The Automotive Supplier Competitiveness Improvement Program (ASCIP) is an Ontario government funding program that supports automotive parts suppliers’ capital investment initiatives. ASCIP grants support projects that help businesses increase their productivity, competitiveness, and innovation to further support Ontario’s automotive sector.
The program provides eligible automotive business with up to 50% coverage of project expenses to a maximum $100,000 in Ontario small business grants. Manufacturers can use funding contributions to cover project-related travel costs, hardware and software upgrades, and new/upgrades equipment.
The upcoming application deadline for the ASCIP program is on Tuesday, November 7, 2017 at 2:00pm ET.
Automotive Supplier Competitiveness Investment Program Funding for Ontario Auto Manufacturers
The Ontario Centres of Excellence (OCE) and Automotive Parts Manufacturers Association (APMA) have co-created the Automotive Supplier Competitiveness Improvement Program to support manufacturer’s capital investment initiatives. In addition to funding, the program also provides businesses with access to mentorship opportunities with Ontario’s automotive industry leaders. ASCIP aims to support continuous improvement projects that increase small and medium-sized business’ productivity and competitiveness.
Eligible candidates may receive up to 50% coverage of project costs to a maximum contribution of $100,000 in Ontario automotive grants.
ASCIP has two main funding streams which include:
- Stream 1 – Technology Projects: Eligible businesses are encouraged to adopt new software or hardware, such as Enterprise Resource Planning (ERP) systems. This stream also helps applicants offset the cost of training employees how to use new software and equipment.
- Stream 2 – Mentorship Projects: Eligible businesses will receive feedback on business operations to develop and implement a growth-oriented plan. This stream provides executives with one-on-one learning opportunities to address specific industry or growth barriers.
ASCIP Business Eligibility Requirements
To apply for ASCIP grants, eligible applicants must ensure they are:
- An incorporated Canadian business with established manufacturing operations in Ontario; and
- Employing less than 500 workers or earning less than $1,000,000 in global revenue; and
- Generating 50% of the company’s annual revenues via through Canada’s automotive industry.
Types of Projects Eligible to Receive ASCIP Grants
The Automotive Supplier Competitiveness Improvement Program supports innovative manufacturing projects that increase a business’ competitiveness by improving internal practices and processes. Ontario small business grants are typically awarded to projects that:
- Improve the applicant’s productivity levels, innovation, and global competitiveness;
- Adopt new automotive technologies and processes;
- Position the business to be more responsive to emerging market trends; and
- Enhance product life-cycles by improving equipment runtime, energy consumption, technology, and/or sales revenues.
Automotive suppliers can download Mentor Works’ free white paper to discover the Top 4 Trends in the Canadian Automotive Sector.
Recent ASCIP Funding Success Stories
ASCIP supports Ontario automotive manufacturers by providing government grants to reduce the cost of performing continuous improvement projects. The following project examples have successfully leveraged ASCIP grants:
Apply to the Automotive Supplier Competitiveness Improvement Program
Interested businesses can get started by completing OCE’s online application. Eligible candidates must submit project proposals and required documentation prior to the intake deadline. Therefore, businesses are advised to begin planning their application well ahead of time. All applications must be submitted to the program by 2:00pm ET on Tuesday, November 7, 2017.
Contact Mentor Works to discuss your eligibility for ASCIP grants. Our team of Government Funding Planners™ can provide application support to accelerate your company’s funding process.
Learn More About ASCIP Automotive Grants
This post originally appeared on Mentor Works. Mentor Works helps established for-profit companies find and leverage Canadian business grants and loans.