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FUNDING AVAILABLE TO BRING PRE-COMMERCIALIZED PRODUCTS AND SERVICES TO MARKET
The Build in Canada Innovation Program (BCIP) contributes up to $500,000 towards the procurement, testing and evaluation of innovative goods and services by Canadian government departments and agencies. Read More
The New Horizons for MedTech (NHM) program will contribute 50% up to $30,000 towards activities aimed at increasing export sales of medical devices made in Southern Ontario. Projects may endeavor to enter global markets, commercialize new technology in defined export markets,
or develop new export markets. Eligible costs include but are not limited to:
- Consultant fees (feasibility studies, marketing plans, market assessments etc.)
- Professional fees (legal, patent search)
- Tradeshow and conference fees
- Internationalization of packaging, product externals, website
- Travel costs for outbound/inbound trade missions (airfare and ground transportation)
To be eligible, medical product manufacturers must have operations in Southern Ontario, be incorporated for at last two years, and have less than 1,000 employees. Applicants must be exporting or planning to export, selling into a value chain leading to exports, or otherwise providing export opportunities. Projects may not begin until funding is approved; however, projects underway may receive support for additional activities yielding incremental results. Activities must be completed by December 31, 2013. The application deadline is May 15, 2013.
The Health Technology Commercialization Program (HTCP) provides loans of up to 50% to a maximum of $750,000 for R&D related activities towards the commercialization of Ontario-made medical (Medtech) devices. These devices included but not limited to:
- Medical devices;
- Diagnostics and medical imaging;
- Healthcare IT and wireless health (smart devices) and;
- Assistive devices and home healthcare.
Although, support can be awarded to a single Ontario company, submitted projects must include one or more co-applicants, who have identified and/or will derive benefit from the device’s commercialization, plus agree to contribute financial and/or in-kind support. Fundable activities include R&D, employee training, I.P. investigation, regulatory compliance and other initiatives related to moving from bench scale to full production. The program does not pay for marketing (e.g. promotional material, establishing vendors, the hiring of marketing personnel or consultants, or participation and the purchasing of trade show activities). Eligible project expenses include employee salaries, travel, consultants, equipment and retrofits. Land and building purchases are not eligible. Applications and amount of awarded funding will be determined by the project’s resulting job creation as well as its significance in addressing of an unmet clinical need while improving the cost-effectiveness of healthcare delivery. The deadline for submitting an “Expression of Interest” for funding is Monday, April 22, 2013 at 5:00pm EST.