The Best Canadian Innovation Funding Programs for Entrepreneurs
We’ve searched high and low and connected with our innovation partners to give you the most comprehensive list of Canadian Innovation Funding programs we could find to help your startup on its path to commercialization and scale up. Keep this post bookmarked for updates and new programs as we discover them!
Need help finding funding? If you’re growing an innovative tech company you might be a great fit for ventureLAB. Come out to an orientation to learn more!
Canadian Innovation Funding Programs:
Concierge is a branch of the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) that offers free supports like one-on-one assistance from expert advisors and customized guidance in selecting the most relevant Canadian innovation funding programs to help you grow your business.
IRAP provides customized Canadian innovation funding programs to help startups and entrepreneurs accelerate the growth of their businesses through innovation and technology. Fun fact: IRAP also has an office at the IBM Innovation Space – Markham Convergence Centre where ventureLAB is co-located.
The Canada Foundation for Innovation has several programs including:
- Innovation Fund: A program to support the development promising technologies to become competitive on a global stage
- College-Industry Innovation Fund: A Canadian innovation funding program to enhance the capacity of colleges to support business innovation
- Cyberinfrastructure Initiative: A program that supports research data infrastructure projects that develop data resources that are capable of enabling leading-edge research on significant scientific, social and economic questions
- Exceptional Opportunities Fund: A case-by-cases basis funding program that allows for time sensitive research projects that support innovation
The Canadian Trade Commissioner Service offers several Canadian innovation funding programs including:
- Canadian International Innovation Program: Assistance for innovative Canadian companies to develop, adapt or validate technologies by working with international partners
- Going Global-Innovation: Support for Canadian researchers that wish to commercialize technologies through partnerships in international markets
- EUREKA international research and development network: Industrial technology, expertise and advisory supports, funding and markets into Europe and beyond
A federal tax incentive program that supports Canadian innovation through R&D.
BDC (Business Development Bank of Canada) provides technology loans that support technology investments in hardware, software and consulting services which could function as an incentive for companies to purchase from innovative companies.
A Canadian innovation funding program to develop clean technology projects that show strong market potential.
The Idea to Innovation program accelerates the pre-market development of promising technologies and promotes adoption into Canadian companies.
Next 36 accelerates the growth of young Canadian entrepreneurs by providing mentorship, capital, and unparalleled founder development.
Ontario Specific Innovation Funding Programs:
- Stream 1 (or, the Customer Demonstration Program) aims to demonstrate the value of a smart computing product/service with a strategic customer by matching market leaders and market disruptors.
- Stream 4 (or, Disruptive Technologies and IBM Bluemix Platform) offers Access to IBM Bluemix platform for 1 year for free (which is equal to a $120K credit) and up to $5000 in travel costs covered for its Soft Landing program with international IBM locations.
The Advanced Manufacturing Fund (AMF) is a $200-million fund delivered throughout Ontario province-wide by the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). The Canadian innovation funding program promotes continued growth of Ontario’s advanced manufacturing sector by supporting the development of innovative new technologies cutting-edge technologies.
Funding to support research and innovation in Ontario.
- Ontario Research Fund: Research Excellence: How to apply for funding to help cover the cost of research operations (e.g. salaries, supplies, etc.)
- Ontario Research Fund: Research Infrastructure: How to apply for funding to help cover the costs of research infrastructure (e.g., renovating facilities, purchasing equipment, etc.).
- Low Carbon Innovation Fund: Apply for funding to help you support proof-of-concept, prototype and pilot demonstration projects that will reduce greenhouse gas emissions in Ontario.
- International research projects: How to get funding for research projects with partners in China, India or Israel.
- Funding for academic research: How to get government funding to build a research team.
- Innovation reports: Asset maps and fact sheets on programs and services that support Ontario’s innovation economy.
A network of services and funding programs for researchers, entrepreneurs and tech companies.
A program that provides up to $50,000 toward the cost of an Embedded Executive’s salary. This program requires a contribution of $15,000 cash (or 30% of amount requested). This program is best suited for novel Ontario-based tech ventures in a later discovery stage or approaching validation and efficiency stage of development.
Did we miss a program? Have a suggestion? Leave a comment below or send Emily an email at [email protected]