The Rural Innovation Initiative Eastern Ontario (RIIEO), 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.
Recipients can access funding through one of two streams. The Regional Stream or the Local Stream. The LOCAL Stream is being delivered by all 15 Eastern Ontario CFDCs while the REGIONAL Stream is being delivered by Northumberland CFDC.
TRANSITION SMEs into the new rural economy. Non-repayable performance-based funding from $25,000 up to $100,000 supporting SMEs in Renfrew County to expand business growth and adoption of advanced business innovation processes.
ACCELERATE the growth of existing innovation-driven SMEs. 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.
Intake to both streams will begin May 21, 2019 with all projects through 15 Eastern Ontario CFDCs being targeted for completion by December 31st, 2020.
Successful recipients may receive up to 50% of eligible costs net of HST. The combined Stream total support to for-profit recipients will not exceed $100,000.
Overall it is the intent of Community Futures is 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.
Rural Innovation Initiative Eastern Ontario Priority Sectors include:
- Advanced Manufacturing;
- Clean Tech;
- Digital Industries;
- Food Processing;
- Projects that focus on inclusiveness;
Eligible Project Applicants 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;
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 focussed, 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
- Labour (New hires only)
- Non-capital (Travel only at economy fares and Accommodation only at standard rates)
All costs must be reasonable and directly related to the eligible project activities.
Ineligible and/or Unsupported Costs
- 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 project submission date as outlined in the Contribution Agreement
- Costs incurred after December 31, 2020
- Any cost that is ineligible under the Contribution Agreement
- Acquisition of land or buildings
Application intake for the Local Stream will be open from May 21, 2019 to June 30, 2019.
The completed application may be received in-person at our offices or electronically via email:
1035 O’Brien Road, Unit 6
Renfrew, Ontario K7V 0B3
Upon receipt, your application will be assessed and evaluated against the priorities and eligibilities of the program as outlined in the Federal Economic Development Agency for Southern Ontario (FedDev) Rural Innovation Initiative Eastern Ontario guidelines (As outlined in tabs General Intent, Who is Eligible, and What is Eligible).
All funding decisions are made at the community level by our local Board of Directors, made up of entrepreneurs and experts in their field.
If a project is selected for support, the CFDC will prepare a Contribution Agreement with terms, conditions and a funding disbursement schedule. No project is expected to extend beyond December 31, 2020.
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 RCCFDC to:
- Assess project progress
- Post project completion monitoring
- Evaluate the outcomes and effectiveness of the contributions
Eligible Recipients will provide the RCCFDC with Progress/Activity Reports and financial claims on a monthly basis as required and stated in the Contribution Agreement.