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Invest North – Launch

The Invest North Program is designed to boost economic growth in Northern Ontario by encouraging businesses to invest in transformative, strategic and complementary business development opportunities in Northern Ontario communities. The program will support productivity, innovation, business competitiveness, revenue growth, export capacity development, job creation and retention. The Launch program is designed specifically to assist with the launch of new businesses in Northern Ontario.

Funding

Funding is in the form of a conditional contribution of up to 50% of total eligible project costs to a maximum of $200,000.

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Eligibility

Businesses starting up operations in Northern Ontario.

Before you begin, check if you fall within the eligible region of Northern Ontario.

What is eligible?

Eligible projects, activities and associated costs include, but are not limited to:

  • Building construction
  • Upgrading leased spaces
  • Buying new or used equipment
  • Land development costs
  • Investments in IT and communications
  • Marketing new products or businesses (up to 20% of project costs or $75,000)
  • Third-party training costs (up to 20% of project costs)

Funding for each project is determined by the NOHFC Board of Directors, and limited funding is available. Not all projects meeting the criteria will necessarily receive funding.

What is not eligible?

  • Retail and service businesses
  • Operating costs, maintenance
  • In-kind contributions
  • Business restructuring/refinancing
  • Accommodation, food service businesses
  • Wholesale businesses
  • Business plans/studies
  • Operating lease assets
  • R&D
  • Land purchase/lease
  • Vehicles, boats, motors
  • Project/consulting/admin costs
  • Mineral exploration
  • Working capital, inventory
  • Internet/cell projects
  • Residential property improvements
  • Business acquisitions
  • Electricity generation projects

Process

Applications to the Northern Ontario Heritage Fund Corporation take the following path:

Apply

Submit your application and we’ll review it and make sure your project meets our program guidelines.

Evaluation

We’ll get some additional information on your project and review it in greater detail.

Decision

We’ll share our review with our board of directors, who will make the final decision on your application.

Documents

Download Brochure

Program Success Story

The Tasty Venture

How Fromagerie Kapuskoise transformed a residential home into a cheese factory.

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Help & FAQ

Are projects that develop land for re-sale or lease eligible under the Invest North program?2024-11-23T14:24:44-05:00

No, commercial and industrial land or building development is not eligible under the Invest North program. This includes things like:

  • Building infrastructure to lease or sell
  • Developing commercial or industrial land
  • Projects that only cover site servicing or site development costs
Are professional service businesses eligible for funding under this program?2024-11-23T14:50:16-05:00

Yes, professional service businesses, as defined by NOHFC, are eligible for funding under this program, where the new business is starting operations in a small community with no existing full-time service provider or no reasonable access to those services is available within an adjacent urban centre. Your proposal must demonstrate how the additional service offering will improve quality of life.

Are tourism businesses potentially eligible given that the Invest North – Launch program guidelines reference accommodation services as ineligible?2024-11-23T14:27:09-05:00

Many tourism businesses that offer accommodation may qualify for the program. This includes businesses that serve as destinations for visitors who stay for longer periods (like remote outfitters or family vacation resorts). However, businesses that mainly provide overnight stays for travelers (such as hotels and motels) do not qualify.

How long will I have to retain the assets acquired with NOHFC’s funding support to ensure I do not have to repay any of my funding to NOHFC?2024-09-10T11:37:24-04:00

If you want to sell or move assets funded by NOHFC outside of Northern Ontario, you’ll need to get NOHFC consent first. This rule applies for up to three years, and the details will be in your funding agreement.

My business is currently a hobby-business. Am I eligible to apply for launch funding to make my hobby-business to a full-time sustainable business?2024-09-09T18:53:09-04:00

Yes. NOHFC will consider an application to transition a hobby-business to a full-time sustainable and commercially viable business, if the owner plans to work at the business full-time.

What does NOHFC consider as a “new business” under the Launch Program?2024-11-23T14:50:31-05:00

NOHFC will consider businesses as new businesses if they have been operating for 6 months or less before they submit their initial application to NOHFC for funding.

Are beverage alcohol manufacturing companies, including spirit distilleries, breweries, wineries and cideries, eligible for support under NOHFC’s Launch, Grow or Locate programs?2024-09-10T12:12:44-04:00

No, beverage alcohol manufacturing companies are not considered eligible under NOHFC’s INVEST North – Launch, Grow or Locate programs. However, Ontario’s Ministry of Agriculture, Food and Rural Affairs has a number of resources available on their website in support of beverage manufacturing in Ontario.

If I receive NOHFC funding, can I access funding from other federal and provincial sources to finance the remainder of my project?2024-09-09T18:49:08-04:00

Combined federal and provincial government funding may not exceed 50% of eligible project costs.

Will I need to hire a lawyer?2024-10-30T14:42:25-04:00

In most cases, the decision to hire a lawyer rests with you. However, where NOHFC funding is provided by way of a secured loan or a secured loan and conditional contribution, you will need to hire a lawyer to represent you on the transaction. Your lawyer will need to provide a legal opinion to NOHFC and conduct certain other legal work required to complete the transaction.

Not sure what you’re looking for? Get in touch with our agents for a 1-on-1 conversation about your project.

2024-11-24T20:50:23-05:00
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