Receive a Grant up to $100,000 for Installing Machine Monitoring
A partnership between the Automotive Parts Manufacturers Association (APMA) and the Ontario Centre of Excellence (OCE) created the Automotive Supplier Competitiveness Improvement Program (ASCIP) program to fuel productivity enhancements among automotive suppliers in Ontario. This pilot program provides grant funding towards installing machine monitoring equipment and software to make the applicant more productive, innovative, or competitive.
Manufacturers who receive the grant are eligible to put the money towards FreePoint’s Machine Monitoring Software.
Funding Snapshot: ASCIP Technology Adoption Stream
Amount
- Up to 50% funding coverage up to $100,000 in grant funding for a $200,000 project.
- Reimbursement is based on completing project milestones and submitting proof of expenses.
Eligible Applicants:
- Ontario automotive supplier (at least 50% of total revenues must be generated from the auto sector).
SME ( Only one application per company.
Eligible Projects:
- Projects must increase suppliers’ capabilities to deliver shorter design cycle times, be more productive and more responsive to changes, and take advantage of new business opportunities.
- Projects are assessed on their ability to improve product lifecycle management through IT and/or productivity enhancements to manage the entire lifecycle of a product efficiently and cost-effectively.
- Projects cannot start before being approved for funding and cannot exceed 2 years.
Eligible Expenses:
- Labour – Capped at 25% of the project budget.
- Contractors – Two alternative quotes will need to be submitted with the application. Consulting costs are capped at 25% of the project budget.
- Software (ex. Machine Monitoring)
- Implementation costs
- Equipment – May be eligible if it directly relates to a software implementation and leverages benefits of that software.
Timelines:
Intakes for 2017 applications close on November 7 at 2:00pm (Application review meeting: December 11, 2017).
Key Information:
Find out more information on the Automotive Supplier Competitiveness Improvement Program
Is your business eligible for the Automotive Supplier Competitiveness Improvement Program?
Next Steps:
For more information on how to take advantage of these savings by installing machine monitoring with FreePoint Technologies, get in touch with Paul Hogendoorn at paulh@getfreepoint.com.
Information sourced from Mentor Works.
