Cleantech Funding in Canada - Finance Your Tech Today
Cleantech Funding Opportunities for Canadian Companies
Clean Conduit understands the importance of cost savings to Canadian companies, especially to small to medium sized enterprises, for initiatives like clean energy projects or projects that solve pressing environmental challenges, and has found funding programs for cashflow that offset project costs, including costs to hire us as a consultant.
This notably includes the CanExport SMEs (up to $50,000 of eligible expenses), as well as other engagements where our fees for advisory services qualify for reimbursement by a third party.
We work with you to help you to define project proposals and then secure and fulfil grants from government programs and other cleantech funding opportunities to obtain maximum funding.
- We are your CanExport project partners, working with you on market research, lead generation, proposed project coordination, outreach, and as authorized agent to ensure the project yields the best possible outcome.
- Our engineering and project management fees can be offset as part of funding awarded by Sustainable Development Technology Canada (SDTC).
- Some funding programs involve working with post secondary institutions, and we can assist you in establishing and maintaining those engagements.
Clean Conduit helps cleantech businesses in Canada find financial assistance.
Whether you are already working with the Business Development Bank or Economic Development Canada, or with other partners for minority equity investments, we are here to help you thrive and make a positive environmental impact.
Whether you have proven market traction or are a start up, we can help you navigate the existing funding programs available to you.
We work with not for profit organizations, medium sized enterprises, global companies and all kinds of clean tech businesses in between to power their revenue growth.
In particular, we are seeking partners in the following categories:
- Clean tech
- Carbon emissions
- Carbon capture
- Low carbon fuels
- Clean Air
- GHG emissions
- Clean water
- Clean soil
Cleantech Funding Programs in Canada
FUNDING PROGRAM | REGION | VALUE | DESCRIPTION |
|---|---|---|---|
CanExport | Canadawide | Up to 75% to a max
$75,000 in grants | Supports global expansion projects including participation in
trade shows and government-led trade missions |
Creative Export Canada
(CEC) | Canadawide | Access up to 50% of
costs to a maximum
$500,000 per
collaboration | Supports commercialization of technology and/or
productivity improvements of businesses |
CM&E | Canadawide | Up to $25,000 in
reimbursable funds | CME’s Technology Assessment Program helps companies
understand what technologies are best suited for their needs
and provides greater certainty on their investments |
Industrial Research
Assistance Program
(IRAP) – National
Research Council (NRC) | Canadawide | Access up to 60-80% of
costs to a maximum
$10M per application | Designed to accelerate the research and development pre commercial
projects of Canadian innovators |
NSERC Alliance | Canadawide | Up to $1,000,000 in
grant funding per year | Supporting collaborative research projects between Canadian
businesses and universities |
Save On Energy | Canadawide | The lesser of 50% of
eligible project costs or
$1 million | In the Retrofit program you can receive incentives for a
variety of energy efficient measures available under three
streams: Lighting, HVAC, and Manufacturing and other
equipment |
Strategic Innovation
Fund (SIF) | Canadawide | Submit a project budget
of at least $20M and
access up to 50% of
eligible costs | Supports projects that drive sustained productivity and
economic benefits |
SD Tech Fund | Canadawide | Access up to 40% of
project costs for an
average funding
contribution of
$3,000,000 | Supports projects that aim to improve water, soil
and air quality to reduce the effects of climate change |
Innovative Solutions
Canada (ISC) | Canadawide | Up to $150k for proof-ofconcept
projects, and up
to $1M for prototype
development, and may
also be awarded a
government contract | Helps start-ups and small businesses overcome technology
development hurdles so that they can produce globallydemanded
products and services |
Canada Small Business
Financing Program
(CSBFP) | Canadawide | Up to $1M for business
expansion activities | Supports business growth through business loans with
competitive interest rates |
Youth Employment
Program (IRAP) | Canadawide | Provides up to $30,000
per graduate (up to two)
for a period of 6 to 12
months | Designed to assist funding of hiring young Canadian postsecondary
graduates |
Business Scale-up and
Productivity Program
(BSP) | Ontario | Access repayable
funding for up to 35% of
project costs to a
maximum $10M | Helps to offset upfront project costs and helps southern
Ontario businesses grow more quickly |
Alberta-Ontario
Innovation Program | Ontario | Access up to 50% of
costs to a maximum
$500,000 per
collaboration | Supports commercialization of technology and/or
productivity improvements of businesses |
Market Readiness
Program | Ontario | Access up to $250,000 in
Ontario grants per
application | Supports academic spin-off companies, OCI accelerator
(CLA/OCIA) graduates, and SmartStart Seed Fund awardees
with Ontario government grants to further their early-stage
commercialization and support scalable business growth |
Ontario Manufacturing
Training Program
(OMTP) | Ontario | Access up to 25-50% of
costs up to $100,000 per
application | Supports the adaptation of new technology, new processes
or procedures or a change within the company to support
innovation or retooling which would lead to the creation of
new lines of production |
Southwestern Ontario
Development Fund | Ontario | Up to 15-50% of
expenses to a maximum
of $500k-$5M in grant or
loan funding depending
on stream | Supports companies investing in new facilities and
equipment to advance regional priorities |
Fast-Track to Financing (NPC) | Canadawide | Access up to 40% of costs up to $62,500 per application | Supports Canadian SMEs, start-up companies, and academic research institutes in business and commercialization plan development for natural products and innovative technologies |
Ontario Agri-food Research Initiative (OAFRI): Commercialization Stream | Ontario | Access up to 100% of up to $150,000 in eligible costs per application | Supports Ontarian SMEs with commercialization and innovation in the agri-food and agri-tech sectors |
REGION: Canadawide
VALUE: Up to 75% to a max $75,000 in grants
DESCRIPTION: Supports global expansion projects including participation in trade shows and government-led trade missions
REGION:Canadawide
VALUE:Access up to 50% of costs to a maximum $500,000 per collaboration
DESCRIPTION:Supports commercialization of technology and/or productivity improvements of businesses
REGION:Canadawide
VALUE:Up to $25,000 in reimbursable funds
DESCRIPTION:CME’s Technology Assessment Program helps companies understand what technologies are best suited for their needs and provides greater certainty on their investments
REGION:Canadawide
VALUE:Access up to 60-80% of costs to a maximum $10M per application
DESCRIPTION:Designed to accelerate the research and development projects of Canadian innovators
REGION:Canadawide
VALUE:Up to $1,000,000 in grant funding per year
DESCRIPTION: Supporting collaborative R&D projects between Canadian businesses and universities
REGION:Canadawide
VALUE:The lesser of 50% of eligible project costs or $1 million
DESCRIPTION: In the Retrofit program you can receive incentives for a variety of energy efficient measures available under three streams: Lighting, HVAC, and Manufacturing and other equipment
REGION: Canadawide
VALUE: Submit a project budget of at least $20M and access up to 50% of eligible costs
DESCRIPTION: Supports projects that drive sustained productivity and economic benefits
REGION: Canadawide
VALUE:Access up to 40% of project costs for an average funding contribution of $3,000,000
DESCRIPTION: Supports cleantech projects that aim to improve water, soil and air quality to reduce the effects of climate change
REGION: Canadawide
VALUE:Up to $150k for proof-ofconcept projects, and up to $1M for prototype development, and may also be awarded a government contract
DESCRIPTION: Helps start-ups and small businesses overcome technology development hurdles so that they can produce globally demanded products and services
REGION: Canadawide
VALUE:Up to $1M for business expansion activities
DESCRIPTION: Supports business growth through business loans with competitive interest rates
REGION: Canadawide
VALUE: Provides up to $30,000 per graduate (up to two) for a period of 6 to 12 months
DESCRIPTION: Designed to assist funding of hiring young Canadian postsecondary graduates
REGION: Ontario
VALUE: Access repayable funding for up to 35% of project costs to a maximum $10M
DESCRIPTION: Helps to offset upfront project costs and helps southern Ontario businesses grow more quickly
REGION: Ontario
VALUE: Access up to 50% of costs to a maximum $500,000 per collaboration
DESCRIPTION: Supports commercialization of technology and/or productivity improvements of businesses
REGION: Ontario
VALUE: Access up to $250,000 in Ontario grants per application
DESCRIPTION: Supports academic spin-off companies, OCI accelerator (CLA/OCIA) graduates, and SmartStart Seed Fund awardees with Ontario government grants to further their early-stage commercialization and support scalable business growth
REGION: Ontario
VALUE: Access up to 25-50% of costs up to $100,000 per application
DESCRIPTION: Supports the adaptation of new technology, new processes or procedures or a change within the company to support innovation or retooling which would lead to the creation of new lines of production
REGION: Ontario
VALUE: Up to 15-50% of expenses to a maximum of $500k-$5M in grant or loan funding depending on stream
DESCRIPTION: Supports companies investing in new facilities and equipment to advance regional priorities
REGION: Canadawide
VALUE: Up to 40% of costs up to $62,500 per application
DESCRIPTION: Supports Canadian SMEs, start-up companies, and academic research institutes in business and commercialization plan development for natural products and technologies
Funding: An Insider's Guide Presentation
Contact us to learn more about the above funding programs and others:
Clean tech Canada FAQ
What are the different sources of clean tech funding available in Canada?
For the purposes of this question, we will focus on Canadawide funding. Common funding sources include:
- National Research Council of Canada (most commonly under the Industrial Research Assistance Program, or IRAP)
- Innovation, Science, and Economic Development Canada
- Natural Resources Canada
- Trade Commissioner Services Canada
Are there provincial or territorial-specific funding programs available for clean tech companies?
Yes! Federal funding is not the only form of government funding. Provincial governments give funding programs for cleantech companies.
Are there collaborative grants available for cleantech research and development between academia and industry?
Yes. NSERC grants are good examples of these types of funding programs.
Are there funding options available for small- to medium-sized cleantech businesses specifically?
Yes. In fact, nearly all of the funds we get our clients are specifically meant for SMEs.
How does repayment work for different types of clean tech funding (e.g., loans, grants, equity investments)?
Grants are non-repayable. Loans will come with details on how repayment works (interest rate, repayment period, etc.).
What are the reporting and compliance requirements for companies receiving cleantech funding?
Most frequently, we’ve come across quarterly reporting requirements where funded entities report on project progress, difficulties, spending, etc. It’s during reporting that companies can file expenditure claims for reimbursement.
How competitive is it to secure money from clean tech funding programs in Canada?
The level of competition can vary based on the specific type of funding and the stage of development of the project.
What are common reasons cleantech funding applications are rejected?
- Inadequate TRL level required by the agency, or inadequate proof of TRL
- Weak, improperly-constructed business plan
- The funding agency sees too much risk in the project.
- The application did not adequately convey why the project should be funded under the program.
- Financial viability concerns
Are there consulting or advisory services available to help navigate the clean tech funding application process?
Yes, we at Clean Conduit offer them. Contact us to learn more.
How long does the application process typically take, and when will funds be disbursed if successful?
We’ve come across programs that approve or deny applications almost instantly, and others that take months.
Funding disbursement is typically done at regular intervals, such as quarters, and usually after a claim for reimbursement is submitted to the agency.
Are there any upcoming changes to government policies that might affect clean tech funding opportunities?
While not “upcoming,” the federal government suspended SDTC funding in October 2023, following reports of fund misappropriation. However, please do not let this deter you from clean tech. Even the fiscally conservative Conservative Party has pledged to invest $1B in EV manufacturing and $1B in hydrogen.
Funding
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CM&E
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CanExport
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