Ontario BioAuto Council offers funding (July 01, 2007)

The Ontario BioAuto Council is inviting manufacturers in the auto, chemical and plastics industry to apply for funding on projects incorporating bio-based materials of all kinds.

“Biomaterials are experiencing strong growth around the globe…[with a] market estimated to reach $50 billion by 2015,” the Guelph, Ont.-based council said. “The new funding program will lead to global stature for Ontario-based companies, profitability and economic enhancement for the province of Ontario.”

The council received $5 million in the most recent Ontario provincial budget, and will contribute in the form of grants or loans ranging from $150,000 to $1 million. Companies are expected to fund 25 per cent of the project costs in cash and a further 25 per cent in-kind. Council funding will amount to 50 per cent. Only projects leading to a fully commercialized product by 2010 will be considered, the council said. Additionally, BioAuto funding is only available to for-profit companies located in Ontario; publicly funded research centres, government agencies, universities and colleges are not eligible applicants.

The “Request for Proposal” document is available on Canadian Plastics Industry Association (CPIA) website, at www.cpia.ca.