Manufacturers got $46.1M in government funding in June
Canadian businesses and organizations in the manufacturing sector secured $46.1M in government grants, contributions and incentives from federal and provincial programs this June. Can your business benefit?
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Canadian businesses and organizations in the manufacturing sector secured $46.1M in government grants, contributions and incentives from federal and provincial programs this June, according to new data from Fundingportal, a leading funding services and solutions provider.
June’s Top Recipients Include:
- TEKNA Plasma Systems Inc. in Sherbrooke, QC receives $20M from the Strategic Innovation Fund, $1.1M from the Quebec Economic Development Program, $9M from ESSOR, and $433.7k from the Mesure de formation de la main-d’œuvre, volet Entreprises [Workforce training measure, Business stream] and Concertation pour l’emploi [Working together for jobs]. The company will undertake a $128.4M project to produce innovative metallic powders used in additive manufacturing and electronic products, and create 170 jobs (Source).
- Morgan Advanced Materials, Composites and Defence Systems in Burlington, ON secures a $404.8k contract from the Build in Canada Innovation Program to deliver its pre-commercial light-weight armour to Defence Research and Development Canada (Source).
- Les industries P. F. in Saint-Martin, QC receives $350k from ESSOR and $2.35M from Investissement Québec. The company specializes in transforming wood for use in the fence and mattress industry. It is undertaking a $7.4M project to improve its productivity and acquire cutting-edge robotic equipment (Source).
Are These Funds Right for Your Business?
- The Strategic Innovation Fund provides funding to innovative Canadian businesses with large-scale projects (the requested contribution must be over $10M).
- The Quebec Economic Development Program provides funding to Quebec-based businesses to support innovation, growth, and export.
- ESSOR, jointly administered by Investissement Québec and the Ministère de l’Économie, de la Science et de l’Innovation, provides loans and loan guarantees covering up to 50% of project costs. Manufacturers with innovative investment projects must have eligible expenditures over $100k to qualify.
- The Mesure de formation de la main-d’œuvre, volet Entreprises [Workforce training measure, Business stream] provides funding to Quebec-based employers to support skills training.
- Concertation pour l’emploi [Working together for jobs] helps Quebec-based businesses facing HR issues to find sustainable solutions.
- The Build in Canada Innovation Program connects Canadian SMEs with pre-commercial innovations with buyers within the federal government. This program is not currently accepting applications, but is in the process of scheduling its next call for proposals.
Learn more about securing government funding at ca.fundingportal.com