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Cybersecurity Fintech Innovation Pilot Program (CFIPP)

Government of Ontario, Ontario Centres of Excellence, and Toronto Financial Services Alliance Logos

Accelerating the growth of cybersecurity companies in Ontario 

The Cybersecurity Fintech Innovation Pilot Program (CFIPP) is a one-year, $7.8-million initiative funded by the Ministry of Research, Innovation and Science (MRIS) and delivered by Ontario Centres of Excellence (OCE) in collaboration with the Toronto Financial Services Alliance (TFSA). The program will accelerate the growth of cybersecurity start-up and scale-up companies in Ontario by partnering with financial institutions (FIs) seeking innovative solutions to cybersecurity challenges, and by providing them with cybersecurity talent.  

In order to facilitate potential partnerships between start-ups/scale-ups and FIs, OCE hosted a partnering forum on September 28, 2017 to bring together potential collaborators for Technology Development and Demonstration projects.

More program information
Program Overview

Start-ups or scale-ups with innovative cybersecurity products/services partner with large and medium-size FIs that are the end-users of the technologies, to develop and/or demonstrate cybersecurity solutions in the finance sector.

More details

Partnering Forum

In order to facilitate potential partnerships between start-ups/scale-ups and FIs, OCE hosted a partnering forum to bring together potential collaborators for Technology Development and Demonstration projects.

Objectives

The objectives of the Cybersecurity Fintech Technology Development and Demonstration Projects are to:

  • Accelerate the growth of cybersecurity start-ups and scale-ups through technology development and demonstration projects that will catalyze the early adoption of innovative technologies
  • Engage the innovation ecosystem in Ontario to demonstrate innovative products and services that produce clear economic impact
  • Accelerate the adoption of emerging cybersecurity technologies and process improvements in the finance sector
  • Identify and address barriers to realize sustainable and long-term adoption of innovations/technologies in the finance sector
  • Identify, attract and retain Highly Qualified Personnel (HQP) with skills in cybersecurity for the finance sector
How Funding Works
  • Start-ups and scale-ups can apply for up to 50 per cent of eligible projects costs to a maximum of $100,000 OCE contribution for the technology development and/or demonstration portion of the project, with the balance of the funding (the match) coming from the start-up/scale-up (applicant) and/or FI (partner). Expenditures may be incurred by the start-up/scale-up (applicant) and/or FI (partner).
  • At least 28 projects are expected to be funded during the course of the pilot program
  • Projects may be up to 1 year in duration
  • Projects must start before March 31, 2018 and end before March 31, 2019

Learn more about the funding process

How to Apply

Applications must be initiated in AccessOCE by an OCE Business Development Manager (BD). Once initiated, the Applicant will receive login information to begin completing the application.

Applications must be accompanied by a signed letter of support from the FI, confirming the high-level project scope, budget, timelines, commitment to the project as a “Project Contributor/Partner,” and attestation to having read the OCE funding agreement.

Prior to submission, applicants must first request their BD to provide an endorsement of the application for eligibility and suitability. Once the endorsement is provided, the applicant or BD will then be able to submit the application.

Successful applicants and their partners must execute OCE’s standard funding agreement, within 30 days of notification of award. 

More details on the application process

More program information
Program Overview

Internships and fellowships are provided for students and recent graduates of publicly-funded Ontario colleges and universities to gain cybersecurity or financial technology ("fintech") experience, or build those skills while working with cybersecurity solution adopters and providers. Start-ups and scale-ups can tap into world-class talent coming out of Ontario's post-secondary institutions and strengthen their capacity to develop new products, services, and processes.

Internships and fellowships may be applied for separately, or requested as part of a Stream 1 – Technology Development and Demonstration Project application.

More details

Partnering Forum

In order to facilitate potential partnerships between start-ups/scale-ups and FIs, OCE hosted a partnering forum to bring together potential collaborators for Technology Development and Demonstration projects.

How Funding Works

Internship

  • Internship can be 4, 8, or 12 months in duration (maximum number of four-month units per application is three)
  • Each four-month internship unit is valued at $20,000
    • $10,000 from OCE and $10,000 from the applicant and/or partner(s) (at least $5,000 of the contribution from the applicant/partner(s) must be in cash)
    • lnterns must receive a minimum compensation of $15,000 per four-month internship period. Of the $20,000 value of the four-month internship, up to $5,000 (applicant/partner in-kind contribution) may be applied towards the direct cost of the Project.

Fellowship​​

  • Fellowships are 12 months in duration (maximum number of 12-month units per application is one).
  • Each 12-month fellowship is valued at $85,000
    • $35,000 from OCE and $50,000 from the applicant and/or partner(s) (at least $25,000 of the contribution from the applicant/partner(s) must be in cash)
    • Fellows must receive a minimum compensation of $60,000. Of the $85,000 value of the 12-month fellowship, up to $25,000 (applicant/partner in-kind contribution) may be applied towards the direct costs of the project.

Learn more about the funding process

How To Apply

Applications may be submitted at any time before December 15, 2017. For information on “how to apply”, please click the following options: