On February 27th, 2019 the Honourable Navdeep Bains, Canada’s Minister of Innovation, Science and Economic Development (ISED) and Minister responsible for FedDev Ontario, announced Eastern Ontario CFDCs would receive funding to support projects that drive innovation and growth in rural Eastern Ontario.
The Rural Innovation Initiative Eastern Ontario (RIIEO) Local Stream provides non-repayable performance-based funding from $25,000 up to $100,000. Its purpose is to support and transition SMEs in local CFDC communities in expanding business growth and the adoption of new advanced business innovation processes.
Please contact your local CFDC office or click here for a complete listing of CFDC offices throughout Eastern Ontario.
RIIEO also provides a Regional Stream, administered by the Northumberland CFDC. It provides non-repayable performance-based funding of a minimum of $100,000 to accelerate the growth of SMEs who are scaling on the innovation track and provide benefits to multiple communities within Eastern Ontario. For more information or to apply, please visit the Northumberland CFDC website.
This initiative is made possible with funding from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) to support the transition and growth of traditional SMEs, manufacturers and communities into the new rural economy, driving direct investments by private companies in innovation capital producing aggregate local and regional effects.
The priority sectors for funding are: advanced manufacturing, digital industries, clean tech, agri-food, and food processing. Another focus is projects that focus on inclusiveness: youth, women entrepreneurs, Indigenous peoples, Official Language Minority Communities, persons with disabilities, immigrants and visible minorities
Businesses and Not-For-Profit organizations supporting business and community transition into the new rural economy.
Supported projects will strengthen competitiveness, productivity, business growth, process innovation, new market access, creation and retention of employment opportunities, the re-skilling of the industrial workforce, incremental sales and increased profitability, and as a result, diversify and transform our local communities and economy.