SMART Prosperity Now Funding still open for applications!

Wednesday, May 1, 2013

SMART Prosperity Now funding is still open for applications and has money for good projects BUT TIME IS RUNNING OUT. This is a grant program and the key is that the project you are applying for must be export driven. You must be able to articulate how this grant will assist your export plans, and be able to demonstrate your export marketing strategy as part of the application to be considered.

There are 2 components to the program:

  1. Assessment - 50% grant up to a maximum of $5,000 per assessment. This assessment would be done by an external body (consultant or firm) to assist companies to assess the current state of operations and identify barriers to global competitiveness with a view to creating a strategy for exports. The findings from this assessment may allow your company to implement a project under the Project Funding component.

 

  1. Project Funding - 33% grant for eligible costs up to a maximum of $75,000.  This grant will not cover any internal costs (i.e. internal staff to travel to new markets, etc).

 

Note** - If you have previously received funding through the SMART program, you can still apply however the maximum cumulative total your company can receive is $100,000. I.E. if you had a successful project in the last round that received a $50,000 contribution, your maximum contribution in this round would be $50,000 rather than $75,000.

Note** - This fund is not stackable - in other words, other government funding sources are not acceptable.

 Eligibility Requirements:

  • Manufacturer in southern Ontario
  • Exporter or implementing a project that will provide an export opportunity (proof required)
  • Incorporated business for at least 2 years
  • 15 - 1000 employees per corporation within Ontario
  • One project per corporation (including any subsidiaries or affiliates with common ownership)
  • No other funding contributions for the activities applied for in this program

Eligible Projects:

  • New market development
  • Commercialization
  • Global market expansion
  • Investment in sustainable and green technology - i.e. recycling, air/water purification, sewage treatment, environmental remediation, waste management, green energy and technology, smart grid
  • Purchases of new or upgraded equipment and technology (hardware and software are NOT eligible)
  • Productivity improvements that are directly linked to export growth opportunities

Expenses:

This is a reimbursement grant - you must front the money and then use the online expense claim form to report to CME for reimbursement. All invoices over $1,000 must be submitted with proof of payment.

How to Apply:

All applications must be submitted by the manufacturer. 3rd party applications (i.e. from a consultant) will not be accepted.

Please visit http://www.cme-smart.ca/prosperity-now/funding/how-to-apply.html for the application information and web-based submission system.

For further information about the grant, please visit http://www.cme-smart.ca/prosperity-now/