Cornwall Ontario – A new program has been launched to support start-ups along with small and medium-sized enterprises (SMEs) in Southern Ontario.
The thriveFORWARD initiative will be making forward investments in the talent, technology and industries of the future, and seeks to enhance entrepreneur-led growth in strategic sectors and across multiple priority pathways. The program is administered by the Northumberland Community Futures Development Corporation (NCFDC).
“We know across the chain of innovation in southern Ontario that there is significant pent-up demand for industrial partnerships like thriveFORWARD,” said Wendy Curtis, Executive Director of NCFDC. “There is an opportunity to provide strategic funding now and work with entrepreneurs to create new economic momentum across the region.”
Matching non-repayable funding of up to $25,000 is available for start-ups while SMEs are eligible for up to $100,000 reimbursing 50 percent of eligible and approved costs.
thriveFORWARD is expected to support 145 ventures in going green and/or driving digital transformation (such as cybersecurity readiness, productivity enhancements and operational resilience) and focusing on critical sectors such as food production, medical supplies and bio-manufacturing.
Participating businesses will invest in activities such as future-proofing, building resiliency and preparing for long-term growth by transitioning to a green economy, fostering an inclusive recovery, enhancing competitiveness, and creating jobs.
Applications for thriveFORWARD are now being accepted, with an open continuous intake period until the program is fully subscribed, and no later than December 31, 2023. Interested applicants are encouraged to learn more and submit an application at the following link:
Eligible projects include the commercialization of innovation or the adoption of an innovation by a startup or SME, prioritizing critical sectors, diverse organizations and equity-deserving entrepreneurs that are investing in clean inclusive growth.
