Skip to main content

The Globe and Mail

Need a government grant or private financing? Search gets simpler

Decentralized administration makes it difficult for business in Canada to find government incentives and financing, says Teri Kirk of The Funding Portal.

iStock

From startups to multinationals, all businesses face the same challenge at some point in their growth trajectory: finding and securing money to fund a project, a large contract or a strategic move to drive the business to the next level.

Teri Kirk, a Toronto entrepreneur whose previous ventures involved helping companies navigate complex legal and insurance processes, recognized this universal challenge and decided to come up with a solution to simplify business financing: The Funding Portal, a Web-based service where businesses can find and apply for government or private funding.

"The portal provides information on more than 7,000 funding sources online representing approximately $30-billion in funding per year," explains Ms. Kirk, who has a law degree from York University's Osgoode Hall Law School in Toronto. "It's an aggregator in some sense."

Story continues below advertisement

To help businesses increase their chances of getting financing, the Funding Portal also offers one-on-one support services.

"We have 85 experts at the Funding Portal who will help you with everything, from responding to your questions to assisting you with grant writing and polishing your application," Ms. Kirk says.

"We have a very specialized area of expertise that very few companies have, other than large public companies that tend to go after government funding on a repetitive basis. In fact, out of the more than one million businesses in the country, only about 30 have this type of in-house expertise."

Canada has the world's second-highest level of government incentives and financing for business, Ms. Kirk says, yet getting access to funds is harder in Canada than in any other country. One reason for this difficulty, she says, is the decentralized administration of government funding programs, even within each level of government.

About 4,500 of the funding sources on the portal are government programs while 2,500 are private sources. Outside of the Funding Portal, each of these programs typically reside on a separate website, with unique phone numbers and e-mail addresses, Ms. Kirk says.

Reviewing all these funding sources to find the right match can take weeks. At the Funding Portal, it takes about 30 seconds, thanks to a proprietary Find It search engine – free to business users – that identifies the most suitable programs based on various data points such as province and sector.

"It is onerous for anyone – whether you're a small business entrepreneur or a CFO of a big company – to try and find a program that's a good match for your business, and many just find it too complex to apply," Ms. Kirk says. "Our goal is to try and make businesses aware that this money exists, to help them quickly find the right funding program, and to guide them through the application process."

Story continues below advertisement

More than 19,000 companies a month visit the Funding Portal. Some come only to use the free search engine, but many go on to hire the Funding Portal to help them with their application, says Ms. Kirk.

The company charges a flat fee, based on a tiered fee schedule, for government program applications. For private financing the Funding Portal works on a contingency basis.

The company's application success rate is 80 per cent, Ms. Kirk says.

"Without the Funding Portal, it's an 80-per-cent failure rate because most of them don't even get to the compliance stage," she says.

The Funding Portal also provides data analytics on financing. Buyers of this product include banks, venture capital firms and law firms, she says.

While many funding programs target startups and small businesses, there's no shortage of funding opportunities for medium-sized and large businesses, Ms. Kirk adds. Her company just released a report listing the top 500 recipients of government funding in Canada. Recipients include corporate giants such as Cisco Systems Canada Co. and Pratt & Whitney Canada Corp.

Story continues below advertisement

"The average grant for the first 100 companies on the list is $7.2-million, non-repayable," Ms. Kirk says. "It's not just little startups and small technology companies getting $100,000. It's aerospace, clean technology, food processing – large operations that keep hundreds of people employed and contribute to our communities."

Running a business is complex enough, Ms. Kirk says. Finding and applying for funding shouldn't be.

"There's a lot of unnecessary complexity, especially on the government side," she says. "The Funding Portal makes it all straightforward and simple."

View a table of the Top 50 companies that received Canadian government funding

The full list of 500 companies is available for purchase.

This table is a ranking of the top 50 Canadian organizations that received government funding in 2016 sorted by total amount received.

The full list of 500 companies is available for purchase.

Top 50 Report on Business - The Funding Portal

RankCompany name$ AmountDate of fundingIndustry sectorFunding Program or TypePurpose for funding
1FCA Canada Inc. (Chrysler)85,800,0006/15/2016ManufacturingJobs and Prosperity FundInnovation
2AE Côte-Nord Canada Bioenergy Inc.76,500,0007/13/2016CleantechSD Tech Fund; Investments in Forest Industry Transformation; Investissement QuébecInnovation
3Enerkem Alberta Biofuels LP67,100,0003/4/2016CleantechSD Tech Fund; Western Innovation InitiativeInnovation
4Bombardier Inc.54,150,00010/11/2016ManufacturingTechnology Demonstration Program; Industry-Academic R&D CollaborationInnovation
5MDA Systems Ltd.54,000,0003/31/2016TelecomContributionTechnology Demonstration
6Tata Steel Minerals Ltd.50,000,00011/1/2016Mining and Natural ResourcesLoanGrowth
6IAMGOLD Corporation50,000,0006/23/2016Mining and Natural ResourcesLoanGrowth
8Calfrac Well Services46,400,0009/26/2016EnergyHeritage FundInnovation
9TransAlta Renewables45,900,0009/26/2016CleantechHeritage FundGrowth
10C.T.M.A. Traversier Ltée43,179,2215/5/2016TransportationContributionOperations
11Produits Kruger39,500,0007/25/2016ManufacturingLoanGrowth, Export
12Sonaca Montréal Inc.23,250,0007/11/2016ManufacturingLoan; Quebec Economic Development Program; NRC-IRAPEquipment
13Nemaska Lithium Inc.16,220,0004/5/2016Mining and Natural ResourcesTechnoclimat; SD Tech Fund; NRC-IRAPInnovation
14Fruit D'or inc.15,654,2502/12/2016AgricultureAgriInnovation; Loan; NRC-IRAPInnovation
15Hanwha L&C Canada Inc.15,000,0009/26/2016ManufacturingInvesting in Business Growth and ProductivityInnovation
16AP&C Revêtements et poudres avancées (AP&C)13,753,0007/15/2016ManufacturingQuebec Economic Development Program; Loan; NRC-IRAPInnovation
17Vitalus Nutrition Inc.13,500,0003/30/2016AgricultureAgriInnovation; Western Innovation InitiativeInnovation
18Nsolv Corporation13,000,0003/18/2016CleantechSD Tech FundInnovation
19General Fusion Inc.12,748,5603/18/2016CleantechSD Tech FundInnovation
20ArcelorMittal Tailored Blanks Americas Ltd.12,726,7603/23/2016ManufacturingAdvanced Manufacturing Fund (AMF)Innovation
21Xplornet Communications Inc.12,547,5808/31/2016TelecomContributionEquipment
22Acadian Wild Blueberry Co12,000,00010/17/2016AgricultureLoanGrowth
23Bay Ferries Limited11,434,73207/03/2016TransportationContributionOperations
24TM410,928,9001/20/2016CleantechLoan/Contribution; NRC-IRAPInnovation
25Comet Biorefining Inc.10,890,0003/18/2016CleantechSD Tech FundInnovation
26Parrish & Heimbecker Limited10,000,0003/31/2016AgricultureAgriInnovationInnovation
26SBI BioEnergy Inc.10,000,0003/15/2016CleantechMethane ChallengeInnovation
28Nexolia BioÉnergie9,825,0006/27/2016CleantechLoanGrowth
29Pravala Networks Inc. and Pravala Inc.9,742,5003/31/2016TelecomContributionInnovation
30Produits Forestiers Arbec8,700,0006/6/2016ManufacturingLoanEquipment
31Eeyou Communications Network8,316,4909/20/2016TelecomContributionInnovation
32Mecaer Amérique8,000,0007/11/2016ManufacturingLoanInnovation
33Integrity Tool & Mold Inc7,999,8385/12/2016ManufacturingSouthwestern Ontario Development Fund (SWODF)Growth
34Manitoba NetSet Ltd.7,999,6842/10/2016TelecomContributionInnovation
35Saltworks Technologies Inc.7,933,50011/2/2016CleantechWestern Innovation Initiative; SD Tech Fund; NRC-IRAPInnovation
36TUGLIQ ENERGY CO.7,800,0005/8/2016EnergyContributionEquipment
37CO2 SOLUTIONS INC.7,747,0003/16/2016CleantechContribution and SD Tech FundInnovation
38Loop Energy Inc.7,650,0003/18/2016CleantechSD Tech Fund; NRC-IRAPInnovation
39Raufoss Canada7,000,0007/22/2016ManufacturingLoanEquipment
40Elevation Pictures Corp.6,239,0102/19/2016ArtsGrantOperations
41Aeponyx Inc.6,107,5639/26/2016CleantechSD Tech FundInnovation
41Farmers Edge Inc.6,107,5639/26/2016CleantechSD Tech FundInnovation
43Pine Cliff Energy6,100,0009/26/2016EnergyHeritage FundGrowth
44Mines de fer Champion limitée6,000,0004/12/2016Mining and Natural ResourcesLoanGrowth
44Northern Harvest Sea Farms Inc6,000,00012/5/2016AgricultureGrantGrowth
46Terrestrial Energy Inc.5,739,1673/18/2016CleantechSD Tech FundInnovation
47RAB Energy Group Inc.5,600,0003/23/2016ManufacturingContributionOperations
48Opus One Solutions Energy Corporation5,422,5009/26/2016CleantechSD Tech Fund; NRC-IRAPInnovation
49Commstream Gigalinks Inc.5,016,00011/14/2016TelecomContributionInnovation
50Technologies Orbite inc.5,000,0006/6/2016Mining and Natural ResourcesLoanOperations

© 2017 The Globe and Mail Inc. and The Funding Portal Inc. All rights reserved.
www.thefundingportal.com and www.globeandmail.com
Reproduction or distribution is prohibited without express permission of The Globe and Mail Inc. and The Funding Portal Inc.
The information contained in this spreadsheet are from sources that were assumed to be accurate at the time of production

Report an error
Comments

The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

We’ve made some technical updates to our commenting software. If you are experiencing any issues posting comments, simply log out and log back in.

Discussion loading… ✨