The Innovation Hub applies and is eligible for funding through local industries, businesses, provincial and federal government agencies. To learn more about how we are able to assist with obtaining funding opportunities for either Applied Research or working together to validate your business idea the following is examples of funding available:
CONNECT GRANTS (NSERC)
Eligible applicants are available in two levels.
- Level 1
- Up to $5,000 to be used within 3 months.
- Grant can be used for domestic travel costs to develop new industry partnerships.
- Level 2
- Up to $25,000 to be used within 12 months.
- Level 2 grant can be used for activities aimed at creating new industry partnerships and student-industry training opportunities.
ENGAGE GRANTS (NSERC)
These grants are intended to foster the development of new research partnerships by supporting short-term research and development projects aimed at addressing a company-specific problem.
Engage Grants support well-defined research projects undertaken by eligible university and college researchers and their industrial partners. Engage grants can be combined with a VIP 1 grant. The Engage grant details:
- A maximum grant of $25,000
- Up to 6 months
- Industry partner must participate throughout every step of process
- Industry partner must contribute in-kind services
- Limited to 2 engage Grants per year
APPLIED RESEARCH AND DEVELOPMENT (NSERC)
Applied Research and Development Grants is a collaboration between Canadian colleges and a business/industry partner. The object of this grant is provide companies access to knowledge and expertise available at a company and to provide hands-on training of technical skill to college students.
- Grants up to $75,000 per year eligible industry partners must:
- actively participate
- Minimum 2 years in operation
- Minimum 2 full-time employees
- Contribute half the amount of grant of which:
- 25% must be in cash
- 25% in-kind services
- Grants between $75,000 and $150,000 per year eligible industry partners must:
- Actively participate
- Contribute amount equal to amount of grant, of which:
- 40% must be in cash
- 60% in-kind services
VOUCHER FOR INNOVATION AND PRODUCTIVITY (OCE)
The VIP program helps eligible Ontario companies develop, implement and commercialize technical innovations by supporting partnerships between Ontario’s industry and publicly funded post-secondary institutions. VIP projects are intended to generate economic benefit for companies in Ontario (including job creation/retention, new revenue generation, investment attraction, cost savings, value chain development), in the short-to-medium term (e.g. within three years of project completion).
- OCE Funding: Between $20,000 and $150,000 to the post-secondary institution
- Research Partner: Principal investigator or applied research officer
- Industry Partner: For-profit, incorporate in Ontario for minimum two years
- Project: Utilizes unique skills/resources of post-secondary institution to meet industry innovation and commercialization needs
- Project duration: Six months to 24 months
Northern College has met the eligibility requirements of the following agencies: