Funding Alert: The Four Streams of NOHFC

The Northern Ontario Heritage Fund Corporation (NOHFC ) encourages economic development initiatives in Northern Ontario by supporting financial assistance to projects aimed at stabilizing, broadening, and nurturing the economic growth and diversification of the region.

The Northern Ontario Heritage Fund Corporation (NOHFC ) encourages economic development initiatives in Northern Ontario by supporting financial assistance to projects aimed at stabilizing, broadening, and nurturing the economic growth and diversification of the region.

It’s worth noting that the NOHFC is currently offering four distinct government funding programs, and each program featuring its own individual streams with varying funding amounts and eligibility requirements.

1. Innovation Stream – Funds for research and development

2. Grow Stream – Funds to expand your business

3. Launch Stream – Funds for new business opportunities

4. Locate Stream – Funds to locate your business in Northern Ontario

1. Innovation Stream

The NOHFC Innovation Stream supports the research, development and commercialization of new and innovative technologies in Northern Ontario.

Funding Amount

• A conditional contribution of up to 50% of total eligible costs to a maximum of $500,000 for R&D only projects
• Up to $2M for combined R&D and demonstration & commercialization projects.

Eligible Project

• Applied research & development projects: “The development or implementation of ideas to produce new or improved strategies, capabilities, products, services, or processes with a strong focus on ensuring to satisfy a market need or desire”.
• Demonstration & commercialization of new and innovative technologies

Note: Applicants have the choice to apply for support for applied research & development or demonstration & commercialization costs under separate applications or in one combined application.

Eligible Expenses

• Applied research & development activities and associated costs including technical labour cost, prototyping costs (engineering and design services and component purchase, fabrication and installation costs), product testing, Intellectual property protection costs and research and development services provided by public sector partner
• Demonstration & commercialization activities and associated costs including direct internal technical labour costs, building or renovation costs, prototype demonstration costs, material costs, product certification costs, marketing cost, research and development services provided by public sector partners.

2. Grow Stream

The NOHFC Investment – Grow Stream is designed to assist new businesses that intend to start a new business, expand an existing business, or locate new business operations in Northern Ontario.

Funding Amount

• Conditional contribution of up to 20% of total eligible costs (max $400,000).
• Conditional contribution of up to 20% of total eligible costs (max. $400,000), plus a term loan of up to 30% of total eligible costs (max. $600,000).
• Funding in the form of term loan only of up to 50% of total eligible costs to a maximum of $1,000,000

Eligible Expenses

• Capital costs and Land servicing
• Equipment and technology
• Marketing for new products and business initiatives
• Training costs incurred with third parties

3. Launch Stream

The NOHFC Investment – Launch Stream is designed to assist launch new business operations in Northern Ontario.

Funding Amount

• Up to 50% of total eligible costs to a maximum of $200,000.

Eligible Project

• Launching a new business
• Operate on a full-time basis and the entrepreneur/owner must work at the business on a full-time basis

Eligible Expenses

• Capital costs and Land servicing
• Equipment and technology
• Marketing for new products and business initiatives
• Training costs incurred with third parties

4. Locate Stream

The NOHFC Investment – Locate Stream is designed to locate new business operations in Northern Ontario.

Funding Amount

• A conditional contribution or a combination of a conditional contribution and term loan, on a case-by-case basis based on net economic benefit to Northern Ontario, to a maximum of $5M.
• Note: Combined Federal and Provincial government funding may not exceed 50% of eligible project costs

Eligible Project

• Launching a new business
• Operate on a full-time basis and the entrepreneur/owner must work at the business on a full-time basis

Eligible Expenses

• Capital costs and Land servicing
• Equipment and technology
• Marketing for new products and business initiatives
• Training costs incurred with third parties