Innovation Stream – Invest North Program
ACCESS THE INNOVATION STREAM
The Innovation Stream supports the research, development and commercialization of new and innovative technologies in Northern Ontario. Private-sector businesses alone, or in partnership with a public sector academic or research institution. For public-private partnership projects, the private-sector business is the lead applicant and the funding recipient. For public-private partnership projects, the partnering academic or research institution must have the relevant expertise and resources required by the private-sector partner to complete the proposed project.
What Is the funding?
- Funding for Applied Research and Development only projects
- Funding is in the form of a conditional contribution of up to 50% of total eligible costs to a maximum of $500,000.
Funding for Applied Research & Development and Demonstration & Commercialization Combined or Demonstration & Commercialization only projects
- Funding is in the form of a conditional contribution of up to 50% of total eligible costs to a maximum of $2 million.
Combined Federal and Provincial government funding may not exceed 75% of eligible project costs.
Funding for each project is determined by the NOHFC Board of Directors, and limited funding is available. Not all projects meeting the criteria will necessarily receive funding.
Our Focus
Our focus is the financial health of all of our clients. We ensure that we provide them with exceptional customer service through the entire funding process.
What Projects are Eligible?
Applied research & development projects, and demonstration & commercialization of new and innovative technologies.
NOHFC considers innovative technology projects based on the following definition: “the development or implementation of ideas to produce new or improved strategies, capabilities, products, services, or processes with a strong focus on ensuring to satisfy a market need or desire”.
Applicants have the choice to apply for support for applied research & development or demonstration & commercialization costs under separate applications or in one combined application.
In the event that an applicant chooses to include demonstration & commercialization costs in their project, NOHFC will not accept a subsequent application for the same technology.
For projects where the applicant elects to combine applied research & development, and demonstration & commercialization costs, before proceeding to the demonstration and commercialization phase, the applicant must:
- Own, have registered a patent for, or have the rights to exploit the intellectual property associated with the technology.
- Be able to demonstrate that the technology has been tested and fully validated.
Eligible applied research & development activities and associated costs include, but are not limited to:
- Direct internal technical labour costs
- Prototyping costs (engineering and design services and component purchase, fabrication and installation costs)
- Product testing
- Intellectual property protection costs
- Research and development services provided by public sector partners
Eligible demonstration & commercialization activities and associated costs include, but are not limited to:
- Direct internal technical labour costs
- Building or renovation costs specifically related to the commercialization of the new technology
- Prototype demonstration costs (engineering and design services and equipment purchases, fabrication and installation costs)
- Material costs
- Product certification costs
- Research and development services provided by public sector partners
- Marketing costs (in-person or virtual trade show assistance and marketing material design costs) – limited to 20% of total eligible project costs
What Projects are NOT ELIGIBLE?
Projects intended for internal efficiency purposes only are ineligible.
Ineligible activities and associated costs include, but are not limited to:
Land
Working capital
Administrative or other indirect operating costs
Labour costs for any person that owns 10% or more of the applicant business
In-kind contributions
Business Plans
Travel, accommodation and meeting costs
Office equipment and furnishings
Vehicles
Why Apply with us
Fortuo believes in each one of the applications that we support. Our detailed pre-qualification process leads to a higher rate of approval for each government funding program.
Evaluation Criteria
Factors that will be considered during evaluation of applications will include but not limited to:
Innovation meets the NOHFC’s definition of Innovation
Strength of the project’s detailed business plan
Net economic benefits for Northern Ontario
Demonstrated market need and demand
Management capacity
Business’ financial position
Supply chain impacts
Level of Risk
integrity. professionalism. results
What Our Dedicated Clients Are Saying
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Joel Marshall
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Jane Doe
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Jane Doe
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