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Government Funding Opportunities

Government Funding Opportunities. Don Van Dyke Business Development Consultant Ontario Ministry of Economic Development & Trade. AGENDA. Where is Ontario? Life Science in Ontario Medical Devices in Ontario Direct Government Funding Ontario VC Fund Tax Savings & Rebates

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Government Funding Opportunities

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  1. Government Funding Opportunities Don Van Dyke Business Development Consultant Ontario Ministry of Economic Development & Trade

  2. AGENDA • Where is Ontario? • Life Science in Ontario • Medical Devices in Ontario • Direct Government Funding • Ontario VC Fund • Tax Savings & Rebates • Government Loans for Advanced Manufacturing • Public Offering Funding • Additional Resources

  3. Where is Ontario?

  4. Exceptionally Located • Ontario gives access to over 135 million consumers within 500 miles • NAFTA gives Ontario based companies easy access to the US market • Less than a 2-hour flight from major U.S. life science centers

  5. Biopharmaceuticals Medical Equipment Healthcare IT Life Science in Ontario

  6. Life Science in Ontario • Pharmaceuticals • 16,250 employees • Includes global giants such as AstraZeneca, Bayer, Eli Lilly, GlaxoSmithKline and Pfizer • Revenues of more than $7 billion • Medical devices • 22,000 employees • 600+ companies • Revenues of $4 billion-plus • Biotech • 5,200+ employees • 140+ companies, more than any U.S. state except California or Massachusetts, including global giants such as Amgen, Genzyme and Sanofi Pasteur • Revenues of more than $2.7 billion

  7. Medical Devices in Ontario • Employs 22,000 people • Includes more than 600 Device companies >60% of Canada’s Device industry • Includes GE Medical Systems, Siemens, Abbott Point of Care (iSTAT) and Johnson & Johnson Medical Products • Includes Ontario-founded MDS Sciex, SciCan, CME Telemetrix & Tm Bioscience • Revenues greater than $4 Billion

  8. Where is Ontario? • Life Science in Ontario • Medical Devices in Ontario • Direct Government Funding • Ontario VC Fund • Tax Savings & Rebates • Government Loans for Advanced Manufacturing • Public Offering Funding • Additional Resources

  9. Ontario’sNext Generation of Jobs Fund NGOJF is a $1.15 billion program over five years This compares favorably to U.S. State programs Part of a larger “Innovation Agenda” of $3 Billion over 8 years The fund supports innovative investments in technology, research, development and commercialization across industries 9

  10. Next Generation of Jobs Fund - 3 Programs

  11. Cash Flow Project Investment Commitment - $100M. NGOJF Grant - $15M (15%)

  12. Where is Ontario? • Life Science in Ontario • Medical Devices in Ontario • Direct Government Funding • Ontario VC Fund • Tax Savings & Rebates • Government Loans for Advanced Manufacturing • Public Offering Funding • Additional Resources

  13. $205-million Ontario VC Fund • Ontario’s contribution to the fund is $90 million. • Between 80 per cent and 100 per cent of the capital invested in Ontario VC funds. • Up to 20 per cent of the capital will be available for direct co-investments in companies. • The $205 million Ontario Venture Capital Fund is the biggest fund of its kind in Canada

  14. Where is Ontario? • Life Science in Ontario • Medical Devices in Ontario • Direct Government Funding • Ontario VC Fund • Tax Savings & Rebates • Government Loans for Advanced Manufacturing • Public Offering Funding • Additional Resources

  15. Ontario has broad definition of R&D New product development Development of new or improved materials Manufacturing process improvement

  16. Tax Savings for R&D in Ontario • Ontario’s provincial tax credits, combined with Canadian federal tax credits can cut the cost of a $100 R&D expenditure to less than $44 • Every dollar is deductible, not incremental • Not just tax relief • Refundable cash benefit of 30 – 45% • No revenue stream required • $3 Million in R&D spending gets a check from the government of up to $1,350,000 • These R&D tax credits are the most generous of any G-8 nation

  17. Tax Savings for R&D in Ontario

  18. Where is Ontario? • Life Science in Ontario • Medical Devices in Ontario • Direct Government Funding • Ontario VC Fund • Tax Savings & Rebates • Government Loans for Advanced Manufacturing • Public Offering Funding • Additional Resources

  19. Advanced Manufacturing Investment Strategy - AMIS - A $500 million incentive loan program Targeted at innovative activities in advanced manufacturing: • Industrial R&D • Design, prototyping and engineering • New or advanced materials and products • Advanced manufacturing processes • Technology innovation • Robotics/software development • Waste reduction or energy conservation

  20. AMIS Loans • Loan of up to 30% of eligible project costs (max $10 million) • Provided at Ontario’s cost of borrowing plus 1% • Repayable loans are interest free for up to 5 years provided the firm meets milestones and performance targets • The loan must be secured and the principal repaid, but the terms are negotiable including term length

  21. Where is Ontario? • Life Science in Ontario • Medical Devices in Ontario • Direct Government Funding • Ontario VC Fund • Tax Savings & Rebates • Government Loans for Advanced Manufacturing • Public Offering Funding • Additional Resources

  22. Public OfferingsToronto Stock Exchange (TSX) TSX is one of the best markets in the world for raising public equity capital • 2nd in the world by number of listed public companies • 5th in the world in total equity raised • 8th in the worldby total listed company market capitalization

  23. TSX Group Niche Phase III/ Regulatory Approvals Pre-Clinical Phase I Phase II TSX Venture Candidates AIM Candidates TSX Candidates NASDAQ Candidates

  24. Where is Ontario? • Life Science in Ontario • Medical Devices in Ontario • Direct Government Funding • Ontario VC Fund • Tax Savings & Rebates • Government Loans for Advanced Manufacturing • Public Offering Funding • Additional Resources

  25. Additional Resources • Business Immigration Services • Personal consultations, networking opportunities, and introductions to other service providers. • Success Stories http://www.2ontario.com/bi/bi_successstories.asp • Multinational Employee Transfer Guide • Business Start-up Resources • Canada-Ontario Business Service Centre • Small Business Enterprise Centres • Streamlined on-line business registration

  26. Additional Resources • R&D Program • Export Alliance • Information Exchange • Education Program partnerships • MAT partnerships • MAT funding opportunities • How to: Roadmaps (i.e. Competitive Intelligence and Regulatory approval)

  27. Don Van Dyke Raleigh, NC Business Development Consultant Ontario Ministry of Economic Development & Trade dvandyke@nc.rr.com (919) 345-2838

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