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Funding for Canadian clean technology
Funding for cleantech
One of the best-known sources of federal funding for the cleantech sector, Sustainable Development Technology Canada (SDTC), recently announced another funding round (putting to rest rumours that the last round was just that). This new round is welcomed given how important it is in filling a major funding gap in technology development and demonstration in cleantech.
Historically, SDTC has funded 33% of eligible costs for projects ranging in size from $2 million to $10 million through a non-dilutive grant (without taking an equity stake, without requiring ownership of intellectual property or any repayment of funds). To qualify for these funds a project must meet the following eligibility criteria:
- Address issues of climate change, clean air, water or soil quality
- Demonstrate strong market relevance
- Generate incremental intellectual property to reduce uncertainties throughout the project
- Have a consortia that contains another corporation, a partnership, a post-secondary educational institution, a research institute, and an individual with experience in sustainable technology
- Consortia must demonstrate the managerial, business planning, financial, strategic and technological expertise to bring projects to fruition.
SDTC was created by the Government of Canada and has received $1.05 billion to create a healthy environment and high quality of life for all Canadians. Their reputation is well earned because of its previous 16 rounds committing $478 million to 195 projects.
Current and former MaRS clients who’ve been approved for funding include; 6N Silicon, Blue-Zone Technologies, Duropar Technologies, Enermotion, Spartan Bioscience and Vive Nano. Details on their (and other) projects can be found here.
The application process requires a significant time investment from applicants, however the funds are incredibly valuable to recipients especially given that SDTC does not require any repayments. The application deadline is October 20th 2010. To apply contact SDTC at www.sdtc.ca/applications.
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Kevin Downing @ MaRS
Kevin currently manages initial client engagements with the MaRS Venture Group. He also administers a federal fund that provides mentorship to start-up companies across Ontario.
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