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Thinking of developing a digital media project but don’t know how to finance it? Here’s what you can do:
Ontario’s digital actors may choose between various programs for financial assistance to support their development and business project launching. Ontario Creates offers five different programs to stimulate digital media projects and cultural companies’ growth:
In this article we help you navigate through the different programs available to enable you to finance a digital media project and provide you the best chances of success to your project.
Every stream’s goal is to support digital media content creation and development that promotes Ontario’s economy and expansion through funding. From these shared objectives, each program has specific requirements and purposes that address different stages in a project development and in the companies’ life.
This program is structured around two categories, themselves divided into two sub-categories. Thus, there are four different ways to apply to this grant.
Both categories are divided between Interactive Content and Video Content.
Two types of companies can apply to these programs:
An established company must meet one of the three affirmations and all additional points:
The funding consists of a non-refundable contribution of up to 50% of eligible expenses, with a maximum of $50,000 for Concept definition and $300,000 for Production stream.
This program was created to strengthen and support the international activities of Ontario creative businesses. The funding is available for sales trips and international market events that support company growth and produce measurable business and market development results.
The eligibility criteria are identical to those of the concept definition and production program with some more requirements concerning the representatives that will be sent abroad for sales trip and/or market events. Funding can accommodate up to three representatives per company and per activity. They must be full time employee or owner, Ontario residents, and at least one of them must have engaging power for the company decisions.
The funding consists of a non-refundable contribution of up to 50% of eligible expenses, with a maximum of $15,000. Applicants can receive up to $15,000.
The Discoverability and Commercialization program, previously the Marketing Support program, will help companies increase their visibility. You can apply to this program as a complement to the IDM Fund Production. The application should be submitted 6 months before and up to 16 months after the product public launch. This particular grant will support the financial viability of your project once you start selling to an audience.
Consequently, the criteria are the same as the IDM Fund production, plus you should demonstrate that the Discoverability and Commercialization program will support the public engagement and therefore result in measurable gain for the company.
The funding consists of a non-refundable contribution of up to 50% of the eligible expenses, between $15,000 and $50,000.
The Industry Development program is for trade and event organizations who wants to initiate events and activities that support the cultural media industry in Ontario. Your project should support the book, magazine, film, television, or interactive digital media sector and it should demonstrate clear outcomes on sales and innovation. Ontario Creates can assist the organization in all stages of the event set up from the preparation, planning and delivery of the activity.
The Industry Development program is divided into two streams:
Your project should take place in Ontario and/or have significant benefits for Ontario companies. Moreover, Ontario Creates expects positive outcomes from the project such as a large number of Ontario participants, new business leads and opportunities generated, and an increase in the generation of sales value, pre-sales and licensing agreements.
The funding consists of a non-refundable contribution of up to 75% of the event budget. Eligible activities must expand skills, business capacity, market share, sales and innovation