INVEST North Program - Innovation Stream
The Innovation Stream supports the research, development, and commercialization of new and innovative technologies in Northern Ontario.
- NOHFC
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
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