Canada-Ontario Job Grant (COJG)

Funding Opportunity: The Canada-Ontario Job Grant offers non-repayable grants to help employers provide high-quality employee training programs. It offsets training vendor costs to help employers hire top trainers and lead to lasting organizational improvements. There are three levels of funding contribution rates; how many employees the applicant company has, and whether new hires are included in the training factor into how much funding the training project is eligible for.

Application Deadline: Open application

Requirements:

• Have a license to operate in Ontario

• Apply for third-party training programs that are delivered in Ontario

• Abide by the Occupational Health and Safety Act and the Employment Standards Act

• Possess Workplace Safety and Insurance Board or private workplace safety insurance coverage

• Maintain third-party liability insurance coverage

• See here for additional requirements.

Industry Specific: No

Strategic Innovation Fund

Funding Opportunity: The Strategic Innovation Fund is a Canadian government funding program uniquely targeted at Canada’s industrial and technology sectors. It offers financial contributions (both repayable and non-repayable) valued at up to 50% of project costs with the purpose of promoting investment into the types of activities that drive sustained productivity and economic benefits. The amount and type of financial support offered by SIF is allocated on a case-by-case basis, as determined by the funding application review committee.

Application Deadline: Open application.

Requirements:

• Small, medium, and large businesses incorporated pursuant to the laws of Canada, who propose to do business in Canada and execute their project within the country

• Consortiums including Canadian post-secondary institutions, research institutes, for-profit businesses, and non-profit organizations

• See here for additional requirements.

Industry Specific: No

TECHNATION’s Career Ready Program

Funding Opportunity: As part of the Government of Canada’s Student Work Placement Program (SWPP), TECHNATION’s wage subsidy program, Career Ready supports businesses by financing their decision to hire a student for a work-term placement. This in turn creates a rewarding opportunity for the student to apply their learning in real-world settings and puts them on a path to a bright career. The program provides 50% (to a maximum of $5000.00) of a student’s pay in wage subsidies to employers. An increased subsidy of 70% (to a maximum of $7000.00) is awarded to employers hiring students from under-represented groups.

Application Deadline: Open application

Requirements:

• Have a company headquartered in Ontario

• Ideally, have a product that has been built with some early market traction. No significant revenue, assets or institutional investment

Industry Specific: Preference will be given to tech immersive roles that are within high-growth sectors

• Digital technology (IT, digital marketing, software engineering, etc.)

• AI / IoT / Machine Learning / Advanced Manufacturing

• Cybersecurity

• Agri-Tech

• Clean Tech

• Health Tech

Ontario Innovation Tax Credit

Funding Opportunity: The Ontario Innovation Tax Credit offers qualifying corporations a refundable tax credit for their research and development expenditures in Ontario. The credit rate is 8% for tax years starting after May 31, 2016. The maximum credit is $240,000 for post-May 31, 2016 tax years, subject to reduction based on income and capital thresholds. Eligible corporations need a permanent establishment in Ontario and must meet specific criteria. Qualified expenditures cover certain research costs in Ontario and can be claimed on Schedule 566, filed with the T2 corporation income tax return.

Application Deadline: Open application. See here to claim the tax credit.

Requirements:

• Has a permanent establishment in Ontario

• Carries out scientific research and experimental development in Ontario during the year

• Is eligible to claim the federal investment tax credit under section 127 of the federal Income Tax Act (Canada)

• Is not exempt from corporation income tax

• Has filed a scientific research and experimental development expenditures claim on federal form T661 for the tax year

Industry Specific: No

Scientific Research and Experimental Development (SR&ED) Program tax credit

Funding Opportunity: The SR&ED (Scientific Research and Experimental Development) tax incentives in Canada can benefit businesses engaged in research and development by reducing their income tax payable. Eligible entities, including corporations, individuals, trusts, and partnerships, can claim a deduction against their income or earn an investment tax credit (ITC) to offset their income tax liability. The ITC is typically earned at a basic rate of 15%, with some corporations eligible for an enhanced rate of 35%.

Application Deadline: Open application. See here to claim the tax credit.

Requirements: For work to be eligible for SR&ED tax incentives, it must be conducted in Canada and meet both of the following requirements:

• The work must be conducted for the advancement of scientific knowledge or for the purpose of achieving a technological advancement

• The work must be a systematic investigation or search that is carried out in a field of science or technology by means of experiment or analysis

• See additional requirements here

Industry Specific: No

NEXT Canada

Funding Opportunity: NEXT Canada is a non-profit made up of 500+ top Canadian academics, entrepreneurs, investors and founders. There are three distinct programs. The Next 36 program selects 36 highly entrepreneurial undergrads and recent graduates to transform their ideas into businesses in just eight months, with access to education, mentorship, and a strong entrepreneurial network. The Next AI program focuses on AI-based ventures, providing capital, mentorship, education, and network access to idea and early-stage teams. Next Founders targets seed and growth stage founders aiming to accelerate their businesses, offering customizable education led by industry experts. Application periods are open from October 17th to various dates in December and February, depending on the program.-square-foot space.

Application Deadline: Get notified when the 2024 application opens, here.

Requirements:

• Next 36 accepts undergrads, masters students and recent grads from schools across Canada, from any academic discipline

• Next Founders is for Canadian founders of scalable, high growth ventures

• Next AI criteria includes:

  • Stage of development: Discovery-Efficiency

  • AI Is core to the Idea/Company

  • Team is driven by its mission, open to mentoring, possesses in-depth technical expertise and/or a good understanding of the industry

  • A minimum of one business co-founder and one distinct technical co-founder who intend to receive a minimum of 10% of the company’s shares and hold Canadian citizenship / permanent residency or a valid work / study permit

  • Business model and market opportunity conducive to massive scaling

Industry Specific: See specific program for more details.