GPI Guide to Financing and Funding Programs for your Enterprise

A Good Place to StartThis guide is not a complete listing of fi nance and funding sources, but it is a good place to start. GPI can assist in researching and connecting your enterprise to the right program. There is probably a program to help your research, development, commercialization or market entry plan. Go For It!

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Contacting GPI – We are Open for Business

Mailing Address Guelph Partnership for Innovation130 Research Lane, Suite 3 Guelph, ON N1G 5G3 tel: 519-824-7120 fax: 888-824-8919 admin@guelphinnovation.com guelphinnovation.com

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Who We AreWe connect people, money and technology to help grow companies and the Guelph technology cluster.

As the organization that represents the interests of all stakeholders in Guelph’s technology cluster, GPI delivers services directly or connects you to an organization that can help grow your business or initiative.

How We Are SupportedOur current support comes from the business community, the University of Guelph, the City of Guelph and others, plus 1:1 matching dollars from the Ontario Ministry of Research and Innovation. Local support comes as cash or in-kind donation of goods and services.

What We DoIn order to connect people, money and technology, GPI operates a number of programs and events.

BioEntrepreneur Course The program offers a range of topics for those

considering launching a new business or growing an existing one.

BioAdvisor Service Free, confidential advice to local

entrepreneurs and start-ups on next steps, and connections to resources.

GPI Connect Directory Find products, services and make connections

using GPI’s Online and Print directories.

BioBusiness Connect Peer-to-peer, monthly roundtable sessions

focused on agrifood, environment and life science for professional development and networking

GPI Breakfast Series Bimonthly, five times per year, speakers to

Inform, Connect & Inspire

BioGolf Tournament Held during National Biotechnology week in

September for networking.

Guelph Partnership

for Innovation

Business City of Guelph

University of Guelph Canadian Government

Ontario Ministry of Research and

Innovation

We make determined efforts to ensure the information is accurate but are not responsible for content or errors.

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RESEARCH/START UP DEVELOPMENT

Discovery

The Rough Guide to Sources of Funding for New and Growing Technology Companies

NSERC

CFI

DFAIT Going Global Innovati on

MITACS

FEDERAL

Ontario Research Fund

Ontario Centres of Excellence

PROVINCIAL

PRIVATE

SR&ED Tax Credits

Agricultural Flexibility Fund

SDTC Tech Fund (Cleantech)

DIAP - Growing Forward

NRC - IRAP

Green Municipal Fund (Cleantech)

NRCan Energy Funds

CAAP - Growing Forward

Ontario Research Commercializati on Fund

Innovati on Demonstrati on Fund

Investment Accelerator Fund

GTAN - Angel Investors

Other Resources: MaRS Ontario Bio-Auto Council Ontario Ministry of Agriculture, Food and Rural Aff airs Ontario Ministry of Economic Development Industry Canada Nati onal Angel Capital Organizati on Networks of Centres of Excellence

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MARKET ENTRY MARKET EXPANSION

Commercializati on

The Rough Guide to Sources of Funding for New and Growing Technology Companies

Agricultural Flexibility Fund

Community Futures Development Corporati on

DIAP - Growing Forward

Agri-Opportuniti es Program

Business Development Bank of Canada

AgriProcessing Initi ati ve

NRCan Energy Funds HRSDC

Canadian Small Business Financing Program

Ontario Venture Capital Fund

Ontario Tax Exempti on for Commercializati on

Investment Accelerator Fund Ontario Emerging Technologies Fund

Venture Capital

GTAN - Angel Investors

Financial Insti tuti ons

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Funding Programs

Agricultural Flexibility Fund www.agr.gc.ca

AgriFlexibility is a five year (2009-2014) $500 million fund. Its objective is to facilitate the implementation of new initiatives, both federally and in partnership with provinces, territories and industry that will improve the sector’s competitiveness and will help the sector adapt to pressures through non-business risk-management measures that will reduce costs of production, improve environmental sustainability, promote innovation and respond to market challenges.

Agri-Opportunities Program www.agr.gc.ca

The program aims to accelerate the commercialization of new agricultural products, processes or services that are currently not produced or commercially available in Canada, and are ready to be introduced to the marketplace. Agri-Opportunities is delivered nationally by Agriculture and Agri-Food Canada.

AgriProcessing Initiative (API) – Ministry of Agriculture, Food and Rural Affairs www.omafra.gov.on.ca

The AgriProcessing Initiative part of the federal Agricultural Flexibility Fund, is a five year, $50 million initiative designed to enhance the competitiveness of the agri-processing sector in Canada. Qualifications include projects that involve the adoption of new technologies and processes essential to sustaining and improving the sector’s position in today’s global marketplace.

Business Development Bank of Canada www.bdc.ca

Business Development Bank of Canada (BDC) provides financing and consulting services for small and medium-sized business, with long-term, project-based and venture capital financing.

CAAP - Growing Forward Canadian Agricultural Adaptation Program (Agriculture & Agri-Food Canada)www.agr.gc.ca

CAAP will help farm families to respond and adapt to challenges in their operations. Projects funded under CAAP will be proposal-based and originate from industry. The program encourages the agricultural industry to work in partnerships across the value chain - farmers, processors, distributors, and retailers - to develop and use innovative solutions and to explore new market opportunities. Projects will address a range of challenges and opportunities including in the areas of traceability, environment, pests and diseases. Administered by the Agricultural Adaptation Council www.adaptcouncil.org

Canadian Small Business Financing Program – Industry Canada www.ic.gc.ca/csbfa

The Canadian Small Business Financing Program increases the availability of loans for establishing, expanding, modernizing and improving small businesses. It does this by encouraging financial institutions to make their financing available to small businesses. Under the Program, a small business must apply for a loan at a financial institution of its choice.

CFI - Canada Foundation for Innovation www.innovation.ca

The Canada Foundation for Innovation (CFI) is an independent corporation created by the Government of Canada to fund research infrastructure. The CFI’s mandate is to strengthen the capacity of Canadian universities, colleges, research hospitals, and non-profit research institutions to carry out world-class research and technology development.

Community Futures Development Corporation www.ontcfdc.com

CFDCs are community-based, not-for-profit organizations that are each run by a board of local volunteers. They are staffed by professionals who encourage entrepreneurship and the pursuit of economic opportunities. Through Government of Canada funding, CFDCs administer local investment funds to help finance new or existing small businesses and social enterprises for start-up, expansion or stabilization plans that help maintain or create jobs.

DIAP – Growing Forward Developing Innovative Agri-Products (Agriculture & Agri-Food) www.agr.gc.ca/growingforward

DIAP is designed to provide Canadian agri-entrepreneurs, firms and organizations who may have limited scientific, technical and marketing intelligence resources, greater access to government, university and other resources required to support successful transformation of their innovative ideas into viable business ventures.

DFAIT – Going Global Innovation - Foreign Affairs and International Trade Canada www.tradecommissioner.gc.ca/eng/science/funding_opportunities.jsp

Going Global Innovation is the innovation, science and technology pillar of the Global Commerce Support Program (GCSP). The GCSP provides a client focused consolidated approach for accessing funding sources from DFAIT in order to attract foreign direct investment, increase Canadian innovation and commercialization opportunities and to increase Canada’s business share in foreign markets.

The objective of Going Global is to promote and enhance Canada’s international innovation efforts by supporting researchers in

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pursuing international R&D collaborative opportunities through the development of partnerships with key players in other countries/economies. Going Global assists at the research/startup and development stage.

Green Municipal Fund – Federation of Canadian Municipalities www.sustainablecommunities.fcm.ca/GMF

The Green Municipal Fund (GMF) offers municipal governments and their partners loans and grants for feasibility studies and projects to stimulate investment in innovative environmental infrastructure projects.

GTAN - Golden Triangle Angelnet – Angel Investors www.goldentriangleangelnet.ca

The Angel network was launched in an effort to increase the success of young regional companies by providing a local forum for the presentation of high-potential investment opportunities to a network of investment angels from the Golden Triangle region. Angel Investors are individuals who invest their own money in start-up companies, often providing business expertise. Angel investors typically invest at an earlier stage of growth and provide more business guidance than venture capital providers.

HRSDC – Human Resources and Skills Development Canada www.hrsdc.gc.ca

Human Resources and Skills Development Canada (HRSDC) is a department of the Government of Canada. HRSDC’s mission is to build a stronger and more competitive Canada, to support Canadians in making choices that help them live productive and rewarding lives, and to improve Canadians’ quality of life.

Innovation Demonstration Fund (IDF) – Ministry of Research & Innovation www.mri.gov.on.ca/english/programs/idf/guidelines.asp

The Innovation Demonstration Fund is a funding program administered by the Ministry of Research and Innovation that focuses on the commercialization and initial technical demonstration of globally competitive, innovative Green technologies, processes and/or products. The IDF is focused on environmental, alternative energy, bio-products, hydrogen and other globally significant technologies at the pilot stage of development. It is expected that companies are able to demonstrate that their concept has been proven and validated and are addressing the scale-up issues necessary on the route to full-scale commercial activities.

Investment Accelerator Fund (IAF) – Ontario Centres of Excellence www.oce-ontario.org/Pages/CInvest.aspx

Managed by Ontario Centres of Excellence (OCE), the IAF is a seed fund that assists emerging Ontario technology companies to bring their products and services to market. The fund provides a comprehensive platform of resources, people, connections and funding that entrepreneurs and innovators can access to help launch their new ventures. The IAF invests in early stage, high-potential companies that have no significant revenue or investment. The IAF is a component of Ontario’s Market Readiness Program, which is jointly delivered by OCE and MaRS.

MITACS www.mitacs.ca

MITACS funds mathematical sciences research projects throughout the country, focusing on five key economic sectors: biomedical and health; environment & natural resources; information processing; risk & finance; and communication, networks & security. MITACS leads Canada’s effort in the generation, application and commercialization of new mathematical tools and methodologies within a world-class research program. MITACS is driving the recruiting, training, and placement of a new generation of highly mathematically skilled personnel that is vital to Canada’s future social and economic well being.

NRCan Energy Funds - Natural Resources Canada www.nrcan-rncan.gc.ca

NRCan has a number of programs that provide assistance for applied research and development. These include the Buildings Energy Technology Program, the Canadian Transportations Fuel Cell Alliance, the Community Energy Systems Program, the Renewable Energy Technologies Program and the Hydrogen, Fuel Cells and Transportation Energy Program.

NRC-IRAP - National Research Council – Industrial Research Assistance Program www.nrc-cnrc.gc.ca

The National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) is a federal program that supports small and medium-sized enterprises’ innovation in Canada. NCR-IRAP is the Government of Canada’s premiere innovation and technology assistance program that provides a range of both technical and business-oriented advisory services along with potential financial support to qualified innovative small and medium-sized enterprises.

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NSERC - Natural Sciences and Engineering Research Council of Canada www.nserc-crsng.gc.ca

NSERC is the national instrument for making strategic investments in Canada’s capability in science and technology. There are various programs available for fundamental research and development stages, as well as a strong focus on funding feasibility studies. Opportunities are available for accessing the people, skills and knowledge that can help business find solutions, innovate and grow.

Ontario Centres of Excellence www.oce-ontario.org

The Ontario Centres of Excellence is a research-to-commercialization vehicle created in response to Ontario’s most critical competitive challenges. The Centre facilitates economic growth through support for industrially relevant R&D, the opening of new market opportunities and the commercialization of leading edge discovery. The Investment Accelerator Fund (IAF), managed by OCE accelerates the growth of new technology companies being established in Ontario and positions them for further investment by Angels and VCs. The fund assists emerging Ontario technology companies to bring their products and services to market.

Ontario Emerging Technologies Fund (OETF) – Ministry of Research & Innovation www.mri.gov.on.ca

Ontario Emerging Technologies Fund will co-invest with qualified venture capital funds and other private investors directly into companies working within the focus areas defined by Ontario’s Innovation Agenda: clean technologies; life sciences and advanced health technologies; digital media and information and communications technologies. Investments will be made alongside qualified co-investors into innovative, high-growth Ontario companies.

Ontario Research Commercialization Fund (ORCF) – Ministry of Research & Innovation http://www.mri.gov.on.ca

The Ontario Research Commercialization Program (ORCP) is part of the Ontario government’s comprehensive strategy to help business innovators take their products to market. ORCP helps Ontario’s world-class researchers and entrepreneurs combine their skills, expertise and resources to help commercialize their innovations, creating high-value jobs and a better quality of life for Ontarians.

Ontario Research Fund (ORF) – Ministry of Research & Innovation www.mri.gov.on.ca

The Ontario Research Fund (ORF) is a key part of the government’s plan to support scientific excellence by supporting 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, Ontario is providing talented researchers with the support they need to undertake cutting-edge research. The ORF is designed to provide Ontario’s research community with one window for research funding.

Ontario Tax Exemption for Commercialization (OTEC) – Ministry of Research & Innovation www.mri.gov.on.ca

The OTEC program applies to newly established corporations operating businesses in priority areas by offering an exemption from Ontario’s corporate income tax and corporate minimum tax for the first ten taxation years of the corporation applicant.

Ontario Venture Capital Fund www.ovcf.com

OVCF is a joint initiative between the Government of Ontario and leading institutional investors to invest primarily in Ontario-based and Ontario-focused venture capital and growth equity funds that support innovative, high growth companies.

SR & ED Tax Credits - Scientific Research & Experimental Development Tax Incentive Program - Canada Revenue Agency (CRA) www.cra-arc.gc.ca/sred

The SR&ED program is a federal tax incentive program, administered by the Canada Revenue Agency (CRA) that encourages Canadian businesses of all sizes, and in all sectors to conduct research and development (R&D) in Canada. The SR&ED program gives claimants cash refunds and/or tax credits for their expenditures on eligible R&D work done in Canada.

SDTC Tech Fund – Sustainable Development Technology Canada www.sdtc.ca

Sustainable Development Technology Canada (SDTC) is a not-for-profit foundation that finances and supports the development and demonstration of clean technologies which provide solutions to issues of climate change, clean air, water quality and soil, and which deliver economic, environmental and health.

Venture Capital Firms

A venture capitalist is a person who invests in a business venture, providing capital for start-up or expansion. Venture capitalists are looking for a higher rate of return than would be given by more traditional investments.