O-AMP Opens March 27: Up To $150K in Automotive Funding
The Ontario government’s focus on the automotive industry has never been sharper. With innovation and environmental consciousness driving change, businesses in this sector are eager for transformation. As we approach the opening of the O-AMP intake period on March 27th, the urgency for automotive businesses to adapt and thrive is apparent.
Looking at the broader national perspective, it’s evident that governments across Canada are actively strategizing to promote a cleaner and more sustainable future within the automotive sector. Ontario, aspiring to become a leader in the electric vehicle and clean tech automotive era, is unwavering in its dedication to assisting businesses during this transformative journey. For many, the costs associated with this evolution may seem daunting, but with the imminent launch of the Ontario Automotive Modernization Program (O-AMP), relief is on the horizon.
Designed to aid small- to medium-sized businesses (SMEs) within the automotive supply chain, O-AMP offers a lifeline for modernization efforts. This blog describes the crucial details: eligibility criteria, project requirements, deadlines, and funding amounts available. As the countdown to the intake period begins, now is the time for automotive businesses to seize this opportunity for growth and sustainability.
Funding Snapshot: Ontario Automotive Modernization Program (O-AMP)
Ontario Automotive Modernization Program (O-AMP) is designed to assist Ontario automotive parts manufacturers improve their operational efficiency and competitiveness by investing in new software technologies and lean methodologies.
Funding Amount
Eligible applicants can receive up to $150K to cover up to 50% of eligible project costs.
Eligible Applicants
Eligible applicants for this program must:
- Be a small- to medium-sized manufacturer within Ontario in the automotive supply chain to Original Equipment Manufacturers (OEMs) (distributors are ineligible);
- Have less than 500 full-time payroll employees;
- Have less than $1 billion in annual revenue (large companies are eligible but must partner with an SME automotive supplier);
- Have at least 50% of sales derived from the automotive sector; and
- Have a minimum of two years of financial statements.
Past recipients of O-AMP funding must complete their previous project before submitting a new application.
Eligible Projects
Eligible projects must fall within one of the following two categories:
- Technology Adoption: The implementation of new software and related hardware (e.g., ERP systems, virtual machining software) to improve operational efficiency, productivity, and production sophistication; or
- Lean Manufacturing: The adoption of Industry 4.0 or lean manufacturing processes by implementing lean principles or hiring a third-party certified consultant to help with lean implementation.
Program Deadline
O-AMP is opening its intake period March 27, 2024, and closing on May 2, 2024.
Automotive Funding & Grant Writing Services
As we delve into the Ontario Automotive Modernization Program (O-AMP) and its pivotal role in guiding automotive businesses towards sustainable upgrades, it is crucial to recognize the competitive landscape this program presents.
O-AMP is a popular program within the automotive industry, and we encourage applicants to get in touch with us as soon as possible to prepare for the upcoming deadlines. This competitive program requires swift and strategic action; timing and planning are imperative to the application’s success.
With our historic 86% approval rate and an average of 95% time savings, we can help your business achieve its maximum funding potential.
For a comprehensive view of other automotive grant opportunities, we invite you to browse through our automotive funding directory. You can also stay ahead in the landscape of automotive funding by joining our newsletter.
