The Rural Innovation Initiative Eastern Ontario (RIIEO) Local Stream provides non-repayable performance-based funding from $25,000 up to $100,000. Its purpose is to support and transition SMEs in local CFDC communities in expanding business growth and the adoption of new advanced business innovation processes.
Please contact your local CFDC office or click here for a complete listing of CFDC offices throughout Eastern Ontario.
RIIEO also provides a Regional Stream, administered by the Northumberland CFDC. It provides non-repayable performance-based funding of a minimum of $100,000 to accelerate the growth of SMEs who are scaling on the innovation track and provide benefits to multiple communities within Eastern Ontario. For more information or to apply, please visit the Northumberland CFDC website.
This initiative is made possible with funding from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) to support the transition and growth of traditional SMEs, manufacturers and communities into the new rural economy, driving direct investments by private companies in innovation capital producing aggregate local and regional effects.
SOFII provided funding for working capital to expand enterprise account sales and sales channels; grow and strengthen the customer success function; invest in new R&D initiatives that support sales and customer success objectives.
SOFII funding provided working capital to grow their customer service and engineering team, and to support their research in Artificial Intelligence and Machine Learning technology.
SOFII provided funding to scale the business; working capital to hire new developers and additional resources for selling and onboarding support.
SOFII provided funding for working capital for additional farming production, and to install advanced data tracking to improve yield; purchase advanced dehydration and grinding equipment to expand capacity; accelerate their BRC certification, a 3rd party food and safety standard required by the larger food companies.
SOFII provided funding for working capital to hire additional members for the sales team, and the customer support and product development team, maintaining a steady growth rate in the market.
SOFII funding provided working capital to increase staff in order to expand user engagement, broaden capabilities and scale up their solution to support many more clients and grow the supplier network.
SOFII provided funding for working capital to increase the sales team capacity, continue marketing efforts and hire engineers for API development.
SOFII provided funding for working capital to hire engineers especially data scientists, software developers and engineers with a background in machine learning. SOFII funding also allowed Hockeystick to continue marketing efforts related to the public database including content creation, multimedia design and social media and to target international opportunities including adapting their platform to different financial and regulatory environments.