Upon project approval, the Applicant Organization and Project Contributors will be required to sign the Ontario Centres of Excellence (OCE) Funding Agreement. Financial information from the Applicant Organization is required to receive the funding via electronic fund transfers (EFTs).
Once the OCE Funding Agreement has been executed and the required financial information is provided to OCE the OCE Finance Department will activate the project. The project status will be changed to “Project Active”. The activation date is the “project start date”. The project begins at that time.
Upon project activation the initial 25 per cent of the Fund will be disbursed to the Applicant Organization to commence the project. Further disbursements are dependent upon receipt and approval of the Project Financial Claim and Progress Report to OCE.
Please note, all funding disbursements will be made against the financial claims submitted to and approved by OCE. All disbursements will be made directly to the Lead Organization. The Lead Organization is responsible to reimburse the Health Innovation Teams as per the approved budget.