Offering more than just Business Loans

Ignite100 was an Innovation Challenge open to businesses in the Peterborough, Ontario region to compete for significant funding opportunities that support business expansion and growth.

Ignite100 was created to inspire and assist local business expansion. This was an initiative for Peterborough organizations that have been in business for more than 2 years. It is also open to any company that is willing to start a venture in the region.

The Scale Up Pilot Program was created to fill the support gap for business owners that were past the startup stage and needed support on complex growth in their business.

The program was led by Diane Richard, President at both Diatom Consulting and Professional Training Inc. as well as previous board member with Community Futures Peterborough. Six businesses were hand-picked to take part in the program.

The program allowed business owners to learn from each other as they worked through modules focused on financial management, supply chain best practices, people management, crisis management, organization design and good governance policies.

Many small business owners have a static website and do not currently have an online selling capability. During the Covid-19 lockdown, businesses have had to either close down entirely, or reorganize themselves to offer products/services online. Those that are not already selling online have been at a disadvantage and could use assistance, both financially and educationally, to adapt to online selling.

This program aided local businesses in adding e-commerce functionality to their existing website.Eligible projects were $10,000 or less in total. Funding was for a non-repayable contribution of up to 50% of the total project costs, to a maximum of $2,500. Matching funds, by the applicant, was required.

We also offered a series of workshops including:

• Developing a business plan – especially with a focus on rebounding from the lockdown
• Developing a marketing plan –especially digital; focus on limited budgets; gaining insight into the client’s target market; addressing the need for a social media strategy; timeliness is crucial
• How to set up the back end of their website to enable e-selling
• Setting up the financial and logistical details of e-selling
• Choosing which products and/or services to sell and determining/posting their prices
• Choosing a fulfillment method (how to get the purchases to the customer- who would pick, pack , and deliver)
• Choosing how/where your customers can order to ensure that you are notified (client’s own website, via Shopify; Facebook business page using “add products”; Google listing using “create products”; or links in emails)
• Determine policies regarding returns and refunds
• Increase customer service capacity to deal with questions from increased traffic to the online store
• Ensuring that the newly developed/enhanced website reflects quality content is imperative.

Rural Innovation Initiative Eastern Ontario was a non-repayable performance-based fund from $25,000 up to $100,000 transitioning SMEs in the Community Futures Peterborough catchment area to expand business growth and adoption of advanced business innovation processes.

Eastern Ontario Innovation Initiative, made possible with funding from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), supports the transition and growth of traditional SMEs, manufacturers and communities into the new rural economy, driving direct investments by private companies in innovation capital producing aggregate local and regional effects.

Innovation capital is investment in Industry 4.O, new or next generation equipment, technology, products and processes that lead to business growth, access to new markets and investment in people (job creation).

Supported projects will strengthen competitiveness, productivity, business growth, process innovation, new market access, creation and retention of employment opportunities, the re-skilling of the industrial workforce, incremental sales and increased profitability, and as a result, diversify and transform our local communities and economy.

Projects will demonstrate sustainability, drive prosperity and job creation/sustainment through innovation, research and development, commercialization, and business practices that work to position the region for global competitiveness, export markets, and economic diversification.

To date, more than $80 million has been invested through the EODP on more than 7,600 business and community development projects.

The application intake for the Eastern Ontario Development Program has ended for 2018/2019 fiscal.

View Year-end Eastern Ontario Development Program summary.