Ontario Centres of Excellence (OCE) will release proportional amount up to 25 per cent of the OCE commitment upfront.
For successful projects, funds will only be released upon execution of both Ontario Centres of Excellence (OCE) and Israel Innovation Authority (IIA) Funding Agreements.
Twenty-five per cent of funds will be released by OCE to the Ontario small-to-medium enterprise (SME) upfront. The remaining 75 per cent of the OCE funds will be released to the Ontario SME based on a claims and reimbursement model for eligible expenses. Claims must be submitted biannually along with progress reports.
Release of payments from OCE will be dependent on the expenditure of industry partner contribution as well as contingent on IIA confirming successful progress of the Israel component of the project.