Climate change is one of the most significant global challenges humankind has ever faced. To overcome it, a variety of solutions will need to be implemented across the world. Clean technologies (cleantech) comprise the most promising solutions so far; as technologies are developed and deployed, carbon emissions decrease and the effects of climate change lessens. To curb climate change effectively, cleantech will need to be developed and deployed globally.
The Government of Ontario recognizes there are opportunities to use technology to combat climate change, which is why the Ontario’s Solutions 2030 Challenge was introduced. Solutions 2030 is a three-phase competition that will award highly-innovative clean technology developers with funding to further research, develop, and commercialize climate change solutions. Ideal projects will support reductions to greenhouse gas (GHG) emissions and be scalable enough for wide-scale implementation.
During each of the three rounds, participating firms will be able to access government grants (up to $250k, $750k, and $2M respectively); this will help secure the capital needed to bring a concept to reality. Although only 20 companies will be invited to participate, other cleantech grants and loans are available to support a company’s research and development projects.
Ontario’s Solutions 2030 Challenge application packages may be submitted now through September 22, 2017.
Ontario Solutions 2030 Challenge Supports Cleantech Research
Despite the importance of clean technologies to our global society, developers of cleantech are having difficulty securing traditional financing through banks and other lending services. Because of this, fewer clean technologies are developed in Canada, and other global businesses take the opportunities that could otherwise be seized by Canadians.
The Ontario’s Solutions 2030 Challenge is a guided competition where cleantech innovators may access capital to research, develop, and lead technologies through to market readiness. By providing cleantech investment at each stage of the project, companies will be able to access more resources and put together a superior product that has the potential for worldwide adoption.
How does the Ontario Solutions 2030 Challenge work?
The Ontario Solutions 2030 Challenge is a 3-round competition-style cleantech development program where innovators can realize their cleantech concept. At each phase of the competition, innovation teams may submit application materials and pitch the technology to an external review panel. After all innovation teams have pitched, a select number will be invited to the next round of the competition, which brings the potential for additional funding contributions.
- Phase 1 – Concept: 20 innovators will pitch concepts; 8 will receive up to $250,000 in Ontario government funding.
- Phase 2 – Prototype: 8 innovators will build a lab-scale technology prototype in a controlled environment; 4 will receive up to $750,000 in Ontario government funding.
- Phase 3 – Demonstration: 4 innovators will demonstrate their technology in partnership with an Ontario industrial/manufacturing organization; the top innovation will receive up to $2 million in Ontario government funding.
Ontario’s Solutions 2030 Challenge: Eligibility of Cleantech Innovation Teams
Challenge applicants must form innovation teams to lead cleantech concepts through to a market-ready solution. Innovation teams must:
- Be comprised of one or more individuals, academic institutions, and companies;
- Designate a ‘team lead’ to act as the primary point of contact through the entry, development and evaluation processes;
- Be able to commercialize the proposed technology in the Ontario marketplace;
- Establish an Ontario business with registered business number before receiving any funds from the Solutions 2030 Challenge; and
- Be in good financial and reporting standing with OCE.
Please Note: All eligible cleantech innovation teams must also be able to match (provide 50%) of project expenses, with the other 50% of funds flowing from Ontario Centres of Excellence (OCE).
Cleantech Project Eligibility
The Solutions 2030 Challenge is open to technologies that address the needs of Ontario manufacturers and results in quantifiable GHG reductions in their value chain. Eligible technologies could include, but are not limited to:
- Carbon capture and sequestration or conversion;
- Products developed from carbon dioxide or other greenhouse gases;
- Feedstocks for industrial processes or combustion;
- Efficient processes and/or production methods;
- Fleet management; and
- Any other technology with the potential to achieve large, measurable GHG reductions.
How to Apply for Ontario’s Solutions 2030 Challenge
All Phase 1 applications for Ontario’s Solutions 2030 Challenge must be submitted by September 22, 2017. To apply, innovation teams must register and submit an online application.
To discuss how Ontario’s Solutions 2030 Challenge could improve your upcoming cleantech research project, please contact Mentor Works. We can discuss your upcoming project and help identify potential sources of funding to improve cash flow and accelerate the launch of new products.
This post originally appeared on Mentor Works. Mentor Works helps established for-profit companies find and leverage Canadian business grants and loans.