Funding for organizations that help businesses grow in southern Ontario: How funding works

3. How funding works

All funding is project-based, meaning that it must result in incremental outcomes from the project linked to Government of Canada priorities and is subject to a set of funding rules and reporting requirements. An application does not constitute a commitment from FedDev Ontario for financial assistance. If an application for project funding receives approval, you will need to sign a legally binding contribution agreement before funding can be provided.

Funding parameters

Funding parameter	Funding parameter description
Funding amounts	Applicants normally request a minimum of $125,000 up to a maximum of $10 million per project in non-repayable contribution funding.
Matching requirement (cost sharing)	Eligible project costs are shared between you and FedDev Ontario. Normally, FedDev Ontario's rate of support is 50% of eligible project costs. FedDev Ontario funding must be incremental and is not intended to replace or duplicate other government assistance. Preference may be given to projects that maximize funding from multiple other sources. Your source of funding (i.e., 50% or more of eligible project costs) may be comprised of cash contributions and in-kind contributions from other project partners (e.g., industry partners, other government fundingFootnote 1, etc.) Sources of matched funding must be identified at the time of application. If a project is approved, you will be expected to confirm all sources of the matching funding (e.g., bank statements, term sheets, letters of conditional funding, and other government funding) within 30 days.
Eligible costs	New costs essential to the project, such as equipment costs, expertise and labour. Refer to the Application Guide for details on cost categories.
Ineligible costs	Costs deemed unreasonable, non-incremental and/or not directly related to project activities, for example: land and building costs, operating costs, cost of amortization, refinancing of existing debts and more. Refer to the Application Guide for details on cost categories.
Project timeframe	Project start dates may vary. Proposed activities and related costs cannot begin before the date the application is submitted. Should your project be approved, any activities and related costs that occur before the date the application is submitted cannot be funded and are at the applicant's own risk. Projects, activities and budgets can span more than 1 year. On average, projects span between 1-3 years in duration.

Key funding conditions

• An application does not constitute a commitment from FedDev Ontario for financial assistance.
• The contribution amount is subject to availability of funding. FedDev Ontario reserves the right to make the final determination on the value of the contribution and the inclusion of any in-kind contributions.
• FedDev Ontario's funding contribution is based on a number of factors, including:
  • the minimum amount required for the project to proceed
  • the elements of the project activities selected for funding, and
  • the extent to which other available funding sources have been leveraged
• If a project is approved, you will be expected to confirm all sources of the matching funding (e.g., bank statements, term sheets, letters of conditional funding, and other government funding) and sign a contribution agreement within 30 calendar days of being notified.

Important note

• Funding will be reimbursed based on approved costs incurred and claimed throughout the project's duration.

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