Canadian businesses and organizations in the manufacturing sector secured $227.6M in government grants, contributions and incentives from federal and provincial programs this July and August, according to new data from Fundingportal, a leading funding services and solutions provider.
July-August’s Top Recipients Include:
- A Kruger Products subsidiary in Sherbrooke, QC receives a $105M loan from the Government of Quebec to establish a new tissue paper factory (Source).
- Corrugated veneer manufacturer Corruven in Saint-Basile, NB receives $1M from the Atlantic Canada Opportunities Agency’s (ACOA) Business Development Program, $1.25M from Natural Resources Canada’s Investments in Forest Industry Transformation (IFIT) Program, and $247k from National Research Council of Canada’s Industrial Research Assistance Program (NRC IRAP) to innovate, export, boost sales and create jobs (Source).
- Koltech International Limited in Debert, NS receives an $843k innovation rebate from Nova Scotia Business Inc. to invest in its insulated glass fabrication line (Source).
How to Find Government Funding for Your Business?
- Define Your Objectives: Determine which of your upcoming projects could attract government funding. These typically focus on expansion, export, job creation and training, innovation, and technology adoption.
- Try an Aggregator: Visit websites like Fundingportal.com, which aggregate thousands of federal, provincial, and municipal programs across Canada. You can also visit government websites to supplement your research.
- Eligibility: Once your shortlist of programs is ready, double-check the eligibility criteria for each before applying. Funders report that around 80% of applications they receive are ultimately rejected for non-compliance, so make sure you meet all of the program’s requirements before you apply.