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Adopting New Technologies? CME Provides $100K in Grant Support
Category :- General

Author :- Chris Casemore 
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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
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Tagged Keywords: capital grants, business funding

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