Triple-P Program

Program Objectives

The Triple-P program is designed to spur economic development by offsetting the cost of purchasing equipment or software related to the innovative commercial product, process, or service of the for-profit company in three categories:

Productivity
Prototype
Process improvements

This support could be applicable, but not limited to, projects that have the following outcomes:

  • Increased efficiency
  • Added production capacity
  • Reduced waste
  • Strengthened competitiveness
  • Entered a new geographic or product markets
  • New product development

The Triple-P Program will support up to 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

Eligibility 

  • The innovative applicant must be a for-profit entity, registered as a sole proprietor, partnership or corporation
  • The applicant must be located in the districts of Nipissing, Timiskaming, Parry Sound or Muskoka
  • The program is not intended to support, nor is it applicable to, businesses operating as distributors, resellers, or wholesalers.
  • Emphasis will be placed on applicants who demonstrate the potential to create jobs, increase revenue and grow the economy.
  • On-going operational project costs are not eligible.

Applications are subject to a monthly competitive review process (the last day of every month is the submission deadline).Applications must be received prior to incurring costs associated with the project and are subject to a monthly competitive review process. Projects will be reimbursed upon receipt of final invoice(s) and proof of payment to be completed within a 6-month time frame. Successful applications will be required to register as an IION client before receiving any funds and are required to fill out occasional surveys as a reporting requirement for up to five years.

How do I get started?

To ensure clarity on the program and it’s qualifying conditions, applicants are strongly encouraged to contact IION prior to applying. The Triple-P program has a continual intake process, with monthly reviews. The last day of every month is the submission deadline. Contact Matthew at: 705-845-0616, or email at 

 

Download the Triple-P-Application

 

 

SUPPORTED BY:

 

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