Recognizing the role that government can play in building an innovation-driven economy, the Government of Ontario has introduced the Small Business Innovation Challenge (SBIC) to support the growth of high-potential, technology-driven small- and medium-sized enterprises (SMEs) in the province.
Under an exciting new partnership, Ontario Centres of Excellence and the Government of Ontario are helping SMEs launch their innovations from an idea stage to become globally competitive products and services. The new SBIC Program uses public sector challenges as a platform for inspiring SMEs to develop and test innovative technology solutions.
OCE is delivering Phase 1 and Phase 2 of the SBIC:
Phase 1 – Feasibility Stage: OCE supports SMEs to establish the technical merit, feasibility, and commercialization potential of their proposed innovative solution in response to challenges identified by participating Ministries (“Champion Ministries”) of the Government of Ontario.
Phase 2 – Product Development and Demonstration Stage: OCE supports SMEs to develop, test and demonstrate their innovative products and solutions.
SMEs can enter the Program at either Phase depending on the technology readiness level of their innovative solutions.