion, attraction of large-scale investments to Canada and collaborative technology demonstration projects. Focusing on support requests over $10 million, the fund connects hundreds of projects to other programs and services.
Funding Programs
Region
Accelerating Innovations Into Care
Alberta
Accessible Technology Program (ATP)
Canada-wide
Advanced Manufacturing and Innovation Competitiveness (AMIC)
Ontario
Aerospace Regional Recovery Initiative (ARRI)
Canada-wide
AG Action Manitoba
Manitoba
AgriAssurance: SME Stream
Canada-wide
Agricultural Clean Technology Program (ACT)
Canada-wide
AgriInnovate
Canada-wide
Agri-Tech Innovation Cost-Share Program
Ontario
Alberta Innovates: Voucher Program
Alberta
Alberta Media Fund
Alberta
Alberta-Ontario Innovation Program
Ontario
APMA: Equity, Diversity and Inclusion (EDI) Fund
Ontario
Business Scale-up and Productivity Program (BSP)
Ontario
Canada Community Revitalization Fund (CCRF)
Canada-wide
Canada Cultural Spaces Fund (CCSF)
Canada-wide
Canada Digital Adoption Program (CDAP)
Canada-wide
Canada Job Grant (CJG)
Canada-wide
Canada Media Fund: Experimental Stream
Canada-wide
Canada Small Business Financing Program (CSBFP)
Canada-wide
Canada Summer Jobs
Canada-wide
Canada Travelling Exhibitions Indemnification Program
Canada-wide
Canadian Agricultural Partnership (CAP) Alberta
Alberta
Canadian Agricultural Partnership (CAP) Federal
Canada-wide
Canadian Agricultural Partnership (CAP) Ontario
Ontario
Canadian Agricultural Strategic Priorities Program (CASPP)
Canada-wide
Canadian Food Innovation Network (CFIN)
Canada-wide
Canadian International Innovation Program (CIIP)
Canada-wide
CanExport
Canada-wide
Career-Ready with CTMA: Expanding Opportunities
Ontario
Celebrate Ontario Blockbuster (COB) Program
Ontario
Commemorate Canada Program
Canada-wide
Community Support, Multiculturalism, and Anti-Racism Initiatives Program
Canada-wide
Creative Export Canada (CEC)
Canada-wide
Customer Demonstration Program
Ontario
Dairy Processing Investment Fund (DPIF)
Canada-wide
Eastern Ontario Development Fund (EODF)
Ontario
Electric Vehicle Infrastructure Demonstration (EVID) Program
Canada-wide
ENCQOR 5G SME Technology Development Program (5G SDP)
Ontario
Export Support Fund
Alberta
Forest Sector Investment and Innovation Program (FSIIP)
Ontario
Green Municipal Fund
Canada-wide
Greenhouse Technology Network (GTN)
Ontario
Healthy Hire Manitoba Program
Manitoba
IESO Conservation Fund
Ontario
Industrial Research Assistance Program (IRAP) – National Research Council (NRC)
Canada-wide
Industry Commercialization Associates Program
Alberta
Industry R&D Associates Program
Alberta
Innovation for Defence and Security Program (IDEaS)
Canada-wide
Innovative Solutions Canada (ISC)
Canada-wide
Interactive Digital Media (IDM) Fund
Ontario
Investments in Forest Industry Transformation (IFIT) Program
Canada-wide
Jobs and Growth Fund (JGF)
Ontario
Manitoba Industrial Opportunities Program (MIOP)
Manitoba
Market Readiness Program (OCI)
Ontario
Mitacs Accelerate
Canada-wide
Mitacs Elevate
Canada-wide
Museums Assistance Program (MAP)
Canada-wide
NGen Manufacturing Program
Canada-wide
NOHFC INVEST North Program
Ontario
NOHFC People & Talent Program
Ontario
Northern Ontario Heritage Fund Corporation (NOHFC)
Ontario
NSERC Alliance
Canada-wide
Ontario Automotive Modernization Program (O-AMP)
Ontario
Ontario Human Capital Research and Innovation Fund (OHCRIF)
Ontario Manufacturing Training Program (OMTP)
Ontario
Ontario Vehicle Innovation Network (OVIN) WinterTech Development Program
Ontario Vehicle Innovation Network (OVIN): Talent Development Program
Ontario
Poultry and Egg On-Farm Investment Program (PEFIP)
Canada-wide
Product Demonstration Program
Alberta
Protein Industries Canada
Canada-wide
R&D Partnership Fund – Electric Vehicle (EV) Stream 2
Rural Economic Development Fund (RED)
Ontario
Scientific Research and Experimental Development (SR&ED)
Canada-wide
SD Tech Fund
Canada-wide
Skills Catalyst Fund
Ontario
SONAMI
Ontario
Southwestern Ontario Development Fund (SWODF)
Ontario
Strategic Innovation Fund (SIF)
Canada-wide
Supply Chains and Logistics Excellence AI (SCALE.AI)
Canada-wide
Supply Management Processing Investment Fund (SMPIF)
Canada-wide
thriveFORWARD
Ontario
Tourism Development Fund (TDF)
Ontario
Tourism Economic Development and Recovery Fund
Ontario
Western Business Scale-up and Productivity (BSP) Program
Western Canada
Youth Employment Program (IRAP)
Canada-wide
Zero-Emission Vehicle Awareness Initiative (ZEVAI)
Canada-wide
Zero-Emission Vehicle Infrastructure Program (ZEVI)
Canada-wide