The Government of Ontario has introduced the
Small Business Innovation Challenge
(SBIC) to support the growth of high-potential, technology-driven small- and medium-sized enterprises (SMEs) in the province.
The SBIC targets Ontario's for-profit SMEs that have no more than 500 employees and demonstrate the capacity to develop an innovative technology/solution that could lead to a globally competitive business and market opportunity.
Through the SBIC, participating SMEs will be provided with opportunities to develop and implement innovative technology solutions to challenges identified by the Ontario Government. SMEs may also be invited to conduct real-world demonstration testing using the government as a testing ground.
The overall objectives of the SBIC are to:
- Engage Ontario's start-ups and SMEs in solving pressing public sector challenges
- Provide SMEs with an opportunity to develop, test, and demonstrate their products to a real-world challenge
- Increase commercialization opportunities for SMEs through direct funding support and applied demonstration opportunities to prove the value of their innovations to domestic and global markets
- Provide a stronger footing for Ontario SMEs to compete domestically and abroad in both the public and private sectors
Full program overview and application.