The Sector

Funding for Regional Innovation Ecosystems — for not-for-profit organizations (Northern Ontario)

Funding under this program stream helps create, grow and develop strong and inclusive regional networks that support business growth and innovation. This will foster the entrepreneurial environment necessary for more innovative regional economies and increase the competitiveness of small and medium-sized enterprises (SME). In part, this stream will seek to further enhance business support networks for under-represented groups—including women, Indigenous peoples and young entrepreneurs—promoting their entrepreneurial talent.

We can help with your strategy & submission: info@thesectorinc.ca

Scope & Objectives

The Regional innovation ecosystems (RIE) Stream aims to create, grow and develop strong and inclusive regional ecosystems that support business growth and innovation, as well as the entrepreneurial environment necessary to foster more innovative regional economies and increase the competitiveness of small- and medium-sized enterprises (SMEs).

Through this program, FedNor seeks to:

  • Grow and sustain strategic clusters and consortia to leverage regional strengths and support businesses to scale up and commercialize innovative products, technologies and services.
  • Enhance the development and reach of business accelerators and incubators, and other organizations, which support entrepreneurs, start-ups and innovative companies with high-growth potential.
  • Support projects led by innovation-oriented organizations to increase and promote business productivity and global competiveness, and investment and talent attraction.

FedNor will make targeted investments in not-for-profit organizations that provide support to businesses at each stage of development in areas where Northern Ontario has the potential to have a leadership position and opportunities for growth. Investments made through FedNor’s Regional innovation ecosystems Stream will further enhance the capacity of ecosystems to support underrepresented groups, including women, Indigenous peoples and young

entrepreneurs, promoting their entrepreneurial talent.

Expected Results

Projects supported through FedNor’s programs work towards achieving one or more of the following departmental results:

  • Businesses in Northern Ontario invest in the development and commercialization of innovative technologies, products, services and processes.
  • Businesses in Northern Ontario are innovative and growing.
  • Communities in Northern Ontario are economically diversified.

We can help with your strategy & submission: info@thesectorinc.ca

#socialinnovation #funding #ontario #impactinvesting # charity #consulting # strategy #mba #wbs #sdgs #bradfordtunrer #thesector #toronto #fundraising # socialenterprise

The Sector

Funding for your Northern Ontario non-profit

FedNor Regional Relief and Recovery Fund (RRRF) – Regional economy stream (Not-for-profit) – we can support your strategy & submission.

If your organization isn’t eligible for current COVID-19 government support programs, you could get non-repayable financial support from your local Regional Development Agency.

Money

  • Maximum: $500,000
  • Non-repayable

Funding limits

  • Maximum duration: 12 months
  • This program will cover a maximum of 100% of eligible costs

You

  • Are a non-profit in Northern Ontario
  • Carry out commercial activities that are positioned to support SMEs regarding COVID-19

Scope & Objectives

The Regional Relief and Recovery Fund (RRRF) will support vulnerable businesses and eligible not-for-profit organizations that are impacted by the economic disruption associated with the COVID-19 pandemic across the regions of Canada. Applicants are eligible to receive up to 100 percent of total eligible bridge support costs, covering up to a twelve (12) month period.

The RRRF will provide unconditionally repayable and conditionally repayable contributions to eligible small and medium-sized enterprises, of normally up to a maximum of $500,000 for a period of up to twelve months (12). Support to eligible not-for-profit organizations and First Nation band-owned businesses whose articles of incorporation do not permit dividends to be paid or distributed to shareholders will be non-repayable.

It is highly recommended that you read this Applicant Guide before submitting an application form. Please pay particular attention to the eligibility criteria to determine if you can apply. Applicants are encouraged to address all submission requirements and ensure that the application submitted contains sufficient detail to enable a thorough review and assessment. Submitting an incomplete application may result in the delay of assessment and/or rejection of an application.

Funding decisions will take into account the minimum amount required to carry out the project, proof that applicants were profitable prior to the COVID-19 outbreak and the severity of impacts.

How it works

  1. Read the program website to see if you are eligible and for how much.
  2. Download and complete the Application for Funding. You’ll need to include some supporting documents, like financial statements for the last two years, interim financial statements, and incorporation documents. Make sure you’ve signed the Certification section at the end.
  3. Submit the form online and save a copy of the confirmation message and Project Reference Number.
  4. If successful, you’ll be asked to enter a Contribution Agreement and complete a few additional forms.
  5. You will receive advance payments based on your cost forecast.
  6. Be prepared to submit a final report.

#funding #nonprofit #ontario #wbs #socialinnovation #impactinvesting #sdgs #ESG #CSR #thesectorinc #bradfordturner #toronto #canada #fundraising #grants