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Innovation Voucher Fund | New Brunswick Innovation Foundation (NBIF)

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Value

Up to a maximum of $80,000.

Description

The Innovation Voucher Fund encourages collaboration and partnerships between small and medium-sized enterprises (SMEs) and research organizations. The Fund aims to accelerate innovation within SMEs by using the talent, capacity, and facilities of New Brunswick’s research organizations. The ultimate goal is to apply innovation in a way that improves the profitability and competitiveness of SMEs in New Brunswick.

Eligible Applicants

To be eligible, the project proposal must demonstrate the following:

  • Be innovative (i.e., a new product, service, technology, or process).
  • A solid business case
  • Strong market potential
  • Commercial and financial feasibility
  • Ability to generate a sustained competitive advantage for the company
  • The potential for economic impact on the province of New Brunswick.

 

The company must meet each of the following criteria to be eligible for funding:

  • Be provincially or federally incorporated and registered to carry on business in New Brunswick
  • Have fewer than 500 employees
  • Have 24 months operating history

Eligible Expenses

Funds will be provided directly to the collaborating research organization under a contract agreement. The funds are to be used by the researcher to offset the eligible expenses that are incurred in relation to the project, and are thus non-repayable. Funds are to cover research and development services such as the following:

  • applied research
  • proof of concept
  • prototyping
  • product testing
  • product demonstrations
  • product evaluations and certifications
  • industrial/process engineering services • scientific/technology related advice and support

Deadline Date

Ongoing. Please click the link indicated below for update.

Contact

Contact Name: Paul Thornton (Fund Manager)

E-mail Address: paul.thornton@nbif.ca

Website: https://nbif.ca/innovation-voucher-fund/

Industry:

Software/Technology

Location:

New Brunswick

Tags:

Business, Innovation, SMEs

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There is grant money waiting for YOU! BUT if you step in a “grant trap,” your application is a NO! Learn the FIVE most common errors to AVOID in government grants! Get the 5 Grant Gotchas now to save you countless hours.

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