SMART Funding Update

Monday, May 6, 2013

UPDATE: May 1, 2013 - SMART is continuing to accept applications for a limited time. There are a limited number of spots still available. Apply quickly to ensure you do not miss out on the opportunity. The intake process is expected to close on May 31, 2013 or earlier, depending on the number of applications received.

 NOTE: ALL PROJECTS MUST BE ABLE TO BE COMPLETED ON OR BEFORE SEPTEMBER 30, 2013.

The SMART Prosperity Now funding is to provide financial support to Southern Ontario manufacturers who will invest in product and process improvements that develop and / or expand export opportunities and global competitiveness. 

SMART Prosperity Now is a program built around two components; an assessment component and project funding component.

Through the project funding component, companies will receive a contribution of 33% of eligible costs up to a maximum of $75,000, whichever is less.

The assessment component will further help companies assess the current state of operations and understand the barriers they face in the global competitive market by working with a qualified expert and tools available through the assessment program to develop a vision and strategy. The assessment component will cover 50% of the costs up to $5,000 per assessment. The findings from this assessment will allow companies to implement a project under the prosperity funding program.

SMEs previously supported through CME SMART programming will be considered eligible however cumulative funding between previous SMART program and the new Prosperity Now cannot exceed $100,000. Other government funding sources are not acceptable.

Eligible Costs 

  • Capital Expenditures 
  • Modifications to existing capital equipment requires an audit prior to commencing the project and will require a final audit prior to final expense claims being approved.
  • Installation Costs (3rd party installation only)
  • Consulting Fees unrelated to completing the SMART funding application processes (industry standard rates only)
  • External Administration (maximum 5% of eligible and supported costs)
    • All admin costs must be clearly documented and submitted with expense claim. A template is available online for tracking.
  • Independent Market Assessment or Feasibility Study by a SMART approved consultant who conforms to guidelines - (covered under assessment application only).
  • Independent Business Marketing Plans (new plans only)
  • Foreign legal
  • Patents in foreign country
  • Trade Shows or Foreign Customer / Dealer Shows
    • Show booth acquisition
    • Trade show exhibitor registration for booth space
    • Trade show media advertising
  • Packaging redesign by third party
    • Translation services
    • Installation instructions
    • Warranty
  • Foreign country regulatory approvals/testing
  • Customer testing of product(s)
  • Foreign website development
  • Catalogues/Brochures development for foreign market by third party
  • Public Relations / Releases

 For Selection Criteria and other details, please go to http://www.cme-smart.ca/prosperity-now/funding/funding-selection-criteria.html