INVEST North Program - Innovation Stream

Overview of the INVEST North Program - Innovation Stream program:

NOHFC considers innovative technology projects based on the following definition: “the development or implementation of ideas to produce new or improved strategies, capabilities, products, services, or processes with a strong focus on ensuring to satisfy a market need or desire”. The program offers funding up to $500,000 for applied Research & Development and Demonstration & Commercialization Combined or Demonstration & Commercialization and many other projects.

Benefits of the INVEST North Program - Innovation Stream program:

• Funding for Applied Research and Development projects
• Conditional contribution of up to 50% of total eligible costs (max. $500,000).
• Funding for Applied Research & Development and Demonstration & Commercialization
• Combined or Demonstration & Commercialization projects
• Conditional contribution of up to 50% of total eligible costs (max. $2 million).

Eligibility criteria of the INVEST North Program - Innovation Stream program:

• Who is eligible:
• Private-sector businesses alone, or in partnership with a public-sector academic or research institution.
• Evaluation Criteria:
• Innovation meets the NOHFCs definition of Innovation
• Strength of the projects detailed business plan
• Net economic benefits for Northern Ontario
• Demonstrated market need and demand
• Management capacity
• Business financial position
• Supply chain impacts
• Level of Risk