FedDev Commercialization Initiative

Partnerships with SMEs & Universities/Colleges

To encourage post-secondary institutions in southern Ontario to increase partnerships with SMEs and undertake pre-commercialization and applied research development expertise projects, the Federal Economic Development Agency (FedDev Ontario) have provide up to $15 million in funding to accelerate the collaboration. The greater collaboration will enhance innovation, improve productivity and competitiveness to help individual SMEs move products, practices or processes to market.

Eligible activities may include:
- Proof of concept
- Demonstration and piloting
- Problem solving
- Certification
- Product testing
- Technology development
- Engineering design
- Product and process applied research

Research & Innovation Challenges faced by SME’s

FedDev will reimburse up to 100% contribution or up to a maximum of $50,000 per project of the college or Universities total eligible costs or the equivalent of two-thirds (66%) of the total project costs. SMEs will be expected to contribute a minimum of one-third (i.e. 33%) of the project costs in the form of in-kind contributions and/or cash to the post-secondary institution. All project activities must be completed by March 31, 2012.

The objectives of the FedDev initiative:

- Increase the awareness of how post-secondary institutions can assist small and medium enterprises (SMEs) in meeting their R&D and commercialization needs
- Benefit from working capital
- Present knowledgeable resources to allow production lines to be taken offline for experimentation of a process or product
- Extend capacity of internal research and development

Applications for the initiative must be submitted by the post-secondary institutions by June 14, 2010 and the funding will not exceed $750,000 per eligible institution.

If you are interested in identifying if your project may be eligible for approval by a southern Ontario post-secondary institution, please do not hesitate to contact Bernadeen at Mentor Works or your local Industry Liaison Advisor.

Tags: business development, collaboration with Universities, financing options, Government Funding, planning, technical development, technologies