New SMART Funding Available to Cornwall Manufacturers
December 4, 2014Cornwall Ontario – A new funding program is in place to help Cornwall manufacturers grow.
The SMART Advanced Technologies for Global Growth promotes the competiveness of Canadian manufacturers and enables the successful export of Canadian goods and services to markets around the world.
To be eligible for SMART Advanced Technologies for Global Growth funding, applicants must be:
- a small – mid size manufacturer in Southern Ontario
- with between 15 – 1000 employees in southern Ontario
- looking to invest in advanced technology assessments and projects.
The SMART Advanced Technologies for Global Growth program has been officially opened to accept applications. To apply for funding, click here.
The program has benefited with $20 million in funding from FedDev Ontario through the Investing in Business Growth and Productivity initiative. FedDev Ontario is partnering with Canadian Manufacturers & Exporters (CME), Canada’s leading trade and industry association.
SMART Advanced Technologies for Global Growth will support southern Ontario manufacturers in accelerating their investment in advanced technologies, including information and communications technologies, robotics, additive manufacturing (3D printing), sensor-based technologies, instrumentation, automated materials handling, nanotechnologies, advanced green technologies, and advanced communications technologies.
The program will support two types of projects:
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Advanced Technology Assessment by qualified professionals who will examine the manufacturing performance of a company and recommend how advanced technologies could be implemented to improve the company’s productivity and capabilities. Advanced techn ology assessments will be eligible for funding of up to 50 percent of eligible costs to a maximum non-repayable contribution of $15,000.
- Advanced Technology Adaptation/Adoption project that will focus on improving productivity through the adaptation or adoption of new or upgraded advanced technologies, materials or processes. Advanced technology projects will be eligible for funding up to 35 percent of eligible costs to a maximum non-repayable contribution of $100,000.
CME expects to support up to 200 manufacturers through this program. Preference may be given to companies that have not received previous funding from CME and for projects that diversify a regional economy.
Eligibility requirements and further details are available on the CME SMART Advanced Technologies for Global Growth website.
About FedDev Ontario’s Investing in Business Growth and Productivity Initiative
The Investing in Business Growth and Productivity (IBGP) initiative focuses on established businesses that have potential to be global players. It also leverages the expertise of not-for-profit organizations to strengthen the productivity and global competitiveness of southern Ontario businesses.
Funding is available to:
- Grow established businesses through facility expansion or improvements;
- Increase business adoption of new technologies and processes to improve productivity; and
- Increase business capacity to participate in global markets, diversify markets and integrate in global value chains.
Applications are being accepted and assessed on an ongoing basis. Eligibility requirements and further details are available on the FedDev Ontario website