COBOURG, Ontario--(BUSINESS WIRE)--NCFDC’s new thriveFORWARD initiative will help southern Ontario start-ups and SMEs to accelerate forward investments in innovation capital—in talent, technology and the industries of the future.
By competitive application, matching non-repayable funding of up to $25,000 is available for start-ups while SMEs are eligible for up to $100,000 reimbursing 50 percent of eligible and approved costs.
“We know across the chain of innovation in southern Ontario that there is significant pent-up demand for industrial partnerships like thriveFORWARD,” said Wendy Curtis, Executive Director of NCFDC. “There is an opportunity to provide strategic funding now and work with entrepreneurs to create new economic momentum across the region.”
thriveFORWARD is expected to support 145 ventures in going green and/or driving digital transformation (such as cybersecurity readiness, productivity enhancements and operational resilience) and focusing on critical sectors such as food production, medical supplies and bio-manufacturing.
Participating businesses will invest in activities such as future-proofing, building resiliency and preparing for long-term growth by transitioning to a green economy, fostering an inclusive recovery, enhancing competitiveness, and creating jobs.
“Southern Ontario is emerging as a global leader in clean technologies,” said Susan Carmichael, Chair of the Board of Directors of NCFDC. “Our organization recognizes the importance of going green, of digital transformation, sustainability and resilience, and the acceleration of innovation-driven enterprise. We are proud to be able to enhance industry-led innovation with this important initiative.”
To foster a more diverse and inclusive economy, NCFDC will align thriveFORWARD to the diversity, equity and inclusion targets set out by Women and Gender Equality Canada’s 50-30 Challenge and with competitive selection criteria informed by GBA+ analysis.
Applications for thriveFORWARD will be accepted starting on June 1, 2022, with an open continuous intake period until the program is fully subscribed, and no later than December 31, 2023. Interested applicants are encouraged to learn more and submit an application at ncfdc.ca/thriveforward. Additional terms and conditions apply.
NCFDC is an innovation ecosystem organization that provides financing, funding, strategy and acceleration services from its headquarters at Venture13 in Cobourg, Ontario. For more information, visit ncfdc.ca.