The Advanced Manufacturing and Innovation Competitiveness (AMIC) Stream will provide financial support to advanced manufacturing companies with a focus on small and medium-sized enterprises across Ontario
Overview
The Advanced Manufacturing and Innovation Competitiveness (AMIC) Stream will provide financial support to advanced manufacturing companies with a focus on small and medium-sized enterprises across Ontario. It will provide investments in:
- capital equipment
- technology adoption
- skills development
The types of support available include:
- funding support
- complementary services and support
The fund supports projects that:
- create jobs and build talent
- attract and encourage private sector investment
- help companies to adopt technologies that improve their competitiveness
- lead to business growth and broad positive economic impacts
- encourage innovation, collaboration, and cluster development
Eligibility
The fund supports businesses and organizations in advanced manufacturing sectors, including:
- aerospace
- automotive
- chemical
- information and communications technology (ICT)
- life sciences
- steel
To be eligible, businesses need to:
- have at least three years of operations/financial statements
- employ at least 10 people
- commit to creating at least five new jobs and/or upskilled current jobs
- invest at least $500,000 in their project
- be located in, or plan to locate in, a community in Ontario
Ineligible projects include:
- ongoing operations including maintenance and capital replacement
- refinancing of existing business operations
- acquisitions and buyouts
- restructuring, or relocating to other jurisdictions within Ontario
- primary production
- retail
- construction (for example, residential development)
- personal services
- consulting
- electricity generation
- waste management
- recycling
Restrictions
You are not allowed to combine (or stack) AMIC funding with funding from other provincial programs.
Application Open Date (Status)
Open
Application End Date (Deadline)
March 16, 2023 August 31, 2023
Funding Limits
Loans up to 15% of funding to a maximum of $5 million, interest free during the project period (up to 4 years) Grants up to 15% of $500,000 for small companies located in rural communities or 15% of $1.5 million for strategic projects that are foreign direct investments or from companies competing against other jurisdiction or companies with significant reshoring projects
Funding rules are strictly bound to the terms of the successful Grant Application.
Purpose & Commonly Used For
- Capital equipment
- Technology adoption
- Skills development
More Information
The Regional Development Program: Advanced Manufacturing and Innovation Competitiveness (AMIC) Stream fund is organized by the Government of Ontario, making local investments in electric vehicles, tech, life sciences, food and manufacturing to create jobs and help build the economy in communities across Ontario.
These investments will help companies expand operations and place Ontario — and companies throughout the province — in a competitive global position.
