Southern Ontario Fund for Investment in Innovation (SOFII)

Overview of the Southern Ontario Fund for Investment in Innovation (SOFII) program:

The SOFII loan fund acts as a catalyst for increased investment in and support for innovation and is one element in the ongoing climate of government assistance to high-growth companies in Southern Ontario. Launched by the Government of Canada in July 2012, SOFII is supported through the Federal Economic Development Agency for Southern Ontario and is delivered in southeastern Ontario by Community Futures Eastern Ontario. In southeastern Ontario, SOFII is a $30 million fund, available to eligible organizations in both rural and urban centers.

Benefits of the Southern Ontario Fund for Investment in Innovation (SOFII) program:

• Financing For:
• Late stage commercialization
• New product or service development
• New applications or markets
• Development or implementation of new
• Processes or technologies

Eligibility criteria of the Southern Ontario Fund for Investment in Innovation (SOFII) program:

• Eligible applicants are private sector innovative SMEs located in South Eastern Ontario who are engaged in projects that will result in the adaptation and adoption of new technologies, projects, processes or markets. Eligible organizations will:
• Employ 50 to 500 employees, or identify that there is a strong likelihood that they will reach 50 employees within a three-year period.
• Be unable to obtain adequate and reasonable financing from other lending sources
• Operate in Southern Ontario
• Demonstrate job creation/retention for Southern Ontario residents
• Be suitable for public funding
• Establish a reasonable expectation of economic viability
• Demonstrate the ability to repay funds advanced by Community Futures Eastern Ontario
• Have secured the required matching funding through private investment, financial or equity partnerships or working capital.
• Provide evidence of their ability or experience to operate the business
• Generating revenue