Federal Grants – Canada’s TEAM Program
Program Objective: Technology Early
Action Measures
– an interdepartmental
investment program to facilitate late-stage technology development and demonstration
of innovative technologies that have potential to reduce GHG emissions nationally
and internationally, while sustaining economic and social development.
Program Mechanics: Under the program, Mondial applies for funding prior to construction of an innovative technology solution. The application is reviewed for GHG impact, technology innovation, sound engineering and for potential commercial success. If funding is agreed to, Mondial commits to pay for the construction of the innovative solution, then submits invoices and progress reports to a federal government employee designated as “Project Champion”. Funding from all federal sources, including TEAM and REDI can not exceed 50% of the cash and non-cash costs of the project. If a clear path to commercialization can be envisaged and agreed to, then terms of repayment are negotiated as part of the funding commitment. Otherwise, the funding is non-repayable.
Program Successes: The repayable and non-repayable grants help fund commercial development of innovative technologies which have larger capital investment requirements than can reasonably be met by independent entrepreneurs, but which are not yet at a revenue-generating stage where they can attract capital in public securities markets. To date, TEAM projects have a total portfolio of approximately CDN$1 billion (including all public, foreign and private funds).
Program Commitment: The federal government of Canada funds the administration of the TEAM program, and funds the repayable and non-repayable grants. Current funding cost is approximately CDN$20 million per year through to 2008.
