Fund for Investment in Innovation (SOFII)

Eligible applicants are innovative Small and Medium-sized Enterprises (SMEs) located in Southern Ontario’s rural and urban communities who are planning to undertake projects for:

  • Late stage commercialization;
  • New product or service development;
  • New applications or markets; or
  • Development or implementation of new processes or technologies.

Eligible Organizations will:

  • Employ 50 to 500 employees, or identify that there is a strong likelihood they will reach 50 employees within the term of the loan
  • Be unable to obtain adequate and reasonable financing from other lending sources
  • Operate in Southern Ontario
  • Demonstrate job creation/retention for Southern Ontario residents
  • Be suitable for public funding
  • Establish a reasonable expectation of economic viability
  • Demonstrate the ability to repay funds
  • Have secured the necessary participation of other financial support – inclusive of possible additional funding, private investment and/or financial or equity partnerships by which monies are being provided
  • Provide evidence of their ability or experience to operate the business
  • Demonstrate that their project encompasses one of the following:
    • Late stage commercialization;
    • New product or service development;
    • New applications or markets; or
    • Development or implementation of new processes or technologies

SMEs wishing to apply for a loan from SOFII will be required to first complete a questionnaire providing a general overview of the project. These preliminary questionnaires will be available from your Regional Office or their website. See SOFII