Rural Innovation Initiative Eastern Ontario (RIIEO) LOCAL STREAM

 

Rural Innovation Initiative Eastern Ontario – Regional Stream is non-repayable performance-based funding of $100,000 to accelerate the growth of SMEs on the innovation track, with benefits to multiple communities within Eastern Ontario. (click here for more information)

Rural Innovation Initiative Eastern Ontario – Local Stream is non-repayable performance-based funding from $25,000 up to $100,000 transitioning SMEs in Trenval catchment area to expand business growth and adoption of advanced business innovation processes. (see details below for Trenval area)

Overview

Eastern Ontario Innovation Initiative made possible with funding from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) supports the transition and growth of traditional SMEs, manufacturers and communities into the new rural economy, driving direct investments by private companies in innovation capital producing aggregate local and regional effects.

Innovation capital is investment in Industry 4.O, new or next generation equipment, technology, products and processes that lead to business growth, access to new markets and investment in people (job creation).

Supported projects will strengthen competitiveness, productivity, business growth, process innovation, new market access, creation and retention of employment opportunities, the re-skilling of the industrial workforce, incremental sales and increased profitability, and as a result, diversify and transform our local communities and economy.

General Intake for Trenval Applications for this fiscal year in our catchment area will end on August 10, 2019,  applications are to be received by 4:30pm.

General Intent

Overall it is the intent of Trenval to carefully invest in local projects that support the transition of traditional SMEs, manufacturers and our communities into the new rural economy.

Projects will demonstrate sustainability, drive prosperity and job creation/sustainment through innovation, research and development, commercialization, and business practices that work to position the region for global competitiveness, export markets, and economic diversification.

Who Is Eligible

Eligible recipients located in Trenval catchment area may include:

  • Private, for-profit, traditional SMEs with the potential to grow through innovation.
  • Fourth Pillar Not-For-Profit organizations supporting business and community transition into the new rural economy.

What Is Eligible

Projects in the following priority sectors will be considered:

  • Advanced Manufacturing
  • Clean Tech
  • Digital Industries
  • Agri­food
  • Food Processing

Projects that focus on inclusiveness: youth, women entrepreneurs, Indigenous peoples, Official Language Minority Communities, persons with disabilities, immigrants and visible minorities

Eligible Activity

Eligible activities should expand business growth and allow SMEs to transition into the new rural economy, support the adoption of advanced business and innovation processes such as:

  • New materials
  • Integrated solutions
  • Rapid prototyping and engineering
  • Machine learning
  • Cutting edge services software
  • Cloud computing
  • Robotics and automation
  • Extended intelligence, etc.

Fourth Pillar NFP projects should be business focused, align with federal government economic development priorities, support priority industry sectors and inclusiveness related priorities. Examples of eligible project activities could include:

  • Support programs for re-skilling of the industrial workforce
  • Business accelerators and hubs diversifying and transitioning local economies

Selected projects will be eligible for a non-repayable performance-based contribution and require a minimum 50 percent cash contribution by the recipient on eligible expenses net of HST. The minimum project size for an RIIEO – Trenval local stream project is $50,000 resulting in a minimum contribution of $25,000 by the recipient.

The combined Stream total support to for-profit recipients will not exceed $100,000.

Eligible Costs

Eligible costs for project activities may include:

All costs must be reasonable and directly related to the eligible project activities.

  • Labour
  • Expertise
  • Non-Capital
  • Capital

Ineligible and/or Unsupported Costs by way of examples include:

  • Any costs deemed not reasonable and/or not directly related to the eligible project activities.
  • Activities in support of regular maintenance and/or ongoing operational costs.
  • Cost incurred prior to the eligibility date as defined in the Contribution Agreement.
  • Costs incurred after December 31, 2020.
  • Any cost that is ineligible under the Contribution Agreement.
  • Acquisition of land or buildings or vehicle purchase.
  • Lease agreements.

Reporting Requirements

Eligible costs for project activities may include:

Eligible recipients must demonstrate that they are prepared to and have mechanisms in place to submit data, schedules, plans and reports in sufficient detail for the Trenval to:

  • Assess project progress
  • Post project completion monitoring
  • Evaluate the outcomes and effectiveness of the contributions

Eligible recipients will provide the Trenval CFDC with Progress/Activity Reports and financial claims on a monthly basis, quarterly or as required and outlined in the Contribution Agreement.

How to Apply

Local Stream – Trenval

  1. Submission – Click Here to Download the RIIEO Local Stream Application Fillable Form
  2. Due Diligence – Trenval staff carry out review, due diligence and project development
  3. Committee Review – Committee review and recommendation to Board of Directors, Trenval
  4. Project Selection – Decision by Board of Directors, Trenval (Accept or Decline).

Applicants notified typically within 6 weeks of date of completed application.

If a project is selected for support, Trenval will prepare a Contribution Agreement with terms and conditions.

Financial contributions are performance-based and subject to a 10% holdback until the applicant has completed the project, and met all project requirements as outlined in the Contribution agreement. No project is expected to extend past December 31, 2020.

Incomplete applications will not be considered.

Applicants are encouraged to contact the Trenval Program Officer to discuss proposed projects prior to submitting an online application:

Harry Todd

Business Counsellor/Administration/Accounting
Trenval Business Development Corporation
tel: 613-961-7999 ext 223
Click Here to Email

RIIEO Projects Funded

2019-01 Whites Mechanical and Fabrication, location Belleville, approved June 21,2019 for $75,000.

Business growth and expansion with purchase of CNC and Vertical Machining Centre.

2019-02 Jensen Precision Machining Ltd., location Deseronto, approved June 21, 2019 for $32,500.

Business growth and expansion with purchase of a quality control vision measurement system.

2019-03 Ontario Truss and Wall Ltd. location Foxboro, approved July 18, 2019 for $75,000

Business growth and expansion with purchase of Laser overhead and projector system.