The Prosperity Initiative aims to encourage small and medium sized businesses through not-for-profit organizations to undertake projects that will result in the diversification and enhanced competitiveness of Ontario’s regions and sectors through:
- The adaptation and adoption of new technologies, processes and skills to enhance business productivity in southern Ontario;
- The development of new industries or opportunities that will help diversify the economy of a region or community of southern Ontario; and/or
- The development and expansion of strategic economic clusters that will build on the assets and strengths of southern Ontario and increase its competitiveness within the global economy.
The initiative will have a two-phased application process. In Phase 1, applicants will complete a Statement of Intent outlining the applicant’s intent, project scope, alignment with Prosperity Initiative objectives, project stakeholders, future outcomes, overall costs and funding sources. Upon written confirmation from FedDev Ontario that the application may proceed to Phase 2, applicants may submit a full application and business plan for review.
The Prosperity Initiative aims to build on the strengths of businesses, not-for-profit organizations and regions to increase southern Ontario’s competitive advantages by supporting projects aligned with the following objectives:
- Productivity Enhancements – Projects aligned with this objective will accelerate the adoption of new technologies, processes and skills to enhance businesses and sectors in southern Ontario to achieve higher output in relation to their investments.
- Regional Diversification – Projects aligned with this objective will increase the number of new industries or opportunities in southern Ontario communities and regions with the potential to have long-term impacts on the community’s or region’s economic diversity.
- Building a Competitive Advantage – Projects aligned with this objective will build on the assets and strengths of southern Ontario businesses and regions to create or expand economic clusters and enhance their global competitiveness.
Applicants must be planning to undertake projects that result in the adaptation and adoption of new technologies, processes and skills development that will enhance business productivity in their sector or industry.
Priority will be given to projects most able to engage not-for-profit or private sector participation and generate significant long-term economic benefits. Eligible recipients will be not-for-profit corporations. Priority may be given to organizations representing a sector or industry in the following areas:
- Environmental science and technologies;
- Natural resources and energy;
- Health and related life sciences and technologies, including the food and beverage industry; and
- Information and communications technologies.
Not-for-profit corporations representing a sector or industry will be eligible for non-repayable contributions toward direct eligible project costs to a maximum of $20 million. Applicants will normally be expected to contribute a minimum of 10 per cent of eligible project costs. Contributions to not-for-profit corporations are normally non-repayable, provided the benefits from the contribution will accrue broadly to the industry or sector as a whole.
The applicant may propose to further distribute the contribution to third-party small- and medium-sized enterprise (SME) recipients in the form of non-repayable contributions to a maximum of $100,000 per third-party recipient. Such further distributions must comply with all other conditions of the initiative and require a minimum 50 per cent contribution from the SME recipient to the project.
How to Apply
- The following instructions are to assist you in filling out your application for funding under the Prosperity Initiative. Note this is a two-phased application process. Please refer to the Prosperity Initiative Guidelines to ensure your organization is an eligible recipient and your proposal activities and objectives fit within the Prosperity Initiative objective and criteria.
- It is recommended that you contact FedDev to discuss your proposal in advance of submission.
- Open the Statement of Intent (PDF, 299 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.
- Download and complete an Applicant Declaration on Lobbying. Attach to your Statement of Intent.
- Prepare a brief summary of how the proposed project will result in the relevant outcomes identified for the objective you are applying to (see guidelines, select one objective and one set of outcomes):
- Productivity Enhancements
- Regional Diversification
- Building a Competitive Advantage
- Attach to your application.
- Attach a copy of your organization’s most recent year-end financial statements to your application.
- 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.
- 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.”
- Please save and print a copy of the application package and the confirmation message for your records.
- Please print and sign the Statement of Intent and mail the original copy toFedDev Ontario within 10 business days of submitting your online application:
Prosperity Initiative
Federal Economic Development Agency for Southern Ontario
101 Frederick Street, Suite 702
Kitchener, Ontario
N2H 6R2
FedDev Ontario must receive, by mail, an original signed application form within 10 business days of receiving your online application.
Upon written direction from FedDev Ontario that your application may proceed to the second phase, you will be asked to submit a detailed business plan. Information required in the business plan and submission details will be provided to applicants who receive written direction to submit a full application for consideration.
Should you require the application form or supporting documents in an alternate format, please email FedDev Ontario or call 1-866-593-5505