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Funding Alert: Forest Sector Investment and Innovation Program

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January 25, 2023

Funding Alert: Forest Sector Investment and Innovation Program

The Forest Sector Investment and Innovation Program (FSIIP) will assist Ontario forestry companies to develop and implement innovative technology. It will also encourage innovation in products, services and processes to improve the competitiveness of Ontario’s Forest industry.

The Forest Sector Investment and Innovation Program (FSIIP) will assist Ontario forestry companies to develop and implement innovative technology. It will also encourage innovation in products, services and processes to improve the competitiveness of Ontario’s Forest industry.

This program is accepting applications on March 17th, 2023 but we highly recommend you to get in touch in advance. The application assessment takes approximately 65 business days.

Program Funding Amount

Eligible projects must have a minimum value of $3 million to qualify for the following:

  • Performance-based loans (interest-free): up to a maximum of 30% of eligible project costs; forgivable portion to a maximum of 50% of the loan amount.
  • Grants: up to a maximum of 15% of eligible project costs may be considered in exceptional circumstances.

Eligible Applicants

Business projects: Eligible applicants are for-profit manufacturers and processors of wood and forest biomass across Ontario, such as sawmills, pulp and paper mills, secondary wood manufacturers, and bio-product manufacturers (utilizing forestry-based inputs).

  • Ontario, federal, extra-provincial and foreign (incorporated Canadian/Ontario subsidiary), wood product manufacturing corporations.
  • Open to existing operations, new plants and facilities, or spinouts / newly established subsidiaries of existing companies.

Program Funding Process

Stage 1

  • Eligibility checklist and preliminary assessment screening
  • Ministry program staff will work with applicant to guide applicants

Stage 2

  • Applicants will be notified of decision to advance to stage 2 within 10 business days
  • Applicant will have 15 days to submit a complete business plan and any supporting documents

Decision

  • After 65 business days, funding decisions will be notified

Program Objective

Support Ontario’s forestry sector by helping companies that use forestry-based inputs. The program will assist projects that display the following:

  • Productivity: increase productivity through technical development and adopting leading-edge technology
  • Innovation: New and novel technology, processes, or products
  • Market Expansion: Increase market share; compete in global markets
  • Job Creation: Create new jobs; train employees into highly skilled positions
  • Regional Impact: Strengthen provincial supply chain and bolster regional economies

Program Funding Type

  • No-interest loan (30%) with a forgivable portion (15%)

Eligible Project Costs

  • Equipment and machinery purchases
  • Facility modifications / upgrades
  • Market expansion & marketing
  • Research & Development
  • Employee Training

Ineligible Expenses

  • Restructuring, mergers and acquisitions, operational costs

Thinking of applying for financing? Don’t wait! 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.

Find out more about our Grants process here.

Contact us today!

One of our experts will be in touch shortly.
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