News – Grants Available for Businesses to Purchase Equipment or Technology
The Triple-P Program is a new grant program that offsets the cost of purchasing equipment or technology related to an innovative commercial product, process or service of the company within the three “Triple P” categories:
- Process improvements
This support could be applicable, but not limited to, projects that have the following outcomes:
- Increased efficiency
- Added production capacity
- Reduced waste
- Strengthened competitiveness
- Entered a new geographic or product markets
- New product developed
Administered by IION (Innovation Initiatives Ontario North), the Triple P program covers 85% of eligible costs, before tax, up to $10,000.
Who should apply? Businesses
Eligibility: The innovative applicant must be a for-profit entity, registered as a sole proprietor, partnership or corporation located in the districts of Muskoka, Nipissing, Timiskaming, or Parry Sound looking to develop their ability to advance the growth of their business as defined by the program objectives. The program is not intended to support, nor is it applicable to, businesses operating as distributors, resellers or wholesalers. Emphasis will be placed on applicants who demonstrate the potential to create jobs, increase revenue and grow the economy.
Applicants are eligible for up to $10,000 in funding to apply to costs related to the program objectives. Applications are subject to a competitive review process with those being approved having six months from the date of approval to complete the project.
Application deadline: Ongoing intake until funds are allocated.
For more information, visit: iion.ca/triple-p/.
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