Investing in Business Innovation Program

As part of our Conservative Government’s Next Phase of the Economic Action Plan, Ontario entrepreneurs can now access the new program, Investing in Business Innovation.  Investing in Business Innovation boosts private sector investment in start-up businesses to accelerate the development of new products, processes and practices and bring them to market. It also helps angel investor networks and their associations attract new investment and support the growth of angel investment funds.

Applications are being accepted on an ongoing basis.

Who is eligible?

  • Southern and eastern Ontario start-up businesses with less than 50 employees who have a signed draft term sheet from a recognized angel or venture capital investor

What activities are eligible?

For start-up businesses, eligible activities may include:

  • product and process applied research;
  • engineering design;
  • technology development;
  • product testing;
  • marketing studies;
  • certification;
  • proof of concept;
  • piloting and demonstration;
  • problem solving; and
  • commercialization of IP.

The following instructions are to assist you in filling out your application for funding under Investing in Business Innovation (IBI). Prior to submitting an application, you should contact FedDev Ontario and arrange to discuss your project with an IBI development officer.

  1. Open the Investing in Business Innovation application form (PDF, 298 KB, 4 pages) and select “Save As” at the top of the form. This will download the form to your local computer and allow you to save information as you complete it. Save your work often as you are completing the form.
  2. Download and complete an Applicant Declaration on Lobbying.
  3. Prepare all supporting documents as described in the Application Checklist.
  4. Attach the Applicant Declaration on Lobbying and all supporting documents to your application form by selecting the “To add attachments” button at the top of the form.
  5. Once your application package is complete, make sure you are connected to the Internet and then select the “Submit” button on the last page to send your application form and supporting documents to FedDev Ontario.
  6. Once your application package is received by FedDev Ontario, the following notification will be displayed on your screen: “Your form has been successfully submitted to FedDev Ontario.”
  7. Please save and print a copy of the application package and the confirmation message for your records.
  8. Please print and sign the application form and mail the original copy to FedDev Ontario within 10 business days of submitting your online application:
Investing in Business Innovation
Federal Economic Development Agency for Southern Ontario
101 Frederick Street, Suite 702
Kitchener, Ontario
N2H 6R2

 

Should you require the application form or supporting documents in an alternate format, please email FedDev Ontario or call 1-866-593-5505.