No, Ontario Centres of Excellence (OCE) funds will flow directly to the company on a claims and reimbursement basis. Funding will not be released at the project start.
Claims for reimbursement can be made when submitting an interim report, and the final report required at the end of the project.
OCE will release a payment of up to 50 per cent of the total OCE award upon receipt of the company’s interim report and all accompanying proof of expenditures and receipts.
OCE will release the remaining OCE funds (holdback) upon project completion and receipt of the following: final report including progress and metrics, financial attestation, and proof of all expenditures from the company.