Two Streams to Support your Business
Business Start-up Stream
Up to $5,000
Business Expansion Steam
Up to $10,000
We will invest up to $10,000 into your business as well as provide hands-on support, access to mentors, and potential access to investors. With help from us, you will have your new business launched or your current company vaulted into success.
This program is a reimbursement program at a 50% cost share, meaning that if you spend $20,000, we will reimburse you $10,000.
Business Accelerator Funding Can Help Your Business!
This funding from this program can be used for the following:
Equipment
Obtaining professional services
(accounting, legal, web development, graphic design services, marketing, branding, training, photography, etc.)
Software and hardware purchases
Feasibility and marketing studies
Professional development, employee training and upskilling
This funding program does not support these business expenses: taxes, wages, rent, operating expenses, and retroactive expenses.
Each stream will cover 50% of eligible costs up to $5,000.00 in assistance towards approved projects in the above categories.
Who is Eligible?
-
Headquartered in the Kenora or Rainy River Districts
- Be in the following sectors: science, technology, manufacturing or agri-food (food manufactures are eligible). Other sectors will be considered on a case-by-case basis.
- Operates full-time (minimum 35 hours/week) and seasonal businesses are eligible, assuming they meet the hourly threshold when operating.
- Start-ups are eligible but, must complete a business plan or business model canvas. If you do not have one yet, please participate in NOIC's Trailblazer program!
Who is Ineligible?
- Retailers, restaurants, professional service providers and resellers.
- Hobby and part-time businesses.
- Non-for-Profits, Charities and Municipalities.
How does the program work?
The following are the steps that need to follow to access the program.
STEP 1: Contact the NOIC to schedule a meeting with an NOIC representative
STEP 2: If you are not already an NOIC client, you must complete our Innovator Member form. Existing clients do not have to complete it. Then, we will send you a link to the application form. Complete the application, including two quotes from vendors for each solution you are purchasing.
STEP 3: Once your application is completed, it will be reviewed, and we may request some changes.
STEP 4: Once your application is considered complete, the Regional Accelerator Fund review committee will evaluate the application.
STEP 5: You will be notified of the review committee's decision via email. If approved, you will receive a Letter of Offer.
STEP 6: Once you sign the letter of offer and return it to us, you will be approved to spend your funds. Do not spend any money until you have this approval.
How to Apply?
We want to make sure you don't spend time applying to a program that may not be the right fit, so email Chathura using the button below or call at 807-768-6685.
Email Chathura for full details
