Every month, Fundingportal.com tracks which companies and organizations in the manufacturing sector secured government incentives and provides you with insights on how to find and secure funding for your business.
This Month’s Featured Grants
1. Algoma Steel Inc. received $60M from FedDev Ontario and $30M from the Strategic Innovation Fund to create and maintain 3,050 jobs in Sault Ste. Marie. The company is investing $600M over eight years to adopt new technologies, improve productivity, and sustain global competitiveness (Source).
2. CelluForce Inc., a Windsor, QC-based producer of nanocrystalline cellulose, got $6.4M from Natural Resources Canada and the Government of Quebec to turn its facility into the world’s first full commercial demonstration-scale plant of its kind (Source).
3. Surrette Battery Company Ltd., a Springhill, NS-based manufacturer of deep cycle lead acid batteries, attracted $2.4M from the Atlantic Canada Opportunities Agency’s (ACOA) Regional Economic Growth through Innovation Program and a $1.2M Innovation Rebate from Nova Scotia Business Inc. (NSBI) to expand its facility and incorporate advanced technologies into its production line (Source).
Are these funds right for your business?
• FedDev Ontario is a federal regional development agency serving southern Ontario. It recently launched the Business Scale-up and Productivity program to accelerate growth and assist with the adoption of new, innovative technologies that support scale-up, productivity, and the development of and entry into new markets.
• The Strategic Innovation Fund is a federal program that supports large-scale innovation projects ($20M+) in all industry sectors.
• ACOA’s Regional Economic Growth through Innovation Program is a new program that supports business scale-up and productivity and the development of regional innovation ecosystems.
• NSBI’s Innovation Rebate Program helps businesses to increase their global competitiveness.
Fundingportal assists Canadian manufacturers to get funded. Learn more.