Fisheries & Aquaculture Grants in Canada: Current Grants + Tips for Applying
The fisheries and aquaculture industry plays a critical role in Canada’s economy, supporting livelihoods and contributing to food security and environmental sustainability. To foster growth and innovation within this sector, various funding opportunities, including grants and loans, are available to entrepreneurs and businesses. These resources aim to address specific challenges, promote sustainable practices, and enhance competitiveness in the industry.
Key Takeaways
- Fisheries & aquaculture business grants provide non-repayable financial assistance for projects that support sustainability, innovation, and growth in the sector.
- Funding is offered by federal and provincial governments, non-profit organizations, and industry associations.
- Typical eligibility criteria include operating within the fisheries or aquaculture sector, alignment with grant objectives, and sometimes matching funds requirements.
- Funds can typically be used for activities such as research, technology adoption, infrastructure upgrades, and sustainability initiatives.
- Complementary funding options include business loans, startup programs, and equity investments tailored to the industry.
What is a Fisheries & Aquaculture Business Grant?
A fisheries & aquaculture business grant is a form of non-repayable financial support provided by federal and provincial governments, as well as non-profit organizations, to foster growth, innovation, and sustainability in the fisheries and aquaculture industry. These grants aim to support businesses by funding specific projects or activities that align with national and regional goals.
Grants are typically categorized into:
- Activity Grants: Focused on funding specific business activities like research, technology adoption, or sustainability improvements.
- Audience Grants: Targeted at particular groups, such as women entrepreneurs or Indigenous business owners in the industry.
- Industry Grants: Designed to advance innovation and competitiveness within fisheries and aquaculture.
- Regional Grants: Aimed at boosting economic growth and development in specific provinces or territories.
Grants vs Loans in Canada for Fisheries & Aquaculture
| Aspect | Business Grants | Business Loans |
|---|---|---|
| Repayment | Not required | Required with interest |
| Financial Risk | Minimal | Moderate to high |
| Eligibility | Strict and project-specific | Based on creditworthiness |
| Application Process | Competitive and time-consuming | Faster but requires financial proof |
If your business needs funding for a specific project that aligns with industry or government goals (e.g., innovation or sustainability), grants are a suitable option. However, for broader or immediate financial needs, loans offer greater flexibility and quicker access to funds.
Types of Grants for Fisheries & Aquaculture Businesses in Canada
Federal Government Grants for Fisheries & Aquaculture
Federal government grants are provided to support national objectives such as sustainability, technological innovation, and economic growth in the fisheries and aquaculture sector. These grants often focus on large-scale projects that have a significant impact on the industry, such as clean technology adoption, resource management, and market expansion. Typical uses include funding for research and development, environmental sustainability initiatives, and modernization of fishing equipment and infrastructure.
Provincial Government Grants for Fisheries & Aquaculture
Provincial government grants are designed to address region-specific challenges and opportunities within the fisheries and aquaculture sector. These grants aim to promote economic development, support small and medium-sized enterprises (SMEs), and enhance regional competitiveness. Funding may be used for activities such as infrastructure improvements, workforce training, and local market development.
Non-Profit Grants for Fisheries & Aquaculture
Non-profit organizations and industry associations provide grants to advance sustainable practices and innovation within the sector. These grants are often targeted at collaborative projects, such as partnerships between businesses, researchers, and community groups. Typical activities funded include habitat restoration, public education, and adoption of best practices in aquaculture and fisheries management.
Eligibility Criteria for Fisheries & Aquaculture Grants in Canada
Eligibility criteria for fisheries and aquaculture business grants are designed to ensure that funding supports impactful and relevant initiatives. Key criteria include:
1. Industry Alignment
2. Project Focus
3. Location Requirements
4. Organizational Status
5. Financial Contribution
6. Demonstrated Impact
Applying for Fisheries & Aquaculture Grants: Top 5 Tips
1. Research Thoroughly
2. Develop a Comprehensive Proposal
3. Emphasize Alignment with Goals
4. Secure Matching Funds
5. Prepare Early and Review
Alternatives to Fisheries & Aquaculture Grants in Canada
Business Loans & Credit for Fisheries & Aquaculture
Startup Programs for Fisheries & Aquaculture
Equity Investment Programs for Fisheries & Aquaculture
Fisheries & Aquaculture Grants – Current Grants Available in Canada
In the sections below you’ll find a sample of the federal and provincial grants currently available for fisheries & aquaculture businesses:
Federal Government Grants for Fisheries & Aquaculture in Canada
The ITC rate for qualified property is 10% of the cost of acquiring qualified property (capital cost first reduced by any government or non-government assistance received or receivable)
Tax Credit
Description:
A corporation can claim an investment tax credit (ITC) to reduce Part I tax that it would otherwise have to pay, or in some cases this credit may be fully or partially refundable.
You can earn ITCs on qualified property acquired mainly for use in designated activities in the Atlantic region.
Business and industry recipients: up to 50% of eligible costs per project (Indigenous organizations up to 100%, other recipients up to 75%); 2025-26 call: EPRS $100,000 to $300,000 per project, MEQ up to $500,000 over 3 years with a maximum of $200,000 per fiscal year, MCT $75,000 to $500,000 per project
Grant
Description:
Fisheries and Oceans Canada (DFO) provides funding for ocean and freshwater science and technology in areas that support the mission of the Department to increase our understanding of ocean and freshwater environments.
The Department provides funding to projects that deliver scientific research and related scientific activities that support evidence-based decision making and increase public understanding of marine and freshwater ecosystems.
Business and industry recipients: shall not exceed 50% of eligible costs per project (up to 75% for most other recipients, up to 100% for Indigenous organizations); 2025-26 call: $100,000 to $300,000 per project (EPRS), up to $500,000 over 3 years with a maximum of $200,000 per fiscal year (MEQ), $75,000 to $500,000 per project (MCT)
Grant
Description:
Fisheries and Oceans Canada (DFO) provides funding for ocean and freshwater science and technology in areas that support the mission of the Department to increase our understanding of ocean and freshwater environments.
The Department provides funding to projects that deliver scientific research and related scientific activities that support evidence-based decision making and increase public understanding of marine and freshwater ecosystems.
No fixed amount
Grant
Description:
DFO’s Ecosystems and Oceans Science Contribution Framework provides funding to build expertise in ocean and freshwater science and technology in areas that support the mission of the Department to increase its understanding of ocean and freshwater environments. Through this, DFO seeks to better protect, sustain and restore fisheries resources as well as the aquatic ecosystems that support them.
Non-repayable grant and contribution funding of up to 75% of eligible project expenditures (above 75% considered under exceptional circumstances); stacking up to a maximum of 100% of eligible costs
Grant
Description:
The NRC developed 5 funded collaborative research and development (R&D) programs led by NRC program directors.
These funded collaborative R&D programs help bring together the NRC’s national network of researchers and facilities with collaborators from industry, academia, and governments to work on game-changing scientific discoveries and technological breakthroughs. Grant and contribution (G&C) funding is provided through the NRC’s National Program Office (NPO) to collaborators offering complementary expertise, including academic institutions and SMEs.
Funding through a formal contribution agreement; funding is not available for projects that cost more than $250,000 a year or go beyond 3 years of funding
Grant
Description:
This Aquatic Invasive Species Prevention Fund supports efforts that will help prevent the introduction and spread of aquatic invasive species.
Provincial Government Grants for Fisheries & Aquaculture:
No fixed amount
Loan
Description:
Vessels are essential to a thriving seafood industry. From making improvements to a vessel to a complete customized new build, the Fisheries and Aquaculture Loan Board finances all types of projects relating to vessels.
Projects are cost-shared to a maximum of 50/50 with applicants (for example, a $10,000 project would receive $5,000 in funding); contribution based on scope and deliverables of the project
Grant
Description:
This initiative is intended to assist companies with seafood value-added products already in the marketplace, or those ready to go to market, with a technical issue that is keeping or prohibiting a product from entering a new market or limiting its current market success.
Business projects: up to 15% of eligible project costs — loans up to 15% to a maximum of $5M, interest free during the project period (up to 4 years), with up to 30% of the loan (to a maximum of $500,000) forgivable; grants up to 15% to a maximum of $500,000 (rural companies with fewer than 100 employees) or $1,500,000 (strategic projects). Community economic development projects: up to 50% of eligible project costs for a maximum grant of up to $1.5 million
Grant, Loan
Description:
The Southwestern Ontario Development Fund provides support for projects and investments to existing businesses, municipalities and not-for-profit organizations for economic development in southwestern Ontario.
No specific amount specified
In-Kind Support
Description:
Our Small Commercial Marine Business Program:
1. Allows marine businesses the opportunity to use Build Nova Scotia infrastructure in a manner that compliments traditional business development processes.
To support this initiative, Build Nova Scotia offers the Blue Line Accreditation Program. Successful applicants are granted access to designated shared areas within Build Nova Scotia owned and/or operated marine infrastructure throughout Halifax Harbour.
No specific amount specified
In-Kind Support
Description:
Build Nova Scotia is seeking several local operators to “Pop-Up” their retail businesses in one of two modified shipping containers for one-week opportunities within Salt Yard on the Halifax waterfront.
Up to $15,000 per fiscal year per applicant; projects cost-shared to a maximum of 50/50 (a $30,000 project would receive $15,000 in funding)
Grant
Description:
Perennia’s Seafood Accelerator Program supports Nova Scotia-based seafood companies in adaping to the changing demands of today’s markets by developing new value-added products, ensuring current seafood products meet customer expectations, developing and implementing comprehensive food safety programs to comply with regulatory requirements and gaining access to new markets.
Up to a maximum of $15,000 per applicant, based on scope and deliverables; projects cost-shared to a maximum of 50/50 with applicants
Grant
Description:
This program focuses on assisting companies to overcome a specific food safety requirement or obstacle that is preventing them from entering a new market, or in keeping markets open when requirements change.
No fixed amount
Subsidy
Description:
The Commercial Fisheries Freight Subsidy Policy (Policy) provides financial support to eligible commercial fishing businesses in Nunavut to offset the freight costs required to move their product to market and for air charters for fly-in fisheries.
Equity investment (preferred shares) of a minimum $75,000 in any Nunavut business enterprise; all investments are fully repayable by the investee
Investment
Description:
The Nunavut Development Corporation (NDC) places equity investments in eligible Nunavut business enterprises in order to support employment and income earning opportunities achieved through new business start-ups or the expansion of an existing business.
no fixed amount
Loan
Description:
Is your business or license changing hands? The Fisheries and Aquaculture Loan Board offers financing to transition from one owner to the next guided by our experienced and knowledgeable team of Loan Officers.
no fixed amount
Loan
Description:
Your seafood processing business is unique, so is our financing. Whether you’re looking to develop a new idea or expand an existing business, we’ll work with you to develop a loan structure that best suits individual business needs.
Cost-shared: funding is not normally to exceed 50% of total project cost.
Grant
Description:
The Nova Scotia Sportfish Habitat Fund was established in 2005 in response to a request by organized angling groups to provide financial support to volunteers working on the protection of fish habitat and improvement of public access to the sportfishing resource. The $5.91 Habitat Fund fee added to General and Salmon licenses provides funding to community groups involved in habitat restoration projects.
No fixed amount
Investment
Description:
We work to find, fund, and foster innovative Nova Scotia start-ups that strive to change the world. Our goal is to help those start-ups commercialize their technologies and succeed in the global marketplace.
Through the Nova Scotia First Fund we invest directly in emerging technology companies with high growth potential, and as a limited partner in venture capital funds that invest in Nova Scotia start-ups.
Projects are cost-shared to a maximum of 50/50 with applicants (for example, a $10,000 project would receive $5,000 in funding); funding contribution is based on scope and deliverables of the project
Grant
Description:
This initiative is intended to support the development of new seafood value-added products through activities such as market validation, prototype development and scale-up support with the intent of having the product successfully reach the intended market.
Micro loans for projects under $50,000, for financing needs as small as $3,000, at competitive interest rates with flexible payment options and amortization periods
Loan
Description:
Not every opportunity requires big money. Through a streamlined process, our micro loan products are specifically geared to provide smaller loans for projects and financing needs as small as $3,000.
We offer competitive interest rates, flexible payment options and amortization periods, designed specifically for Nova Scotia’s seafood sector.
No fixed amount
Loan
Description:
License(s) loans allow new fishers to join the industry, and established fishers to expand or diversify operations. We consider license and enterprise purchases to be long-term investments so we‘ll support you with long-term loans.
no fixed amount
Loan
Description:
Licenses and gear loans allow new fishers to join the industry or established fishers to expand or diversify operations. It is available to new entrants, commercial fishers or clients looking to re-enter the industry.
25% of Eligible Project Costs, maximum Rebate Amount $3,750,000; maximum Eligible Project Costs $15,000,000; minimum total budgeted Nova Scotia investment $350,000
Rebate
Description:
The Innovation Rebate Program (IRP) provides financial incentives for projects that assist Nova Scotia companies as they scale to increase their competitiveness.
The program supports companies as they innovate, drive productivity, increase production capacity, and adopt cleaner and more sustainable approaches to growth across Nova Scotia.
Individual investors: 35% of an eligible investment (45% for approved corporations in the oceans technology and life sciences sectors), on a maximum annual eligible investment of $250,000 (maximum annual personal tax credit $87,500 at 35% and $112,500 at 45%); corporate investors: 15% of an eligible investment, on a maximum annual eligible investment of $500,000 (maximum annual corporate tax credit $75,000)
Tax Credit
Description:
The Innovation Equity Tax Credit is a non-refundable personal and corporate income tax credit available to eligible investors who invest in approved corporations.
The Innovation Equity Tax Credit encourages investors to make equity capital investments in eligible Nova Scotia small and medium corporations engaged in innovative activities contributing to inclusive economic growth and increase investment in innovation.
Loan guarantees of up to $2 million for license acquisition, $3 million for vessel-only related items and $4 million for combining of enterprises; down payment loans of 10 to 15 per cent of the eligible project cost, to a maximum of $450,000; and interest rebates for the first five years of the guaranteed loan, up to 2 to 2.5 per cent above Commercial Bank Prime
Loan Guarantee, Loan, Rebate
Description:
The Harvester Enterprise Loan Program (the “Program”) is an enhancement of the former Fisheries Loan Guarantee Program and will expand supports for independent fish harvesters positioning the sector for future success.
The program has been improved to increase maximum loan guarantee thresholds. New components have been added to allow for down payment loans and interest payment rebates to harvesters to support eligible activities.
50% of Eligible Costs up to a maximum of $60,000.00 per Project for Processor and Primary Producer Recipients; 50% of Eligible Costs up to a maximum of $125,000 per Project for Industry Organization Recipients
Grant
Description:
The Grow Ontario Market Initiative provides funding to primary producers, processors and industry organizations to find and develop domestic or export market opportunities.
Interest relief of up to $4,000 per year for three years, to a maximum contribution of $12,000 (2% per year with Grade 12 or 1% per year without, on loans up to $200,000), plus up to $1,000 per applicant toward training costs, normally cost-shared 50-50
Subsidy, Grant
Description:
If you are a new entrant in the lobster fishery in Prince Edward Island, you may be eligible for support through the Future Fisher Program. This program offers training and financial assistance to aid new entrant lobster fishers to become better positioned for success in the PEI lobster fishery.
no fixed amount
Loan
Description:
The Fisheries Loans provide financial assistance in the form of loans to new or existing commercial fishers for the purchase of fishing licenses, quotas, engines or equipment related to fisheries, new or used vessels or for making major repairs to the hull or engine of a vessel. The Department of Agriculture, Aquaculture and Fisheries (DAAF) acts as a complementary lender, so clients interested in a DAAF loan or loan guarantee must first seek financing from a private lender.
no fixed amount
Loan Guarantee
Description:
The Fisheries Loan Guarantees provides loan guarantees to New Brunswick fishers and sea farmers for the purchase of fishing licenses, quotas, engines or equipment related to fisheries, new or used vessels or for making major repairs to the hull or engine of a vessel. The program is designed to share the financial risk with financial institutions.
$150,000.00
Grant
Description:
The Fisheries Development and Diversification Program is an initiative by the Government of Nunavut aimed at fostering a sustainable and economically viable fishing industry within the territory. Administered by the Department of Environment, this program provides financial support to various stakeholders in the fishing industry, including individuals, businesses, and organizations.
$50,000.00
Grant
Description:
The Fisheries Development and Diversification Program is an initiative by the Government of Nunavut aimed at fostering a sustainable and economically viable fishing industry within the territory. Administered by the Department of Environment, this program provides financial support to various stakeholders in the fishing industry, including individuals, businesses, and organizations.
$250,000
Rebate
Description:
The Fisheries and Aquaculture Energy Efficiency Innovation Fund (FAEEIF) is a provincially-funded program designed to help prepare the commercial fisheries and aquaculture sectors in Nova Scotia to reduce their energy use and mitigate climate change impacts, in alignment with provincial targets as outlined in the Environmental Goals and Climate Change Reduction Act: reduce emissions to at least 53% below the levels that were emitted in 2005 by 2030 and achieve net zero by 2050.
Objective: Supporting studies that enable future projects under the other pathways (Electrification,
Renewable, and Operational Efficiency) included in this funding program. The intent of the study should
be to enable more than one project that is not tied to a specific company. The Study Path promotes
future projects that enable the core intent of the fund to create innovative, sustainable, and energyefficient practices in the Nova Scotia fisheries sector.
$100,000
Rebate
Description:
The Fisheries and Aquaculture Energy Efficiency Innovation Fund (FAEEIF) is a provincially-funded program designed to help prepare the commercial fisheries and aquaculture sectors in Nova Scotia to reduce their energy use and mitigate climate change impacts, in alignment with provincial targets as outlined in the Environmental Goals and Climate Change Reduction Act: reduce emissions to at least 53% below the levels that were emitted in 2005 by 2030 and achieve net zero by 2050.
Objective: Supporting adoption of renewables such as solar, wind, geothermal, or biofuel.
$100,000
Rebate
Description:
The Fisheries and Aquaculture Energy Efficiency Innovation Fund (FAEEIF) is a provincially-funded program designed to help prepare the commercial fisheries and aquaculture sectors in Nova Scotia to reduce their energy use and mitigate climate change impacts, in alignment with provincial targets as outlined in the Environmental Goals and Climate Change Reduction Act: reduce emissions to at least 53% below the levels that were emitted in 2005 by 2030 and achieve net zero by 2050.
Objective: Supporting energy efficient technology adoption and exploration of energy monitoring and
cost of production management projects.
$250,000
Rebate
Description:
The Fisheries and Aquaculture Energy Efficiency Innovation Fund (FAEEIF) is a provincially-funded program designed to help prepare the commercial fisheries and aquaculture sectors in Nova Scotia to reduce their energy use and mitigate climate change impacts, in alignment with provincial targets as outlined in the Environmental Goals and Climate Change Reduction Act: reduce emissions to at least 53% below the levels that were emitted in 2005 by 2030 and achieve net zero by 2050.
Objective: Supporting the transition to the use of electric vessels, support vehicles (support off-road
vehicles need to displace fossil fuel-based off-road support vehicle), and charging infrastructure
(including associated energy storage).
0.50% interest-rate reduction for projects that have been given approval for grants, program funding or rebates for energy efficiency
Loan
Description:
Our Energy Efficiency Innovation Financing supports Nova Scotia seafood businesses with the adoption of energy-efficient technologies to reduce electricity consumption and greenhouse gas emissions. Eligible projects for seafood operations include those adopting upgrades for electrification, operational efficiency or renewable energy and alternative fuel projects.
75 per cent wage subsidy up to $15 per hour toward the hourly wage for 10 to 28 weeks, plus a training allowance for up to $3,000 per employee hired
Subsidy
Description:
The Employment Enhancement program supports employers in the forestry, aquaculture, agriculture, and fishing sectors, who are engaged in value-added secondary processing, by providing funding to create long-term or seasonal jobs and offering a training allowance for new employees.
Business projects: up to 15% of eligible project costs (loans up to 15% to a maximum of $5M, interest free during the project period, up to 30% of the loan to a maximum of $500,000 may be forgiven; grants in specific circumstances up to 15% to a maximum of $500,000 or $1,500,000); Community economic development projects: up to 50% of eligible project costs for a maximum grant of up to $1.5 million
Grant, Loan
Description:
The Eastern Ontario Development Fund provides support for projects and investments to existing businesses, municipalities and not-for-profit organizations for economic development in eastern Ontario.
No specific amount specified
In-Kind Support, Accelerator
Description:
The Circular Economy Accelerator Program sought to create an inclusive circular economy in urban and rural communities within the Vancouver Island-Coast region. This project supported existing businesses to incorporate circular economy practices into their operations and facilitate regional cluster development to divert waste to circular processes and new economic opportunities in these communities.
25% of the capital cost of qualified property minus related government assistance (acquired on or after 1 October 2022), to a maximum of $100 million per approved project across the duration of the project; 15% to a maximum of $30 million per approved project for property acquired before 1 October 2022
Tax Credit
Description:
The Capital Investment Tax Credit is a refundable corporate tax credit that can be claimed for capital costs directly related to acquiring qualified property for use in Nova Scotia as part of an approved project.
With certain exceptions, the tax credit is available to eligible corporations in the manufacturing, processing, fishing, farming, logging, storing grain and harvesting peat sectors.
Producers, processors and cooperatives: from a minimum of $5,000 per year up to a maximum of $15,000 per year (annual gross revenue less than $250,000) or $30,000 per year (over $250,000), at 50% Ministry / 50% Applicant for first-time recipients and 35% Ministry / 65% Applicant for returning recipients; industry associations, boards and councils: from a minimum of $5,000 per year up to a maximum of $75,000 per year, at 70% Ministry / 30% Applicant
Grant
Description:
The Buy BC Partnership Program is a fundamental component of Buy BC programming that provides up to $2 million in cost-shared funding annually to local producers, processors, and associations to support their ability to undertake local marketing activities that increase consumer awareness and sales of local agriculture, food and beverage products.
Repayable term loans at an interest rate equal to the Bank of Canada rate + 0.5%
Loan
Description:
The Business Investment Program provides term loans to small and medium-sized enterprises (SMEs) in strategic growth sectors as identified by Jobs, Growth and Rural Development. The fund is also available to businesses which have export potential and require assistance to enter or expand in external markets.
Contribution program jointly funded by the federal and provincial government (Government of Canada 70%, Province of British Columbia 30%), available to support projects until March 31, 2026
Grant
Description:
Through the federally and provincially co-funded British Columbia Salmon Restoration and Innovation Fund (BCSRIF), we support protection and restoration activities for Pacific salmon and other priority wild fish stocks. We also support projects that will ensure the fish and seafood sector in B.C. is positioned for long-term environmental and economic sustainability.
no fixed amount
Loan
Description:
Are you looking to start, grow, or acquire a boatbuilding operation? The Fisheries and Aquaculture Loan Board supports the long term success of boatbuilders in Nova Scotia with flexible and affordable financing.
no fixed amount
Loan, Loan Guarantee
Description:
The Department of Agriculture, Aquaculture and Fisheries (DAAF) provides repayable loans and loan guarantees to promote development of the aquaculture sector as a complementary lender. DAAF will work with other lenders to facilitate succession and new development of viable projects, such as: purchasing of new or used vessels, undertaking activities related to aquaculture, purchasing an engine or equipment related to aquaculture, or making major repairs to the hull or engine of a vessel.
No fixed amount
Loan
Description:
Aquaculture loans are available to support you in starting, expanding, or purchasing an aquaculture business. We tailor loans to match the cycles of your business. We understand what it takes to make your business grow.
Minimum investment of $250,000 for finfish operations and $100,000 for shellfish operations (no maximum investment level); eligible capital expenditures funded up to 50 per cent through ACEP equity financing
Investment
Description:
The Province of Newfoundland and Labrador has established the Aquaculture Capital Equity Program to promote the growth and development of aquaculture in the province.
The objective of the program is to partner with companies to increase production from both hatcheries and marine sites in Newfoundland and Labrador. The program will provide a minimum investment to projects of $250,000 for finfish operations and $100,000 for shellfish to match a private sector cash investment.
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