NEW FUNDING OPPORTUNITY – FIRST ROUND DEADLINE DECEMBER 8TH 2013
The WESTERN INNOVATION (WINN) INITIATIVE is offering a zero-interest, security free loan of up to 50% of total eligible costs but no more than $3.5m for each project.
Applications must be made by December 8th 2013 and if accepted will be funding mid-2014
WINN was tabled in the 2013 Federal Budget but details have only now been published. $100m is available.
Companies can apply to fund the:
- Introduction of a new product, process or service to new or existing markets
- Improvement of products, processes or services
- Technology development/acceleration
- Product certifications, including Controlled Goods Registration
- Pilot projects (first user) and technology demonstration projects
- Validation of market potential and end-user acceptance
- Support for marketing, human resources development, productivity, and process or quality improvement directly related to the commercialization of new opportunities
Elements of a Strong Proposal will demonstrate:
- Qualified, experienced and complete management team
- Technology readiness and sufficient IP
- Strong market potential (e.g. strategic or supply chain partnerships in place, potential customers identified, etc.)
- Financial capacity to execute and ability to repay
- Measurable economic benefits to Canada
WHO IS ELIGIBLE
- For-profit businesses incorporated to conduct business in Canada
- Less than 500 full – time equivalent (FTE) employees
- Have been in operation for at least one year
- Have operating facilities located in Western Canada
- Have a viable plan to commercialize an innovative, technology-driven, new or improved product, service or process within three years of project commencement
- Have sufficient intellectual property rights to carry out the proposed project and to commercially exploit the results of the project
- Have provided a current business plan that details the investment opportunity and recent financial statements
- Have confirmed, at the time of application, funding from all other sources, including government and non-government (non-government funding must represent at least 50 percent of the proposed project costs)
- Quantifiable design, engineering and other professional services
- Costs of prototype development materials consumed
- Costs of transportation of prototype to location of demonstration site
- Costs of third party certification, testing, quality assurance, etc.
- Costs of specialized insurance while item is onsite for demonstration
- Related travel costs
- Material and supplies costs consumed in the product development and production stages
- Capital costs for machinery and equipment
- Labour costs
- Procurement of project- related innovation services (independent of the applicant), including, for example, patenting costs
The first call for proposals is currently underway and will close on Dec 8th 2013. To discuss how RSG can assist you with your application; please contact Terra Mackie at 778.288.2455 or at Terra.Mackie@RevenueServices.ca
Please provide your email address to regularly receive funding updates.
You need to have an RSS reader to access this feature. Otherwise, click here.
Get to know more about Revenue Services Group on our Linkedin page.
ADDITIONAL NET INCOMEFunding & Tax Credits