![How to Reach Us John Gunn, C.A Phone (888) 440-6990 Cell (519) 902-0550 Fax (519) 488-1220 [email_address] Mark Heisz, HBA, CMA Phone (888) 440-6990 Cell (519) 639-5062 Fax (519) 488-1220 [email_address]](https://image.slidesharecdn.com/cmesmartprosperitynowprogram-13267170758224-phpapp01-120116063413-phpapp01/85/CME-Smart-Prosperity-Now-Program-Overview-13-320.jpg)
CME Smart Prosperity Now Program Overview
- 1. Aegis Finance Group CME Smart Prosperity Now Program - Overview
- 2. Smart Prosperity Now Program Funding SMART Prosperity Now is a program built around two components; an assessment component and project funding component. Through the project funding component, companies will receive a contribution of 33% of eligible costs up to a maximum of $75,000, whichever is less. The assessment component will further help companies assess the current state of operations and understand the barriers they face in the global competitive market by working with a qualified expert and tools available through the assessment program to develop a vision and strategy. The assessment component will cover 50% of the costs up to $5,000 per assessment. The findings from this assessment will allow companies to implement a project under the prosperity funding program. SMEs previously supported through CME SMART programming will be considered eligible however cumulative funding between previous SMART program and the new Prosperity Now cannot exceed $100,000. Other government funding sources are not acceptable.
- 3. Market Assessment Funding SMART realizes the importance of the Market Assessment and will contribute up to 50% of the cost of an International Market Assessment, up to a maximum of $5,000 including GST/HST. To qualify, the following conditions must be met: The applicant company must meet all SMART eligibility requirements and could not have been previously been awarded any SMART Funding. Only one Market assessment will be funded per corporation or business entity. The Market Assessment needs to be done for an international market or location which the company is not presently serving. The United States is considered an international market. The Market Assessment must be undertaken by an approved SMART Consultant. (Work done by an internal staff member, whether full time or part time will not be considered.) This must be for future work and not for any Market Assessments that have been previously done by the applicant. A copy of the Market Assessment Proposal must be submitted by the company for pre-approval prior to any work beginning. The applicant company is responsible for making payments to the Consultant. SMART will only deal with and make payments to the applicant company. For SMART to approve a Market Assessment Proposal, it should include the following items: An overview of the targeted international market. The market structure of the international market which would include an in-depth competitive analysis. In addition, the key sales drivers should be identified. A SWOT analysis, both internal and external. Recommendation and rationale. Details for all the above must be provided along with time to complete the study and the total cost to complete the assessment. The approved applicant must accept and approve the final Market Assessment prior to submitting to SMART for payment.
- 4. Assessment Selection Criteria Applications will be evaluated on their ability to meet the following criteria: Applicant’s ability to achieve the expected results, as demonstrated by the competence and capabilities of the applicant’s management team, it’s commitment to the project. Projected economic and environmental benefits to Ontario, including the scale of reasonableness of the benefits expected from the project and interactions with other segments of the Ontario economy (e.g. through strengthening of economic clusters across the province). Organizations who are looking to expand their products to global markets and / or are representing a sector or industry in the following areas: Environmental science and technologies; Natural resources and energy; Health and related life sciences and technologies, including the food and beverage industry Information and communications technologies; and Advanced Manufacturing. Creation of long-term employment and high-value jobs; Improved competitiveness and economic growth in southern Ontario; Accountability mechanisms are in place to ensure due diligence in completing the project and ability to report on performance measures; Expectation of success for the project, as demonstrated by the feasibility, clarity and specificity of the project plan. All project activities must be completed by March 31, 2014.
- 5. Eligible Companies In order to be considered for Prosperity Now funding your company must meet the following criteria: Must be company based in Southern Ontario Must be an incorporated business for 2 years or more. Must have 15 – 1,000 employees per corporation. Must be an exporter or implementing a project that will provide an export opportunity (proof of this will be required). Expenses cannot have incurred prior to application submission. Cannot stack funding with any other government funded program, including but not limited to; University or College Funding programs Export Funding programs Other related government funding programs. PLEASE NOTE: Must produce or support product/services related to manufacturing
- 6. Eligible Projects Applicants must be planning to undertake projects that result in the adaptation and adoption of new technologies, processes and skills development that will enhance business productivity in their sector or industry. At minimum the primary focus of your project must be on improving your operational efficiency. Ideally the project will not just improve your efficiency incrementally, but transform the way you do business and make your company substantially more competitive. Eligible projects must be in the following areas. New market development Commercialization Projects that expand to global markets Investments in sustainable and green technology: Recycling Air and water purification Sewage Environmental remediation (removal of pollutants and contaminants) Waste management Green Energy and technology, Smart Grid Purchases of new or upgraded equipment and technology Lean productivity improvement investments
- 7. Project Costs Projects of any size can be proposed for funding, but SMART Funding is only available up to 33.3% of project costs or $75,000, whichever is less. Good projects shouldn't be too big or too complicated - we are looking for projects that will be completed successfully and on time, and we want the benefits that are reported to clearly relate to the project. At the same time, projects should not be so small that achieving the stated goals or performance objectives depends on other things - like the completion of other projects at the facility. Projects must have started ON or AFTER January 1, 2012. Projects will have one year for completion including quantifying benefits. The SMART Prosperity Program runs until March 31, 2014.
- 8. Eligible Costs Capital Expenditures Installation Costs (3rd party installation only) Consulting Fees (industry standard rates only) Administration (maximum 5% of eligible and supported costs) Independent Market Assessment or Feasibility Study by a SMART approved consultant who conforms to guidelines – (covered under assessment application only). Independent Business Marketing Plans (new plans only) Foreign legal Patents in foreign country Trade Shows or Foreign Customer / Dealer Shows Show booth acquisition Trade show exhibitor registration for booth space Trade show media advertising Packaging redesign by third party Translation services Installation instructions Warranty Foreign country regulatory approvals/testing Customer testing of product(s) Foreign website development Catalogues/Brochures development for foreign market by third party Public Relations / Releases Software Upgrades / Installations
- 9. Non-eligible Costs costs of land, building or vehicle purchase; refinancing; costs of intangible assets such as goodwill, whether capitalized or expensed; depreciation or amortization expenses; interest on invested capital, bonds, debentures, or mortgages; bond discount; losses on investments, bad debts and any other debts; fines or penalties; costs related to litigation; non-incremental wages; fees for administrators, including payments to any member or officer of the Board of Directors; Travel, accommodations, meals and entertainment Research and Development costs or prototype development and samples Labour - internal Materials Construction Media advertising Media placement Training Software Licenses Shipping, transportation costs Communication costs Promotional materials i.e. golf shirts, golf balls, pens, hats, etc. Commissions
- 10. Funding Selection Criteria Applications will be evaluated on their ability to meet the following criteria: Applicant’s ability to achieve the expected results, as demonstrated by the competence and capabilities of the applicant’s management team, it’s commitment to the project. Projected economic and environmental benefits to Ontario, including the scale of reasonableness of the benefits expected from the project and interactions with other segments of the Ontario economy (e.g. through strengthening of economic clusters across the province). Organizations who are looking to expand their products to global markets and / or are representing a sector or industry in the following areas: Environmental science and technologies; Natural resources and energy; Health and related life sciences and technologies, including the food and beverage industry Information and communications technologies; and Advanced Manufacturing. Creation of long-term employment and high-value jobs; Improved competitiveness and economic growth in southern Ontario; Accountability mechanisms are in place to ensure due diligence in completing the project and ability to report on performance measures; Expectation of success for the project, as demonstrated by the feasibility, clarity and specificity of the project plan. All project activities must be completed by March 31, 2014.
- 11. Aegis Capital Solutions – A Case study Aegis secures $1,500,000 for a London manufacturer’s US expansion The company president remarks “John and Mark of Aegis responded immediately to our needs. They quickly came to understand our business, prepared a comprehensive financing information package including business plan, projections and financial analysis needed to tell our story to the lending community. The outcome was truly the best result we could ask for!”
- 12. Aegis Value Proposition We bring our knowledge gained from over 15 years of experience in the financing industry to our clients We find the very best financing and leasing structures in the market We get the best rates for our clients by having our funding sources bid on our client’s business We prepare the “story” in the form of a professional credit submission that ensures the right decision is made quickly. This takes away our client’s pain of navigating through the daunting credit adjudication process alone Aegis Equipment Finance’s services are free to our clients since we are paid by our funding sources by bringing them your business Our expertise and service frees up our client’s time so they can focus on growing their business and delivering value to their customers Put Simply – A Common Sense Approach to Financing!
- 13. How to Reach Us John Gunn, C.A Phone (888) 440-6990 Cell (519) 902-0550 Fax (519) 488-1220 [email_address] Mark Heisz, HBA, CMA Phone (888) 440-6990 Cell (519) 639-5062 Fax (519) 488-1220 [email_address]