Regional Quantum Initiative in southern Ontario: 3. How funding works

3. How funding works

Project funding

All funding is project-based, meaning that it must result in outcomes linked to program and Government of Canada priorities. If a project receives approval, a contribution agreement will be executed with FedDev Ontario.

Funding amount

Project contributions are typically between $500,000 - $5 million. Exceptions may apply.

Matching requirement

Applicants must secure a minimum of 50% matched funding for eligible project costs.

Total government funding

Total government funding (including federal, provincial and municipal) for a project cannot exceed 75% of eligible non-capital costs and 50% of eligible capital costs.

Project duration

Funding can cover about five (5) years of eligible costs, starting no earlier than the application intake launch and no later than December 31, 2027.

Repayment terms

All contributions are interest-free and fully repayable. Repayment commences following a one-year grace period after the completion of the project. Repayment terms such as length and frequency of repayment will be determined at the contribution agreement phase.

All eligible costs, such as labour, expertise, talent, intellectual property, and equipment costs, must be reasonable and directly related to the eligible project activities.

Ineligible costs include those deemed not reasonable and/or not directly related to the eligible project activities, including the cost of amortization, refinancing of existing debts, and more. Refer to the Application guide for details on cost categories.

The amount of the awarded contribution will be based on the minimum amount required for the project to proceed, the extent to which other available funding sources have been leveraged, and the applicant's ability to repay the contribution.

Funding will be reimbursed based on costs incurred and claimed throughout the duration of the project.

Costs incurred before the application intake open, June 20, 2022, cannot be considered. Any project costs incurred after this date but before a contribution agreement is signed are at the applicants own risk.