One of the popular topics of discussion revolving around the 2012 Federal Budget has been the revisions to the Allocation of Canadian Government Funding for Research and Development. The Department of Foreign Affairs and International Trade (DFAIT) is one of agencies that was subject to budget reductions. In turn, these cuts have reduced the amount of Canadian Government Funding for research and cross-border study programs in American Universities.
Ontario Government Funding for Canadian Post-Secondary Institutions
The Canadian Studies Grant was intended to foster relationships between American Academia and Canadian Industries to improve their collaborative research and international affairs. These programs were important with regards to their strong focus on international market trends and cross-border issues. However, the Canadian Government has decided to allocate a greater portion of their current budget towards R&D funding for Canadian Universities and small businesses through Canadian Collaborative Research and Development Funding Grants.
- Colleges Ontario Network for Industry Innovation – CONII: Grant Funding up to $25K for collaborative research projects involving the commercialization and adoption of new technologies. Funds are intended to improve the productivity and international competitiveness of Ontario SMEs while providing experience and funding to Canadian Colleges and Universities.
- NSERC Engage Grant: Non-repayable project funding up to $25K. Funding applies to Canadian SMEs that are experiencing technical problems with regards to the natural sciences or engineering aspects of their business. The research must be carried out by a Canadian University and its overall objective must have regard for social, economic, and environmental values.
- OCE Connections Program: Up to $3,500 in non-repayable business funding grants for the hiring of one or multiple students from a Canadian post-secondary institution. Internships are generally four months in length where the students will be assigned to carry out a R&D project that will help the business to improve and expand their product markets.
2012 Federal Budget Changes to Canadian Business Funding
Businesses that would like to stay up-to-date with the latest information regarding the changes to the 2012 Federal Budget for Small Business Funding Grants can sign-up for our Canadian Government Funding Newsletter or attend one of our Free Small Business Funding Workshops. For additional information regarding the Ontario Government grants mentioned in todays article, contact a Canadian Government Funding Expert or follow us on Twitter.