Ontario Government Grants: Investing in Business Innovation – Angel Networks

The Investing in Business Innovation (IBI) Ontario government grants program for Angel Networks offers entrepreneurial support and financing to help new Ontario businesses to grow and succeed.  IBI government grants and loans Ontario are funded through The Federal Economic Development Agency for Southern Ontario (FedDev Ontario).

Government Grants Ontario for Angel Networks: Details

Funding Amount: Grant to a maximum of $500,000 for up to 100% of project costs.

Program Priorities:  Preference may be given to certain priority sectors or projects that diversify a regional economy.

Timeline: Open Now, Continuous Intake; Funding becomes available April 1st, 2014.

Investing in Business Innovation for Angel Networks: Eligible Organizations

Incorporated not-for-profit network organizations representing angel investors in southern Ontario and located in southern Ontario are eligible for funding through this IBI government grants Ontario program.

IBI Ontario Government Grants: Eligible Projects

Investing in Business Innovation will consider projects that attract more investment and increase the efficiency and effectiveness of investment in innovative, high-growth potential start-up businesses.

Investing in Business Innovation for Angel Networks -Project Examples:

• Outreach;
• Building capacity;
• Providing mentorship;
• Education and resource development; and
• Coordination and convening.

Note: Innovations that are targeted primarily at retail consumer markets will not be considered under this initiative

Investing in Business Innovation: Eligible & Ineligible Costs

Costs for labour, expertise, and other non-capital costs will be eligible for coverage through this government grants Ontario program.

The following costs are ineligible for funding through IBI:

• Any costs determined not reasonable and/or not directly related to the eligible project activities;
• Costs incurred prior to the eligibility date as defined in the FedDev Ontario Contribution Agreement;
• Any cost incurred after December 31, 2018;
• Any cost that is ineligible under the Agency’s terms and conditions and program policies;
• Capital costs.

Learn More about FedDev Government Grants and Loans for Large Projects

Mentor Works offers free informational webinars for established small to mid-sized businesses interested in learning more about government funding for large projects funded by FedDev.  Learn more about Mentor Works’ FedDev Webinars and register today.