Steven Karpenko, Senior Business Advisor for the Ministry of Economic Development, Job Creation and Trade, joined us to discuss the Ontario Together Fund. Launched in March with a $50 million budget, the fund provides immediate funding to firms and organizations who can supply emergency products and innovations to support COVID-19 response and relief.
Funding through the Ontario Together Fund is a grant, not a loan, covering up to 75% of eligible costs, to a maximum of $2.5 million. Stacking with other sources of government funding is allowed.
Projects that will be eligible for funding through the Ontario Together Fund will focus on providing immediate emergency, preparedness, relief and benefits to the province across three streams:
- Emergency Supplies: Emergency medical supplies, such as ventilators, sanitizers, swabs and testing equipment, masks, gloves, gowns, reagents
- Innovative Solutions: Solutions from businesses offering innovation solutions.
- Innovative Ideas: Other ideas, products or services that could support relief efforts.
For early-stage companies applying with an innovative technology who might not meet the eligibility guidelines, Karpenko recommends collaborating with other partners. Our Venture Growth & Corporate Innovation can help you connect with potential business and non-profit partners to bring forward an eligible proposal.
For more information and to submit an application, visit the Ontario Together Fund.