Digital media developers often struggle to grow their businesses internationally. This missed opportunity can significantly limit revenues and reduce future growth potential; however, government incentives exist to help remove international market barriers. Organizations such as the Ontario Creates (formerly OMDC) provide access to government funding to offset expenses to improve the viability of export market development projects for digital media businesses.
The Interactive Digital Media (IDM) Fund supports several avenues of funding, including the Global Market Development stream. Through the program, Ontario-based media developers will be awarded government grants to perform marketing activities – such as attending trade shows – in foreign countries.
Up to 50% of eligible project expenses to a maximum $15,000 in Ontario digital media funding may be accessed.
Interactive Digital Media Fund Grants for Global Market Development
Ontario Creates provides financial support to Ontario digital media developers through a variety of Ontario grants and tax incentives. The organization’s Interactive Digital Media Fund is split into several individual streams of support, including funding for Concept Definition, Production, Digital Media Marketing, and Global Market Development.
Digital media developers may access the Global Market Development stream to offset a portion of costs related to foreign market expansion activities. These projects can include participation at key international industry events, planned sales trips or media tours, and participation in government-organized trade missions outside of Canada.
The Interactive Digital Media Fund’s Global Market Development program provides up to 50% of eligible project expenses to a maximum $15,000 in export grants.
To discover if the program is a good fit for your organization’s upcoming projects, consider the most critical eligibility requirements:
Ontario Digital Media Company Eligibility
To qualify for government funding through the Interactive Digital Media Fund’s Global Market Development program, applicants must either have:
- A minimum 50% of company expenses in the last 2 fiscal years have come from the production of interactive digital media content; or
- A minimum 25% of company revenues in the last 2 fiscal years have come from the creation of complete screen-based content products.
Furthermore, eligible applicants are also required to:
- Be a for-profit private sector company;
- Have a permanent establishment in Ontario serving as head office;
- Be Canadian-owned;
- Be incorporated;
- Have at least $2 million general liability insurance during the project; and
- Have at least one employee or owner with minimum three years’ experience in interactive content, platforms, or devices.
Marketing Project Eligibility
In one application, companies may apply for up to five ‘marketing activities’ taking place outside of Canada. All projects should assist the business to execute a formal market development strategy.
Some of the marketing projects businesses may submit for export grants include:
- Attendance at key industry events (up to three reps);
- Participation in government-organized trade missions;
- Planned sales trips; and
- Media tours.
Apply for Ontario Creates’ Global Market Development Grants
To receive grants from the Interactive Digital Media Fund’s Global Market Development stream, businesses must complete an application detailing their use of the funds. There must be a clear link between marketing activities and benefits to the company, such as increased revenue or strategic partner development.
To discuss your upcoming project and receive support throughout the application process, please contact Mentor Works.
Posted: April 6, 2017 by Jeff Shepherd. Updated: September 7, 2018 by Jeff Shepherd.