There are many financial incentives and programs offered to city of Cambridge businesses and individuals.

Federal programs

There are a number of federal financial incentive programs available for Canadian businesses. The federal government has developed a Business Benefits Finder to assist entrepreneurs in finding the right programs and services to continue to assist them in their growth. Below is a sampling of some of the available support services, but not an exhaustive list. The Business Benefits Finder should be your company's first resource for available supports.

 

Business Development Bank of Canada

The Business Development Bank of Canada (BDC) is a federal Crown corporation. It supports entrepreneurs with a variety of financing programs and consulting services.

For more information, you can contact the BDC at (519) 571-6676.

Canada Foundation for Innovation

The Canadian Institute of Health Research innovation programs help fund health research in Canada.  The program helps the academic community network with Canadian companies.

Contact the Canadian Institute of Health Research at (613) 954-1968 or toll-free at (888) 603-4178, to learn more.

Canada Small Business Financing Program

This Canada Small Business Financing Program (CSBFP) makes it easier for small businesses to get loans by sharing risk with lenders.

To learn more, you can contact Industry Canada, Small Business Financing by email or toll-free at (866) 959-1699.

Canadian Commercial Corporation

The Canadian Commercial Corporation (CCC) helps companies sell their products to foreign governments, organizations and private-sector buyers.

For more information, contact the CCC at (613) 996-0034 or toll-free at (800) 748-8191.

Futurpreneur Canada Start-Up Financing Program

This program provides young entrepreneurs with mentoring, education, and start-up financing.

For more information, you can contact Futurpreneur at (866) 646-2922.

Communications Research Centre Canada

Communications Research Centre Canada is a federal centre for research and development in communications technology. It helps small and medium sized businesses grow through on site technology development.

Email the Communications Research Centre Canada or call (613) 991-3313 for more information.

Global Affairs Canada

Global Affairs Canada is responsible for Canada's international trade and export growth. The department provides consultations, data and other services through international trade centres.

Contact the department toll-free at (800) 267-8376 for more information.

Canadian Trade Commissioner Service assists with Investment into Canada 

Export Development Canada

Export Development Canada is a Crown corporation that works as a financial institute. It provides financing, insurance and other services to companies that export to or invest in other countries.

To learn more, contact Export Development Canada at (613) 598-2500 or toll-free at (800) 267-8510.

Federal Economic Development Agency for Southern Ontario

The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) funds programs supporting economic and community development, innovation and economic variation.

To learn more, you can contact FedDev Kitchener at (866) 593-5505.

 Tourism Relief Fund

 The Tourism Relief Fund, administered by Canada's regional development agencies (RDAs) and Innovation, Science and Economic Development Canada (ISED), supports tourism businesses and organizations to adapt their operations to meet public health requirements while investing in products and services to facilitate their future growth. 

To learn more or to apply, visit the Tourism Relief Fund portal.

 Jobs and Growth Fund

In southern Ontario, FedDev Ontario is investing $224 million to help job creators and the organizations that support them to future-proof their businesses, build resiliency and prepare for growth by transitioning to a green economy, fostering an inclusive recovery, enhancing competitiveness, and creating jobs in every corner of the country.

To learn more or to apply, visit the Jobs and Growth Fund portal.

 Aerospace Regional recovery Initiative

The Aerospace Regional Recovery Initiative (ARRI) will help the Canadian aerospace sector emerge from the pandemic with the capacity to compete on the global stage. The initiative will support small- and medium-sized enterprises (SMEs) in the following three objectives to:

  1. green their operations and adopt environmentally sustainable practices
  2. improve productivity
  3. strengthen commercialization while furthering integration into regional and global supply chains

To learn more or to apply, visit the ARRI portal.

 Canada Community Revitalization Fund

The Canada Community Revitalization Fund (CCRF) aims to help communities across Canada build and improve community infrastructure projects so they can rebound from the effects of the COVID-19 pandemic. With a national investment of $500 million over 2 years, the fund will support not-for-profit organizations, municipalities and other community groups, as well as Indigenous communities to:

  • build new community infrastructure and revitalize existing assets
  • bring people back to public spaces safely as health measures ease
  • create jobs and stimulate local economies

To learn more or to apply, visit the CCRF portal.

Industrial Research Assistance Program

The Industrial Research Assistance Program (IRAP) provides a range of advisory services and financial support to growing Canadian small and medium sized businesses.

For more information, you can contact the National Research Council of Canada by email or at (519) 746-3599.

National Research Council Canada

The National Research Council Canada is the federal government's leading organization for research and development.

Contact the National Research Council Canada to learn more.

National Science and Engineering Research Council of Canada

The National Science and Engineering Research Council of Canada (NSERC) provides funding for university-based research in science and engineering. It also encourages partnerships between educational institutions and Canadian companies.

For more information, contact the NSERC at (855) 275-2861.

Scientific Research and Experimental Development tax incentive

The Scientific Research and Experimental Development (SR&ED) incentive program encourages Canadian businesses to do research and development, which leads to new and advanced products and practices.

For more information, contact the Canada Revenue Agency's Tax Services Office at (416) 973-1717.

Strategic Innovation Fund

The Strategic Innovation Fund's (SIF) objective is to spur innovation for a better Canada by providing funding for large projects and national innovation ecosystems.

To learn more about this fund and the program criteria, please visit the Strategic Innovation Fund webpage.

 Sustainable Development Technology Canada Fund
The SD Tech Fund supports projects that are pre-commercial and have the potential to demonstrate significant and quantifiable environmental and economic benefits in one or more of the following areas: climate change, clean air, clean water and clean soil. Sustainable Development Technology Canada is a non-profit foundation that reports the Minister of Natural Resources.

To learn more, email Sustainable Development Technology Canada or call (613) 234-6313 ext. 354.

Provincial programs

There are also a number of provincial financial incentives programs to support Ontario businesses. The provincial government has developed a resource to assist business owners in finding programs and services to assist them in their growth. Below is a sampling of some of the available support services, but not an exhaustive list. The provincial resources portal should be your company's first resource for available supports.

 

Advanced Manufacturing and Innovation Competitiveness (AMIC)  

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.

For more information on available supports, deadlines and how to apply, please visit the AMIC webpage.

Southern Ontario Fund for Investment in Innovation

The Southern Ontario Fund for Investment in Innovation program supports growing and innovative small and medium-sized businesses in rural and urban areas. The program offers loans between $150,000 and $500,000 to support all challenges of growth.  The loans will help finance commercialization and development.

Contact the Western Ontario Community Futures Development Corporation Association for more information.

MaRS Investment Accelerator Fund

The MaRS Investment Accelerator Fund (IAF) is an early stage seed fund managed by the MaRS Discovery District. It is a part of the Ontario Centre of Innovation (OCI). The IAF helps Ontario technology companies in their early stages bring their products to market. The IAF also invests in and helps launch promising technology ventures.

You can contact the IAF toll free at (877) 862-4411.

New Exporters to Border States

The New Exporters to Border States (NEBS) is a practical course that covers the basics of exporting to the US. This includes practical export information and exposure to markets in US Border States.

To learn more, email the Ministry of Economic Development, Job Creation and Trade or call (416) 325-6665.

Ontario Employer Health Tax Exemption

The employer health tax program exempts employers from paying Employer Health Tax on the first $450,000 of annual payments.

Contact the Ministry of Revenue toll-free at (866) 668-8297 for more information.

Southwestern Ontario Development Fund (SWODF)

The Southwestern Ontario Development Fund provides support for projects and investments to businesses, municipalities and not-for-profit organizations for economic development in southwestern Ontario.

Ontario Centre of Innovation

The Ontario Centre of Innovation has many programs that prepare entrepreneurs for the market. This is through market analysis, technology validation, business plan development, and investment.

Contact the Ontario Centre of Innovation, at (416) 861-1092 or toll free at (866) 759-6014 for more information.

Infrastructure Ontario

The Infrastructure Ontario provides municipalities, universities and other partners with low-cost, fixed rate loans to build and renew infrastructure.

For more information, email Infrastructure Ontario or call (416) 212-7289.

Municipal programs
There are also a number of municipal programs and incentives to help support businesses and entrepreneurs in Cambridge.