The Southern Ontario Fund for Investment in Innovation (SOFII) is a program offered by the Federal Development Agency for Southern Ontario. It offers interest-bearing loans of between $150,000 and $500,000 to companies with between 50 and 500 employees to advance innovative projects in knowledge-based industries. The fund is targeted at high-growth, innovative Small and Medium-sized Enterprises (SMEs) in rural and urban communities. The loans are intended to help finance late stage commercialization, new product or service development, new applications or markets and development or implementation of new processes or technologies.
Be based in Southern Ontario*, employ or likely to employ between 50 and 500 employees within the next three years, in a “knowledge-based” industry (including but not limited to pharmaceuticals, health biotech, new materials, telecommunications, information technology, software, medical equipment, and avionics).
Interest-bearing loans between $150,000 and $500,000. Company must be able to provide matching financing and demonstrate the loan is not replacing commercial financing (i.e. that the company was unable to obtain adequate and reasonable financing from other sources).
More information can be found online: SOFII WEB site
Wilson Cook Associates can assist with applications for this program. If interested please contact us at Wilson Cook Associates
* Includes Ottawa, Kingston, and Toronto; for a full list of regions, see FedDev Ontario Regional List