2017-04-05 00:00:00 Growing a Business English Take a look at Manitoba's Commercialization Support for Business Program. Learn how this program can help you develop and launch new... https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/06/employees-install-equipment-purchased-with-help-of-CSB.jpg https://quickbooks.intuit.com/ca/resources/growing-business/manitoba-learn-commercialization-support-business-program/ Manitoba: Learn About The Commercialization Support for Business Program (CSB)

Manitoba: Learn About The Commercialization Support for Business Program (CSB)

2 min read

If you run a business in Manitoba and you want financial support for seed and startup activities, you may want to check out the Commercialization Support for Business Program. CSB provides funding and support to provincial businesses in three different streams tailored to specific stages of product development and marketing. If you qualify, you can get funding for research, development, prototyping, attending trade shows, and other expenses related to developing and launching a new product.

Eligible Businesses

Individuals, co-ops, partnerships, Canadian controlled private corporations, and joint ventures may apply to the CSB program. Your business needs to have less than $15 million in revenue and less than 50 full-time employees, at least 25% of whom are based in Manitoba. Non-profit organizations and for-profit real estate, retail, dining, and hospitality companies are not eligible, nor are individuals or companies engaged in farming, logging, fishing, or trapping.

Stream 1 — Product Development

This stream provides up to $50,000 in funding for product development. To apply, you need to show market feasibility for your product based on secondary research. Funding from this stream helps you develop your product, and you can use the funding for registering intellectual property, completing prototypes, and paying for market research as well as for other activities.

Stream 2 — Commercialization

Offering between $50,000 and $250,000 in funding, the commercialization stream covers costs such as beta trials, completion of the product, creating a marketing plan, or other activities to get your product completely ready for the marketplace. To apply for stream 2, your business must successfully complete stream 1, and you must be working full-time for the business. You can’t get stream 2 funding for side ventures.

Stream 3 — Market Development

This stream helps you take your product into new markets beyond Manitoba, and you can get funding worth up to $30,000. Note the total your company can claim through the CSB program is $250,000. If you’ve reached the threshold in streams 1 and 2, you may not be able to apply for the market development stream. This stream has two components —trade show assistance and marketing material design. Trade show assistance provides up to $10,000 to cover the cost of attending a trade show, and if you qualify, you can get this funding twice in a year for two different trade shows. Marketing materials design is funding to hire consultants to design marketing materials for new markets outside of Manitoba. The grant is worth a maximum of $10,000, and it can cover 50% of your marketing costs such as developing your trade show booth, designing marketing materials, and translating marketing for foreign markets. If you’re ready to get started, make sure that your product solves a unique market problem, and get ready to show the program coordinators how your product is innovative. You can download applications from the Growth, Enterprise and Trade section of Manitoba’s website. If you receive funding, be prepared to be involved for the long haul — the government stays in contact with business owners for five years after they receive funding, to monitor success stories and keep tabs on how the funding impacts Manitoba businesses.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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