The Step Forward Entrepreneurs Program (SFEP) provides for-profit innovative companies with non-repayable funding to support projects that promote business growth and market expansion and are critical for the development and commercialization of new innovations.
Eligible companies must meet IION’s innovation mandate. Companies must have invented or refreshed a product, process or service by having a proprietary product, software or technology that they are commercializing or significantly refreshing a process through automation / robotics. More information on IION’s eligibility can be viewed here.
The SFEP supports projects in three categories. All project costs must be with a third-party contractor/vendor.
-
Market Growth & Expansion
-
Product Development
-
Productivity Enhancement
The SFEP will support 50% of eligible costs, before tax, at one of three funding levels:
-
Level 1: $5,000 grant for a minimum project spend before tax of $10,000
-
Level 2: $7,500 grant for a minimum project spend before tax of $15,000
-
Level 3: $10,000 grant for a minimum project spend before tax of $20,000
The SFEP is a competitive program. Applications are collected each month and will be reviewed by an external selection committee.
***Companies are eligible for one SFEP grant over the duration of the program.
