Entrepreneurship Funding Programs

Funded by the Ontario Ministry of Economic Development and Growth, the Starter Company Plus and Summer Company grant programs are offered through the Richmond Hill Small Business Enterprise Centre to assist you in starting or growing your company.

Starter Company Plus

Are you looking to start up or scale up a company? Get funded with Starter Company Plus!

The Starter Company Plus program provides entrepreneurs aged 18 and over with tailored advice, mentoring and training to help you launch or expand your business. Additionally, you have the opportunity to receive a grant of up to $5,000.

Applications for the 2023 Starter Company Plus program are now closed. Please subscribe to our e-newsletter to stay up-to-date on our future programs and services.

Eligibility

18 years of age or older
A Canadian Citizen or Permanent Resident
Not employed full-time
Not currently enrolled in full-time education and not planning to return to school full-time in the next 3 years
Proposing starting a new company, expanding an existing company or buying a business in Ontario (excluding franchises, distributorships, wholesale, trade, commissioned sales, multi-level marketing ventures, not-for-profit and/or charities, strictly pay-per-click businesses, and single events such as music concert, fundraiser, sporting tournament, etc.)
Not controlled directly or indirectly by an individual who does not meet the eligibility criteria for the Starter Company Plus program
Prepared to commit to a minimum average of 35 hours a week to run the business
Prepared to commit to the monthly mentorship requirements for a minimum of 3 months
Prepared to complete a mandatory Business Training program
Not currently participating in any other self-employment or entrepreneurship training or financing programs offered by government funded organizations
Can demonstrate 25% cash or equivalent commitment to the business

Virtual Information Session

We will be hosting a one-hour Virtual Information Session at 10 a.m. on July 27. Hear from prior Starter Company Plus grant recipients who will share their personal experiences and offer tips on what to expect. To register for your spot click here.

Summer Company

Join us July 29 from 11 a.m. - 1 p.m. at Hillcrest Mall (in centre of the mall) for our Summer Company Business Showcase! Meet 10 local area students making the most of summer by harnessing their entrepreneurial spirit and running their own businesses.

Do you have an idea that you are super excited to bring to life or a business you are inspired start? Are you a student who is interested in learning what it would be like to be your own boss?

Get funded with Summer Company! Successful applicants get business education, 2 months of mentorship and up to $3,000 in funding.

To apply, you need a launch-ready business idea, a free summer, and a short business plan. This program is available for full time students between 15 - 29 years of age. To get started, please fill out this inquiry form.

Please note: Summer Company applications for 2023 are closed. Please sign up for our eNewsletter to stay informed about our next intake cohort in 2024.

Application Process

Complete the Inquiry Form (above)
Complete the Eligibility Application
If eligible, you will invite to an interview
Submit your application, as well as your business plan and cash flow forecast

Eligibility

Enrolled in an Ontario high school, college or university
Canadian Citizen or Permanent Resident
15 to 29 years old
Not currently running a business
Not currently employed and working more than 12 hours
Not enrolled in summer school for more than 12 hours per week
Not a past Summer Company grant recipient
Commit to an average of 35 hours a week to run your business

Centre for Local Innovation and Collaboration (CLIC)

The City of Richmond Hill has partnered with OCAD University to launch the Centre for Local Innovation and Collaboration (CLIC)! Funded by eCampus Ontario, this unique, design-driven centre for innovation is part of a broad-based approach to accelerating business growth and innovation.

CLIC exists to explore opportunities for local businesses to gain access to applied research and to leverage human-centred design expertise.

For more information visit: Richmondhill.ca/CLIC

Eligibility

18 years of age or older
A Canadian citizen or permanent resident
An Ontario registered business
Under 500 employees
Over 50% of staff located in Ontario
Prepared to work with OCAD researchers
Prepared to complete a mandatory Business Training Program
Intention to leverage creative technology, human-centered design, and applied research to create products/services that improve the lives of Ontario residents

Digital Main Street

The Digital Main Street Program funded by the Province of Ontario in partnership with the Ontario BIA Association seeks to help small main street businesses across Ontario improve their adoption of technologies to better promote themselves online, sell online and even run back-office processes online. Every business that wants to participate in the grant must first take an online assessment of their current technology use. Based on the assessment, the business will then develop a Digital Transformation Plan based on a template that will be provided which will detail their goals and what technologies they need to achieve those goals. To help put the plan into action, the business can then apply for the following grants:

CLOSED, but those who already entered application have until Feb 28, 2024 to finalize: Digital Transformation Grant - a one-time grant of $2,500 to help with the costs to implement digital transformation plan;
Grow Your Business Online Grant (CDAP) - up to $2,400 to help with the cost of adopting digital technologies;
CLOSED: Digital Service Squad Grant - providing one-on-one training, advisory and assistance to small businesses;
ShopHERE powered by Google - free .ca domain, $500 credit for eBay listing, free curated livestreams from General Assembly, Google's advertising spend match; 70% off QuickBooks online, free Neo Financial's loyalty program.

For more information, please Learn more about the Digital Main Street Program.

Digitalization Competence Centre

Digitalization Competence Centre (DCC) is a Government of Ontario initiative led by Ontario Centre of Innovation (OCI) to drive digital modernization of Ontario small and medium enterprises (SMEs). There are two program streams to support SMEs in the adoption and implementation of digital technology:

Digital Modernization and Adoption Plan (DMAP) - supports SMEs to understand and implement their organization's technology needs; up to $15,000 to develop a digital adoption plan.
Technology Demonstration Program - for companies that completed DMAP project and are looking to implement digital technology laid out in DMAP; up to $150,000 available.

For more information and to apply, visit Digitalization Competence Centre program page.

Freshworks for Startups

Freshworks is a leading maker of cloud-based customer and employee engagement software. With this innovative partnership, Richmond Hill startups can receive 90% off the first year on the Freshworks suite of products and priority access to the Freshworks startup program including events, resources, workshops, mentoring and much more.

To learn more about the program and apply please email rhsbec@richmondhill.ca.

Ontario Made Manufacturing Investment Tax Credit

The Ontario Made Manufacturing Investment Tax Credit is a 10% refundable Corporate Income Tax credit for eligible corporations on qualifying investments in buildings, machinery and equipment for use in manufacturing or processing in the province. An eligible corporation could receive a tax credit of up to $2 million a year.

Mentorship Opportunities

If you have business experience and expertise and a desire to help develop new and aspiring entrepreneurs, then we'd like to hear from you. Start mentoring with the Richmond Hill SBEC and you will have the opportunity to connect with entrepreneurs who are starting or scaling up their businesses.

Apply for group mentorship or one-on-one mentorship

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