thriveFORWARD

With the support of FedDev Ontario and the Government of Canada’s Jobs and Growth Fund, NCFDC has launched thriveFORWARD to accelerate industrial investment in innovation capital across southern Ontario. By making forward investments in the talent, technology and industries of the future, we can enhance entrepreneur-led growth in strategic sectors and across multiple priority pathways. Eligible projects include the commercialization of innovation or the adoption of an innovation by a startup or SME, prioritizing critical sectors, diverse organizations and equity-deserving entrepreneurs that are investing in clean inclusive growth. Funding amounts and conditions vary in each case (see below). For more information about diversity, equity and inclusion, we encourage entrepreneurs to explore GBA+ and the Government of Canada’s 50–30 Challenge, as well as supplier diversity via our partner, CAMSC. The thriveFORWARD initiative will help participants future-proof their businesses, build resiliency and prepare for long-term growth by transitioning to a green economy, fostering an inclusive recovery, enhancing competitiveness, and by creating jobs across southern Ontario. Now is the time to innovate, grow and thriveFORWARD.

Grant Deadline

2025-01-06

Funding Amount

$25,000

Type of Grant

Grant

Sectors

All Sectors

Demographics

Incorporation

For Profit

Perks

Region Restriction

This grant is restricted to whole of Canada

Keywords

Age Restriction

This grant is age restricted from 18 to 100

Eligibility and Requirements

Both startups and SMEs (small- and medium-sized Enterprises) are eligible for thriveFORWARD.“Startup” means an early-stage technology-driven company that is:

• A registered for-profit incorporated business, partnership or cooperative;
• Located in southern Ontario;
• Formed on or after January 1, 2020; and
• At the pre-revenue/prototype stage to early commercialization stage.

Approved startups receive non-repayable performance-based funding matching up to $25,000 in certified incremental private investment as of April 19, 2021, with funding released based upon satisfactory achievement of agreed-upon major milestones demonstrating investment in the adoption of advanced technologies. The leverage minimum is 1:1.

“SME” means:

• A registered industrial for-profit incorporated business, partnership or cooperative;
• Located in southern Ontario;
• Having fewer than 500 full-time equivalent (FTE) employees; and
• Having $100,000 to $100 million in annual revenue declared in Canada during its last complete tax reporting year (or during the last 12 months for monthly and quarterly filers).

Approved SMEs will receive non-repayable performance-based funding for incremental project activities that invest in innovation capital (talent and technology) with 50% reimbursement of eligible and approved costs up to $100,000 (project leverage minimum 1:1).

Grant Application website

https://ncfdc.ca/thriveforward/

Contact

tf_sme@ncfdc.ca

tf_startup@ncfdc.ca