To tackle housing pressures nationwide, the Canadian government introduced Solving the Housing Crisis: Canada’s Housing Plan earlier this year with goals of addressing housing shortages across the country.
To support this initiative, Budget 2024 allocated $50 million over two years to Canada’s regional development agencies (RDAs), including FedDev Ontario, to promote innovative homebuilding methods and increase productivity.
FedDev Ontario is administering a new Regional Homebuilding Innovation Initiative (RHII) funding program with the goal of advancing innovative homebuilding solutions and boosting productivity within the homebuilding sector in Canada.
Through the RHII funding program, FedDev Ontario is prioritizing business projects that support innovative homebuilding solutions and demonstrate a clear change in the way homes are built in Canada.
About the FedDev Ontario Regional Homebuilding Innovation Initiative (RHII) Funding Program
Funding:
Fully repayable, interest-free loan up to $5 million for support of up to 50% of eligible project costs.
- Projects are normally within the range of $500K to $2M
Eligible Applicants:
- Incorporated SMEs, Indigenous-owned businesses,
- Not-for-profit organizations;
- With at least 5 FTEs; and
- At least 3 years of business operations, as demonstrated by your financial statements that are externally prepared (audit or review engagement preferred).
Project Requirement: A formal commitment letter is required from at least one southern Ontario-based end-user/buyer of the homebuilding solution, product or service developed because of your project.
Eligible Projects:
- Investing in advanced manufacturing technologies that improve productivity in housing construction (e.g., 3D printing, modular building, and mass timber construction);
- Adopting and scaling innovative construction methods, such as prefabrication and net-zero housing practices, that accelerate housing development;
- Investing in automation and sustainable materials that enhance construction efficiency and support climate resilience;
- Demonstrating and commercializing new technologies and materials for residential construction to improve supply chain capacity; or
- Developing and updating industry tools and technologies that drive efficiency in construction (e.g., prefabricated components, off-site construction practices).
Timeline:
- Application deadline: December 20th, 2024; and
- Projects should be between 1-2 years in length.
Alternative FedDev Ontario Funding Support
FedDev Ontario offers several funding programs which aim to accelerate business growth and competitiveness, especially in technology and productivity. Program streams support growth and innovation across southern Ontario, they include the FedDev Ontario Regional Artificial Intelligence Initiative (RAII) which offers funding for artificial intelligence (AI) projects that can optimize their business’ products, technologies, systems, and processes.
Canadian government funding is crucial for fostering innovation, supporting economic growth, and addressing regional needs across the country. Programs like FedDev Ontario’s funding streams empower businesses and community organizations to scale operations, improve productivity, and create lasting economic benefits.
However, securing this funding requires a well-crafted application that clearly demonstrates a project’s value and alignment with funding goals. A strong application should present clear objectives, detailed plans, and measurable outcomes, showing how the project supports community growth and aligns with federal priorities, which increases the chances of approval. Contact us to optimize your funding applications.