A number of government programs and financial incentives are available to eligible companies to help offset hiring, job training, export, research and development costs. Some of the key programs are described below and other Financial Incentives can be found in the Resources section.
The Health Technology and Commercialization Program (HTCP)
- Funds development projects by Ontario companies that leverage existing and emerging Medical and Assistive Technology (MAT) partnerships. Funding applications should focus on the commercial advancement of an innovative product developed with a project partner such as multinational/ local companies, and academic and healthcare institutional organizations.
Export Market Access - A Global Expansion Program
Assists small to medium sized organizations (SMEs) with accessing and expanding their growth in foreign markets. If your company has five or more employees, and annual sales of $500,000 or more, you may qualify for up to 50% of eligible costs incurred to develop export sales. Eligible activities include market research, marketing tools, direct contacts, and foreign bidding projects.
Investment Accelerator Fund- Invests up to $1,000,000 in life sciences companies that have both the potential to be global leaders, and provide sustainable economic benefits to Ontario.
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Human Resources and Training
Connect Canada Internship Program - Links graduate students and Canadian companies for research placements. Internships are funded by $5,000 from the partnership company and will be matched by Connect Canada.
Colleges Ontario Network for Industry Innovation (CONII) - Financial support provided to Ontario colleges working with business and industry to enable them to provide quicker access to the expertise of Ontario's top researchers and the most state-of-the-art equipment and research tools available.
First Job Industrial Internship Program - An initiative to help Ontario companies hire knowledgeable, highly-skilled graduates from Ontario colleges and universities, in the fields of science, technology and entrepreneurship. Employment opportunities are in research and development, with the goal of developing new products, services and processes and giving host companies the chance to expand their capabilities. Established companies could receive support for up to 50 percent of the recruit's salary, to a maximum of $40,000. Start-up companies are eligible for support for up to 80 percent of the recruit's salary, to a maximum of $50,000. Host companies provide the remaining salary and benefits. Primary consideration will be given to technically-progressive, small/medium-sized companies.
MITACS Accelerate - A national internship program which connects companies with research expertise in Canada's universities from applied sciences, engineering, social sciences and business to arts, life sciences, and more. For each four-month internship unit, MITACS matches your organization's contribution of $7,500, through the support of federal and provincial funding partners. Per four month unit, the intern receives a minimum stipend of $10,000, with the remaining $5,000 supporting other costs associated with the research.
Scientists and Engineers in Business Initiative - Improves the success rate of start-up enterprises by developing the business and management skills of promising entrepreneurs in science, technology, engineering and mathematics (STEM), and supporting them as they launch their businesses. Not-for-profit corporations are eligible for a non-repayable contribution of up to $35,000 per STEM entrepreneur engaged in the project. A maximum of $15,000 of that amount can be allocated to business skills development. A maximum of $20,000, either in the form of professional services or direct financing, can be allocated to support the STEM entrepreneur to commercialize the innovation, complete a business plan, and/or launch the business. FedDev Ontario will reimburse up to 50% of the not-for-profit organization's direct eligible costs. The remaining 50 % of costs will be contributed in cash by the STEM entrepreneur.
Canada Foundation for Innovation (CFI) - Normally funds up to 40 percent of a project's infrastructure costs which are invested in partnership with eligible institutions. Funding partners from the public, private, and voluntary sectors provide the remainder.
Going Global Innovation - Supports Canadian small and medium sized companies and researchers in pursuing international R&D collaborative opportunities through the development of partnerships with key players in other countries/economies. Going Global contributes up to 75% of the eligible expenses to a maximum of $75,000.
International Strategic Opportunities Program - Provides funding for strategic international collaborations between Ontario research institutions and the global research community. Total funding per research initiative does not exceed $150,000 over three years. The program will generally fund up to 50% of the eligible costs on a one-time basis, with the balance coming from non-Ontario government sources.
Ontario Research Fund (ORF) - Supports research that can be developed into innovative goods and services that will boost Ontario's economy. Through a commitment of $730 million over four years, the ORF is designed to provide Ontario's research community with research funding.
Ontario Innovation Tax Credit (OITC) - A refundable tax credit that is available to all Ontario corporations that perform scientific research and experimental development (SR&ED). The OITC is calculated as 10% of qualifying SR&ED expenses. Qualifying expenses are 100% of current expenses and 40% of capital expenses, with a maximum annual credit of $300,000.
Ontario Research and Development Tax Credit (ORDTC) - A non-refundable tax credit available to corporations focused on scientific research & experimental development (SR&ED) work in Ontario. The ORDTC provides a 4.5% tax credit based on eligible SR&ED expenses occurring in Ontario.
Scientific Research & Experimental Development (SR&ED) - A federal tax incentive program to encourage Canadian businesses to conduct research and development (R&D) in Canada that will lead to new, improved, or technologically advanced products or processes. Claimants can apply for expenditures such as wages, materials, machinery, equipment, some overhead, and SR&ED contracts. A Canadian-controlled private corporation (CCPC) can earn an investment tax credit (ITC) of 35%, up to the first $3 million of qualified expenditures for SR&ED in Canada, and 20% on any excess amount. Other Canadian corporations, proprietorships, partnerships, and trusts can earn an ITC of 20% of qualified expenditures for SR&ED carried out in Canada.