Northern Industries Innovation Fund (NIIF)
$50,000.00
Grant
Description:
The Northern Industries Innovation Fund (NIIF) program provides incremental funding to support innovation projects that increase the competitiveness of local businesses in traditional industries across Northern B.C. The program is also intended to support economic diversification and/or viability of businesses to mitigate the economic impact of the pine beetle epidemic. NIIF supports applied research and development, new or improved products and services, and testing of innovative equipment or technologies to support capital investment decisions
Comments on Funding:
The program offers a rebate of up to 50% to a maximum of $50,000 per project.
– The applicant must contribute a minimum 10% of the project budget
– Applicants must apply, receive notification of approval, and sign an agreement prior to beginning
the project
– Projects must be completed as approved to receive funding and any change in the project scope
must be communicated to Northern Development. Incomplete or partially completed projects
may not be eligible for funding
Continuous Intake
Eligibility:
Applicants must be:
1. located/headquartered within the Northern Development Initiative Trust region.
2. Privately owned
3. Incorporated
4. Less than 500 employees
5. Revenues less than $100 million
6. Registered non-profit organizations engaged in industrial activities
7. Post-secondary institutions working with a private sector partner or an applied research project
with private sector implications
8. Community contribution companies
Application Steps:
Applicants must:
1. Contact Northern Development to discuss the proposed project scope and potential
alignment with the funding program.
2. Obtain a detailed quote outlining the proposed scope of work, fees, and timeline from a
qualified consultant.
3. Complete an application form and submits the application with the required
attachments to Northern Development.
4. Northern Development will review the application in consultation with the business owner and/or key decision maker.
5. Northern Development staff complete the due diligence process.
6. Northern Development staff will notify the applicant of the funding decision by phone or email.
7. If approved, a formal letter is mailed to the applicant.
8. If approved, an agreement is emailed to the applicant for their signature.
9. Upon completion, applicant submits completed Northern Development reporting form with required
attachments for funding.
10. Applicants are required to report annually for a three-year period on the economic benefits specific to the project.
Documentation Needed:
Applicants must submit:
1. Northern Industries Innovation Fund Application Form
2. A detailed quote outlining the proposed scope of work, fees and timeline from a qualified
consultant
3. Proof of incorporation, or years in business and revenue if a sole proprietor
4. Other information as requested during application assessment
5. If applicable, identification of other project funding sources in addition to Northern
Development’s funding, including verification of approval if confirmed
6. Applicant and Project Information
a. Information about you, and the organization you are applying for, will populate automatically.
Input the name of the project, the project’s proposed start and end date, a concise description
of the project and its rationale.
b. You also have the option to include additional milestones/dates related to your project.
7. Project Funding Information
a. Enter the detailed project budget, including all relevant expense items, into the budget section.
You will have the ability to upload any quotes in this section that support the budget.
b. Enter the grant amount you are requesting from Northern Development. Please refer to the
program guide for funding terms.
c. Enter all other funding sources. For funding sources that are confirmed, you will need to provide
the date the funding was confirmed and upload a confirmation document. For funding sources
that are NOT confirmed, you will provide the expected date of the funding decision. This
information is required to proceed further with the application.
d. Please note that the application will not proceed further if the project budget and funding are
not balanced
8. Attachments
a. Through the application form, you will be prompted to upload documents, required or optional,
that support information supplied as part of the application. The Attachment section is where
you can upload any additional documents that you want to submit that supports the project
scope, rationale or other details.
9. Project Overview
a. Provide the project rationale and key deliverables
10. Industry Sector
a. Select the industry your business operates in (drop down list provided), and the primary product
or service provided.
11. Project Classification
a. Select the project’s strategic focus
12. Employment
a. Provides the company’s current full and part-time/seasonal job numbers.
b. If the project is successful, provide the projected full and part-time/seasonal job numbers
anticipated to be created over the next three years
13. Revenue Generation
a. Provide the company’s current annual revenue.
b. If the project is successful, provide the projected revenue anticipated to be generated over the
next three years.
c. Provide details on how the revenue is expected to be generated.
14. Operational Cost Savings
a. Provide the company’s current operational costs.
b. If the project is expected to create operational cost savings, provide the projected annual
operation costs over the next three years.
c. If applicable, provide details on how the operational cost savings will be realized
15. Other Benefits
a. Provide details on any additional benefits expected from the successful completion of the
project.
16. Other Information
a. Select how you heard about the grant program (drop down list provided).
b. Identify if the company has been previously approved for grant funding and the outcome(s) of
the completed project.
17. Consultant Information
a. Provide the consultant’s name and contact details
18. Attachments
a. Upload the consultant proposal
Other Things to Note:
About the author
Maurice
