ESSOR – Component 1 aims to accelerate the realization of investment projects supporting the productivity of enterprises through grants for studies prior to the investment project, and in some cases, its subsequent implementation.

The ESSOR Component 1 Fund opens until until March 31, 2024!

The program is composed of 3 sub-components:

• Sub-component A: carrying out feasibility studies related to an investment project
• Sub-component B: realization of a digital diagnosis, a digital plan
• Sub-component C: implementation of an action plan and a digital plan

Eligibility

The business can be a for-profit business, a cooperative or a social economy business.

All sectors of activity are eligible except the following:

• Primary sector (agriculture, forestry and fishing): cultivation in a greenhouse or in a building with the same purpose as a greenhouse, packaging activities, when they are major projects, forestry operations.
•  Mining, quarrying and oil and gas extraction
• Real estate and rental and leasing services
• Construction, excluding projects related to the Construction Sector Action Plan and productivity enhancement
• Utilities
• Management of companies and enterprises
• Health care and social assistance
• Educational services
• Public Administration
• Finance and Insurance
• Arts, entertainment and recreation
• Telecommunications services
• Broadcasting
• Food and Beverage
• Other services (except government), excluding : retail and wholesale trade, the tourism sector, where only projects related to accommodation services are eligible when they are linked to a tourism project.

Priority is given to businesses with 250 employees or less and sales of at least $2.5M.

Eligible projects

Carrying out feasibility studies to analyze or evaluate the technical or economic parameters of projects for the establishment, modernization or expansion of companies (sub-component A)

The feasibility study project can be defined as:

• A market analysis
• An evaluation of processes or technologies
• A site selection analysis
• An analysis related to the legal regulatory framework

The realization of the feasibility study can be related to:

• A plant construction project
• An expansion project
• An equipment addition project
• A project to add a production line

Digital diagnostics, digital plans and implementation plans (sub-component B)

Implementation of an action plan and a digital plan (sub-component C)

• A supply chain optimization
• Implementation of an ERP or CRM system
• Compliance with standards in order to reach international production standards
• Implementation of a costing system

Financial Assistance

The financial assistance granted to the company takes the form of a non-repayable contribution. This assistance can reach 50% of eligible expenses, up to a maximum of $100,000 over a maximum period of twelve months for sub-components A and C, and 50% of eligible expenses up to $20,000 for the duration of the program (until March 31, 2024) for sub-component B.

Thinking of applying for financing? These funds are highly competitive, contact us today to get started!

Why Ayming?

Our team of experts will take the time to understand your current and future planned projects. We will then align these initiatives to the program in order to provide you with the highest ROI and the highest chance of approval.

• We have extensive experience working with Canadian SMEs and have the expertise to properly position and maximize your application to secure your business funding.
• We are the first Canadian company to establish a national grants practice.
• Our proprietary artificial intelligence (AI) driven database of grants provides live access to thousands of programs, including a custom snapshot of all federal and provincial grants currently available to each company specifically.
• Our highly experienced delivery teams boast over 50 + years of combined grants experience and over 200+ years of combined SR&ED experience, meaning you partner with true subject matter experts who are invested in your success.
• No risk success-fee remuneration.

Contact one of our Grant experts today to get your application started ASAP before program funding is depleted! We’re here to help and answer all of your questions.