Poll
Which topic are you most interested in?
Investments
Taxes
Insurance
Legal/Law
Privacy
Credit
Banking
Other

 
Link exchange
Are you interested in link exchange? Contact Us
Home » General
Adopting New Technologies? CME Provides $100K in Grant Support
Category :- General

Author :- Chris Casemore 
* Please rate and share the article if you find it interesting *

Posted on March 26, 2015, 6:59 pm
(3 Ratings)

The manufacturing industry demands continuous improvement. Developing countries are increasing competition through their lower wage rates and adoption of new technologies. These factors have had a significant impact on the Canadian manufacturing landscape, including food processors. As a result, the Canadian Manufacturers & Exporters (CME) association recently conducted a survey of over 800 businesses across Canada on their top issues; nearly 65% of respondents stated that they intend to increase their expenditures on machinery and equipment to stay competitive.

Advanced technologies allow Canadian businesses to stay competitive by streamlining and automating processes to improve throughput, costing, and product quality; CME has created the CME SMART Advanced Technologies for Global Growth program to support technology adoption amongst southern Ontario manufacturers. The program offers funding in two streams – the Advanced Technology Assessments stream, and the Advanced Technology Adaptation/Adoption stream.

CME SMART: Advanced Technology Assessments

CME will support multiple aspects of technology adoption. The first stream of CME SMART will cover up to 50% of eligible costs to a maximum of $15,000 for qualified professionals to examine a manufacturing process and make recommendations on advanced technologies to improve productivity and functionality.

CME SMART: Advanced Technology Adaptation/Adoption

Businesses that are ready to adopt advanced technologies can receive a grant for up to 35% of eligible expenses to a maximum of $100,000. These advanced technologies could include:

·      Capital equipment;

·      Additive manufacturing technologies (ie. 3D printing);

·      ICT technologies;

·      Robotics;

·      Automated packaging and material handling;

·      Nanotechnologies; and

·      Clean technologies.

The goal is to improve export expansion capabilities and the lifetime maximum that a business can receive funding through this round of CME SMART is $100,000.

 

Eligibility Factors & Getting Started with CME SMART

Applicants must be incorporated for at least 2 years and operate a manufacturing facility in southern Ontario with 15-1000 employees. Applicants must prove that the adoption of advanced technologies leads to significant improvements to export revenue and client base. CME states that they plan to support up to 200 businesses through the CME SMART funding program. To learn more about this program, please feel free to register for a free informational CME SMART webinar here: http://www.mentorworks.ca/events

Author Profile: Chris Casemore, Mentor Works Ltd.

Chris is the Director of Client Management & Development at Mentor Works Ltd., specializing in strategic planning through customized funding approaches. Mentor Works has helped hundreds of businesses across Canada discover and leverage funding to optimize their growth plans.


Site (source)  : http://www.mentorworks.ca/
Email to contact  : chris@mentorworks.ca
Contact Tel  : 2268080082
Facebook  : http://www.facebook.com/MentorWorks
Twitter  : http://www.twitter.com/ChrisCasemore
Rate this article   
Tagged Keywords: capital grants, business funding

Sort»
Ways to find the cheapest car insurance quote in Ontario
Car insurance is a hot topic in Ontario because car insuranc....
(1 Rating)
--------
How Home Insurance in Calgary Works
There are many reasons to get home insurance in Calgary. Fir....
(1 Rating)
--------
Comparing Term Life, Whole Life, and Universal Life Insurance
When looking for life insurance, determining which type best....
(1 Rating)
--------
Home Insurance in Edmonton – How to Find the Cheapest Rates
There are so many insurance companies on the Canadian market....
(1 Rating)
--------
5 Things You Must Be Ready to Pay for When Submitting a Home Insurance Claim
Risks associated with your home come in all possible shapes ....
(1 Rating)
--------
We do not like ads, banners, Google ads or any other kind of promotion. We promise to never put such ads on our site.
 
Web Proxy and Privacy Tools
Low fee VPN service (: 2012)

Contact us for more details

This site presents top Canadian financial articles about money, tax, personal finance, investments, legal matters, insurance and business. Readers can rate, comment, review and share the best Canadian articles and reports. Authors can submit and modify their articles in one of the best financial resource directory in Canada.


ABOUT THE SITE

AUTHORS/READERS