Grant Name: Innovation Growth Program

Status:

Accepting Applications

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Deadline:

March 15, 2022

Description

This program provides cost-sharing assistance to small and Medium-sized enterprises (SMEs) to assist them in developing and commercializing new innovative products and process.

Eligibility

Eligible applicants:

  • For profit, taxable Canadian Controlled Private Corporations with a permanent establishment in Manitoba that pays at least 50% of total salaries and wages to Manitoba resident employees
  • Annual revenue of $15 million or less, or fewer than 100 full time equivalent employees, including it affiliates on a consolidated basis
  • Demonstrate owner investment of $25,000 in cash equity invested in the business prior to application. Cash equity is defined as common or preferred share capital and/or retained earning

Eligible Activities

  • Development of new innovative products and processes
  • Commercializing market ready innovative products or processes

How to Apply?

There is a list of criteria on the website for each section below:

  • Quality of the Project
  • Market for the Innovation
  • Management Capacity
  • Commercialized Plan and Business Model
  • Investment secured
  • Benefits to Manitoba

Submissions to the program must include:

  • A completed IGP Application Form in Word format.
  • A completed and signed Application Form – PDF or scanned version
  • Current balance sheet and income statement of the applicant (no older than 3 months)
  • Year-end Financial Statement including balance sheet and income statement of the applicant (for the last fiscal year)
  • If applicant corporation has affiliated companies, attach a copy of Schedule 9 of most recent T2 tax return
  • Proof of confirmed funding from all other sources at the time of application, including government and non-government (non-government funding must represent at least 50 per cent of the proposed project costs).

Funding Amount

This program will cover a maximum of 50% of eligible costs

Contact Information

NA

Processing Fee

NA

Location/Classification

Manitoba

Business / Community/Economic Development

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