New Brunswick Innovation Voucher
$80,000.00
Grant
Description:
The Innovation Voucher Fund (IVF) was designed to provide small and medium-sized businesses in New Brunswick with the scientific expertise and facilities they need to accelerate their growth through research and development (R&D). This includes new products or operational efficiencies.
Comments on Funding:
Funding is up to $80,000 to cover 80% of the cost of an R&D project.
Projects may range in size from $10,000 to $100,000, as to which NBIF will contribute up to a maximum of $80,000.
Currently accepting applications
Eligibility:
Applicants must:
1. be companies,
2. be provincially or federally incorporated and registered to carry on business in New Brunswick,
3. have fewer than 500 employees,
4. have 24 months operating history which includes meaningful sales and employment of staff,
5. be committed to collaborating with a researcher at one of New Brunswick’s post-secondary institutions or research organizations.
The project must demonstrate a solid business case, strong market potential and commercial and financial feasibility, the ability to generate a sustained competitive advantage for the company, and the potential for economic impact on the province of New Brunswick.
Application Steps:
Applicants must:
1. submit a complete project proposal to NBIF. Successful applicants will be matched with the research professional(s) they require to carry out the innovation.
2. develop and submit a project work plan and budget to NBIF jointly with the collaborating researchers.
3. sign a contract agreement between all parties involved in the project.
Funds will be provided directly to the collaborating research organization under a contract agreement and used by the researcher to offset the eligible expenses that are incurred in relation to the project.
Any intellectual property (IP) created as a result of the project will be owned by the company that receives the voucher, and for the purposes that the IP was created unless otherwise agreed to by the company.
Documentation Needed:
Applicants must submit:
1. a complete project proposal providing an in-depth description of the proposed innovation and project work plans that state the objectives and outcomes of the research and development, as well as the expected costs,
2. the signed contract agreement.
Other Things to Note:
No other details available.
About the author
Maurice
