FUNDING

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.

MAXIMUM ASSISTANCE to SME

Maximum financial assistance eligible under the program is 50% of approved Total Eligible Project Costs or up to $25,000 per SME, whichever is lesser in any given fiscal year.

PROGRAM APPLICATION: open

Contact our IAP specialist at info@ssmic.com

Proudly sponsored by:

INNOVATION ACCELERATor PROGRAM (IAP)

The Innovation Accelerator Program (IAP) provides up to $25,000 in funding at a 50% cost-share to eligible, growth-oriented SMEs located in the Algoma-Manitoulin region. The program supports strategic, high-impact projects that align with priorities such as technology adoption, commercialization, and market expansion to promote business growth and competitiveness. Eligible projects must focus on increasing capacity development and commercialization support to drive company expansion.

Building Blueprints for AI Adoption

waitlist is now open

Is a dynamic two-year initiative led by the Sault Ste. Marie Innovation Centre (SSMIC) in collaboration with the Northwestern Ontario Innovation Centre (NOIC), designed to help small and medium-sized businesses across Northern Ontario develop Artificial Intelligence (AI) plans for business growth. Through expert-led workshops, one-on-one mentorship sessions, and dedicated implementation funding, participating companies will gain the tools and strategies needed to adopt AI technologies that boost productivity, streamline operations, and drive long-term growth.

Program cohorts will soon be announced.

MAXIMUM ASSISTANCE to SME

Maximum financial assistance eligible under the program is 50% of approved Total Eligible Project Costs or up to $20,000 per SME, whichever is lesser in any given fiscal year.

PROGRAM APPLICATION: open

Contact our program coordinator at info@ssmic.com

Proudly sponsored by:

PUBLIC FUNDING

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.

ANGEL 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.