Government Funding Available for Automotive Sector!
$100 Million Available for Automotive Product and/or Process Development
The Automotive Supplier Innovation Program will contribute 50% up to $10 million in grant funding towards the pre-commercialization of highly innovative products and/or processes for original passenger vehicle assembly/production. Program support is provided for proof of concept to prototype demonstration pre-commercialization related activities. These activities include but are not limited to developing product and/or process that will increase energy and/or production efficiency, improve environmental sustainability (e.g. biomaterial development), result in safer vehicles, address or stimulate consumer demand, and/or benefit the sector as a whole. Program funded expenses include project-related labour, materials, equipment and overhead costs. The program will not contribute towards land or building purchases as well as other pre-commercialization and commercialization expenses. Projects will be evaluated on innovation as well as resulting job creation/retention, economic and environmental benefits to Canada. Applicant companies are required to be incorporated and operate in Canada. Priority will be given to companies with less than 500 employees and $1 billion in sales.