Jul 5, 2021
Million Dollar Idea: 5 R&D grants worth millions
Do you have the next million-dollar idea? Check out these 5 research and development grants that will award you more than $1 million in funding!
It is frustrating to be a small business in need of funding, particularly when you are looking to secure a large financial sum. This can leave you navigating difficult processes, like grant stacking. While this process does work for a lot of businesses, it’s relieving to know that these funding needs can be met with one grant.
Especially when it comes to research and development — that can be expensive! This is why most R&D grants offer more money than other grant types. It’s expensive to complete R&D projects!
So, do you think you have a million-dollar idea? Put it to the test and apply to one of the following R&D grants that will award you more than $1 million!
1. Innovation for Defence Excellence and Security: Green Heat
Award Amount: up to $5 million
The Department of National Defence and the Canadian Armed Forces are seeking a low carbon energy generation system for heating buildings by integrating with their current hydronic heat distribution systems.
A test building has been identified in Ontario for a team to design and implement the system.
The funding range for the project is around $5 million, and it will start accepting proposals this summer!
2. Southern Ontario — Community Economic Development and Diversification
Award Amount: up to $5 million
The Community Economic Development and Diversification funding stream is aimed at businesses and non-profits based out of southern Ontario that will invest in the development and commercialization of innovative technologies.
Eligible projects must address a gap or circumstance that requires intervention to maintain or support economic development or diversification.
Projects are normally eligible to receive up to 50% of project costs, except in exceptional circumstances where non-profits may be eligible for up to 100%. Funding is likely to go to investments costing between $250,000 and $5 million.
3. Ontario — Forestry Growth Fund
Award Amount: up to $3 million
The Forest Sector Investment and Innovation Program seeks to provide funding for investments in the forestry sector that will improve productivity and innovation; enhance competitiveness; support new market access; provide benefits to Ontario’s forest sector; and strengthen regional economies.
There are two categories of projects — business projects and collaboration projects (minimum of 3 partners.)
For business projects, up to 30% of eligible costs may be covered in the form of a performance-based loan, with grants covering 15% being considered in exceptional circumstances. For collaboration projects, up to 30% of eligible costs to a maximum of $3 million may be received in the form of a grant.
Applications for round 8, the final round, are due by September 17, 2021!
4. CMF — Commercial Projects Program
Award Amount: up to $1.5 million
The Commercial Projects Program from Canada Media Fund funds projects with a high probability of commercial success. Project proposals will be chosen based on their potential to attain commercial objectives, demonstrate business opportunities, and achieve profitability.
Eligible applicants must be for-profit, Canadian-run with a head office in Canada, and in good standing with all applicable talent and industry associations.
The maximum amount of funding for any one project is $1.5 million or 75% of the project’s eligible costs.
The closing application date is Sept. 9, 2021!
5. CMF — Innovation and Experimentation Program
Award Amount: up to $1.5 million
The Innovation and Experimentation Program from Canada Media Fund is for Canadian interactive digital media content and software applications.
Eligible applicants must be for-profit, Canadian-run with a head office in Canada, and in good standing with all applicable talent and industry associations.
Similar to the last grant, the maximum amount of funding for any one project is $1.5 million or 75% of the project’s eligible costs.
The closing date for this application is Sept. 14, 2021!
In case you didn’t notice, we just listed $16 million in grant funding — and that’s only 5 grants!
So, what do you say? Do you have the next million-dollar idea? Then get going! Create your free Pocketed account today!
