Investing in new productive assets and technology is critical to keep manufacturers competitive. Over 40% of manufacturers identify uncertain return on investment as the main reason why they are not investing in new technology. CME’s Technology Asessment Program helps companies understand what technologies are best suited for their needs and provides greater certainty on their investments.
The Technology Assessment Program connects SME’s manufacturers in southern Ontario manufacturers with qualified experts to get customized technology assessments (up to $25,000 in reimbursable funds).
CME’s Technology Assessment Program qualified assessors will work on-site with companies to create a customized plan on how they can improve productivity by capitalizing on existing assets and implement the latest advanced manufacturing technologies including hardware, software, and cloud computing.
Upon completion of the assessment, the qualified expert will recommend an action plan that will enable your business to make informed decisions to assess, purchase, adopt, implement, train and maintain new technologies.
Strategic investment in innovation and technology adoption is the starting point on a virtuous cycle that ultimately leads to more output, employment and economic growth. Innovation and investment in new technologies improve business productivity helping businesses become more competitive. These businesses attract more production mandates and capture more market share, resulting in higher output and exports. Higher output leads to greater firm profitability, which leaves businesses with more money to invest in innovation and new technologies.
Digitization opens the door to the collection of data that can be mined to identify efficiencies in existing operations, decrease downtime, and monitor and guide production activity.
Advanced technologies can help to root out errors and deficiencies in production, boost quality control, and lead to overall improvements in the production process.
Technologies like 3D printing and rapid prototyping speed innovation cycles and can unlock new abilities and capacity that were previously unavailable to producers.
Digitization and advanced technology use can increase customer satisfaction by decreasing response times, creating more specialization and customization opportunities, and improving product quality.
FedDev Ontario is the Government of Canada’s economic development organization for Southern Ontario. FedDev generates jobs and economic growth through programs and services, and financial support. Together with businesses and community partners, FedDev works to build a stronger Southern Ontario.
Join us for an informative Forum in your region to hear from leading technology experts and learn how CME’s Technology Assessment Program can help you grow your business
CME Program Office