SAULT STE. MARIE INNOVATION CENTRE
99 FOSTER DR., LEVEL SIX
SAULT STE. MARIE, ON P6A 5X6

T: 705.942.7927 E: info@ssmic.com
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Sault Ste. Marie Innovation Centre
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FUNDING PROGRAMS & RESOURCES

We work with you and for you to obtain funding sources for startups and growing businesses. We have a number of funding programs available exclusively through SSMIC, as well as a strong network and expert business advisors to help connect you with the financial resources you need to start and grow your business.

About our exclusive funding

BROADBAND FOR E-BUSINESS AND MARKETING (BEAM)

general graphics of websiteWith the assistance of FedNor, the Broadband for E-Business and Marketing (BEAM) program provides eligible small to medium enterprises (SMEs) in the Algoma district funds to assist with the adoption and implementation of E-Business solutions. Eligible clients can receive funding up to $5,000.

BEAM is a grant that acts as an investment for business who want to expand their business online. The grant can be used for design, development and implementation costs of creating or upgrading a website, content, mobile applications and operational business applications. 

Contact Nicholas Guido, E-Business Research Specialist at 705-942-7927 ext. 3170.

Project Eligibility

  • Web development (design)
  • Content development (web copy; digital media)
  • Mobile applications (mobile websites; mobile apps)
  • Applications that support business operations
  • Business management and process control applications
  • Training applications

Proudly Supported By / Fièrement soutenu par:

INNOVATION ACCELERATION PROGRAM (IAP)

graphic and rocket going upIn Northern Ontario, many small and medium sized enterprises (SMEs) have difficulty funding the initial commercialization steps required to accelerate product introduction and marketplace positioning. The Innovation Acceleration Program (IAP), funded by FedNor, is intended to provide funding to assist SME’s with the development and commercialization of new innovations and promote innovative business growth. 

IAP supports technology based ventures with financial assistance to access technology and technical support. This program is designed to help fast track growth, making ventures more competitive and allowing them to commercialize their product/service.

Contact Taylor Trecroce, Innovation Acceleration Specialist at 705-942-7927 ext. 3178.

Project Eligibility

The funds received can be used to support projects that fall into the following categories, but is not limited to the following:  

Business Development

  • Business, sales and marketing plans
  • Feasibility studies
  • Export and/or international strategies development
  • Commercialization assistance
  • Third party management support or training
  • Lean manufacturing and productivity studies

Product Development

  • Materials research and/or testing
  • Certifications, in-market licenses, market entry fees
  • Software development and/or testing
  • Hardware development and/or testing
  • Product design and/or prototyping

Sales and Marketing

  • Website design and/or e-commerce
  • Brand building exercises
  • Development of promotional materials
  • Market research
  • Attending tradeshows/industry events (additional reporting requirements)
     

 

Proudly Supported By / Fièrement soutenu par: 

PROFESSIONAL SERVICES PROGRAM (PSP)

People working and talkingThe Professional Services Program (PSP) is funded by the National Research Council Canada (NRC) through its Industrial Research Assistance Program (IRAP). The PSP is intended to help for a qualified technology SME developing its own products and services to access a new professional advisor for initial assistance relevant to its growth. PSP is for small medium enterprises developing their own products within the Algoma Region.

This funding program allows eligible recipients to access professional advisory for initial assistance that is relevant to their growth. These SME’s are required to have less than 100 employees to be considered for the program. Eligible clients can receive support up to $1,500 per engagement or a maximum of 5 hours per enterprise. 

Contact Taylor Trecroce, Innovation Acceleration Specialist at 705-942-7927 ext. 3178.

Project Eligibility

The program will provide one-on-one consultation and assistance to qualified SMEs within a professional domain. It is designed to support initial consultation only with a new professional service provider with who the SME has no prior advisory relationship. Services include but are not limited to the following professional services:

  • Intellectual Property
  • Law Commercial
  • Law Accounting
  • Human Resources
  • Business Strategy
  • Market Development Strategy
  • Technology Development
  • Information Technology (security, network architect, design) etc

SMALL FIRM ASSISTANCE PROGRAM (SFAP)typing on laptop

The Small Firm Assistance Program (SFAP) is funded by the National Research Council Canada (NRC) through its Industrial Research Assistance Program (IRAP). It is intended to support any qualified technology SME, such as a growth oriented Canadian incorporated technology SME developing their own products or service to access technical or business services from qualified professionals that can assist them in their growth and competitiveness.

SFAP supports technology based companies who may require the assistance of a third-party contractors. Clients are required to be a Canadian incorporated firm with less than 100 employees and are either in phase of developing a new product or service, or adopting new technology that may increase sales, employment or productivity.

Application require a formal quote from the contractor and successful applicants are required to pay 10% + HST of the quoted project. Once the project is complete, clients are required to provide feedback to IRAP. Successful clients will be eligible to receive up to $5,000. 

Contact Taylor Trecroce, Innovation Acceleration Specialist at 705-942-7927 ext. 3178.

 

Project Eligibility

  • Provision of technical expertise
  • Technical feasibility analysis
  • Productivity enhancement analysis
  • Marketing including competitive intelligence / market research and promotion
  • Development of sales and distribution systems
  • Intellectual property searches / strategy

PUBLIC FUNDINGfish swimming to hook

Our experienced team of advisors can guide SMEs on securing public funding, particularly in support of research and development (R&D) and commercialization projects. Funding can range from helping find expertise for your project, to the purchase of capital, to supporting the hiring of Northern Ontario graduates. Review the programs outlined below and contact our team of advisors to discuss your project’s needs. SSMIC also supports its clients in navigating the process of obtaining conventional commercial financing (i.e. bank loans). We are also able to find your business the appropriate contacts at the banking institution of your choice.

Northern Ontario Angels logoANGEL INVESTMENT

The Northern Ontario Angels (NOA) is a not for profit corporation that facilitates essential business connections between Northern Ontario’s entrepreneurs and accredited angel investors. 

Their goal is to stimulate increased investment capital into Northern Ontario companies to help them succeed by improving the flow of investment capital, investment education, and management expertise into high-growth potential northern companies.