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The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) has recently announced that an additional $25 Million in funding is available for Southern Ontario manufacturers for expenditures that relate to the adoption of new and innovative technologies and processes as well as international expansion. The new program is called SMART Prosperity Now, and will fund up to 33.3%
of eligible costs up to a maximum of $75,000 per manufacturer. The new program will not only focus on productivity improvements but also business expansion.
Below is a summary list of facts about the SMART Prosperity Now Program:
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$75,000 maximum funding per
company
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33.3% of eligible expenses
covered (excluding land, building, and materials)
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Applicants must have between
15-1000 employees
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Projects must not exceed
12-month in duration
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Eligible costs include marketing
expenses for new domestic and global expansion activities (ie. trade
shows, marketing plans, marketing materials, country product
regulations, press releases, foreign website expansion)
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Training, project management,
and direct labour not covered
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Applications are being accepted
until mid-2013 or when all funding is allocated. All application
submitted after March 31, 2013 must complete their spend by March
31, 2014.
The following templates were provided to us at the
SMART Prosperity Now Seminar hosted by the Canadian Manufacturers &
Exporters (CME) on
February 13, 2012.
For the Commercialization of New Technology Assessment Template,
please click here
For the SMART Business Case Template,
please click here
For the Productivity Assessment Template,
please click here
For the Market Feasibility Study Template,
please click here
For the Market Assessment Template,
please click here
To learn more about the CME,
please click here
If you would like to discuss your SMART Prosperity
Now project with a consultant from Teeger Schiller Inc., please call
Elliot Schiller at 1-888-816-0222 ext. 102, or email him at
SMART@teegerschiller.com |
