Rural Innovation Initiative Eastern Ontario
The RIIEO program ended December 2020
Rural Innovation Initiative Eastern Ontario (RIIEO), made possible with funding from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), supports the transition and growth of traditional SMEs, manufacturers and communities into the new rural economy, driving direct investments by private companies in innovation capital producing aggregate local and regional effects.
Innovation capital is investment in Industry 4.O, new or next generation equipment, technology, products and processes that lead to business growth, access to new markets and investment in people (job creation).
Supported projects will strengthen competitiveness, productivity, business growth, process innovation, new market access, creation and retention of employment opportunities, re-skilling of the industrial workforce, incremental sales and increased profitability, and as a result, diversify and transform our local communities and economy.
Intake will begin May 21, 2019 with all projects being targeted for completion by December 31st, 2020.
1000 Islands Community Development Corporation
Transition SMEs into the new rural economy.
Non-repayable performance-based funding from $25,000 up to $100,000 supporting SMEs in the 1000 Islands region to expand business growth and adoption of advanced business innovation processes.
Apply through Thousand Islands Community Development Corporation
Overall it is the intent of 1000 Islands CDC to carefully invest in local projects that support the transition of traditional SMEs, manufacturers and our communities into the new rural economy.
Projects will demonstrate sustainability, drive prosperity and job creation/sustainment through innovation, research and development, commercialization, and business practices that work to position the region for global competitiveness, export markets, and economic diversification
Who is Eligible
Eligible recipients located in the 1000 Islands CDC service territory may include:
- Private, for-profit, traditional SMEs with the potential to grow through innovation.
- Fourth Pillar Not-For-Profit organizations supporting business and community transition into the new rural economy.
What is Eligible
Projects in the following priority sectors will be considered:
- Advanced Manufacturing
- Clean Tech
- Digital Industries
- Food Processing
- Projects that focus on inclusiveness: youth, women entrepreneurs, Indigenous peoples, Official Language Minority Communities, persons with disabilities, immigrants and visible minorities.
Eligible activities should expand business growth and allow SMEs to transition into the new rural economy, support the adoption of advanced business and innovation processes such as:
- New materials
- Integrated solutions
- Rapid prototyping and engineering
- Machine learning
- Cutting edge services software
- Cloud computing
- Robotics and automation
- Extended intelligence, etc.
Fourth Pillar NFP projects should be business focussed, align with federal government economic development priorities, support priority industry sectors and inclusiveness related priorities. Examples of eligible project activities could include:
- Support programs for re-skilling of the industrial workforce
- Business accelerators and hubs diversifying and transitioning local economies
Selected projects will be eligible for a non-repayable performance-based contribution and require a minimum 50 percent cash contribution by the recipient on eligible expenses net of HST. The minimum project size for an RIIEO – 1000 Islands CDC local stream project is $50,000 resulting in a minimum contribution of $25,000 by the recipient.
Eligible costs for project activities may include:
All costs must be reasonable and directly related to the eligible project activities.
Ineligible and/or Usupported Costs Include:
Ineligible and/or Unsupported Costs include:
- Any costs deemed not reasonable and/or not directly related to the eligible project activities.
- Activities in support of regular maintenance and/or ongoing operational costs.
- Cost incurred prior to the eligibility date as defined in the Contribution Agreement.
- Costs incurred after December 31, 2020.
- Any cost that is ineligible under the Contribution Agreement.
- Acquisition of land or buildings.
Eligible recipients must demonstrate that they are prepared to and have mechanisms in place to submit data, schedules, plans and reports in sufficient detail for the 1000 Islands CDC to:
- Assess project progress
- Post project completion monitoring
- Evaluate the outcomes and effectiveness of the contributions
Eligible recipients will provide the 1000 Islands CDC with Progress/Activity Reports and financial claims on a monthly basis, quarterly or as required and outlined in the Contribution Agreement.
How to Apply
Local Stream – 1000 Islands CDC
- Submission – Submit your completed application.
- Due Diligence – 1000 Islands CDC staff carry out review, due diligence and project development.
- Committee Review – Committee review and recommendation to Board of Directors.
- Project Selection – Decision by Board of Directors.
Applicants notified typically within 6 weeks of date of completed application.
If a project is selected for support, 1000 Islands CDC will prepare a Contribution Agreement with terms and conditions.
Financial contributions are performance-based and subject to a 10% holdback until the applicant has completed the project, and met all project requirements as outlined in the Contribution agreement. No project is expected to extend past December 31, 2020.
Incomplete applications will not be considered.
Applicants are encouraged to contact the 1000 Islands CDC to discuss proposed projects prior to submitting an online application.
Accelerate growth of existing innovation-driven SMEs
Non-repayable performance-based funding of $100,000 to accelerate the growth of SMEs on the innovation track, with benefits to multiple communities within Eastern Ontario.
To apply for the Regional Stream visit RIIEO Regional Stream
The combined stream total support to for-profit recipients will not exceed $100,000.
Sorry – This program has ended