Export Development Program

By mmuise
Description:

The Export Development Program (the “Program”) supports businesses looking to increase their sales outside of Nova Scotia, improve their competitiveness and positively impact the Nova Scotia economy.
EDP offers two streams to support the applicant's business growth:
1. Travel and Virtual Trade Missions stream;
2. Hire a Consultant or Service Provider stream.


Comments on Funding:

Funding is up to a maximum of $15,000 CAD across the two streams. Minimum project cost for Stream 1 is $1,000; while $5,000 for Stream 2.

Deadline: January 12, 2024
Eligibility:

Applicants must meet the following criteria:

  • Be a Nova Scotia registered business in good standing (current registration on the Registry of Joint Stock Companies).
  • Have a permanent establishment in Nova Scotia.
  • Have most of its workforce currently residing in Nova Scotia (some exceptions may apply where it can be demonstrated that the economic benefit can be accrued to Nova Scotia). Contact the Regional Business Development Advisor in your area to discuss.
  • Be engaged in, or have imminent plans to engage in, commercial activities outside of Nova Scotia, with fully developed exportable product(s), service(s), technology(ies), and/or intellectual property to the satisfaction of Invest Nova Scotia.
  • Have a business plan and a strategy to sell products/services outside Nova Scotia outlining the business’ target market and distribution channels and challenges in the target market and how they will be overcome.
  • Have no outstanding or pending claims/litigation, injunctions, judgments, orders, legal or administrative actions, or similar proceedings against the business, its principals and/or any related business(es) (some exceptions may apply, contact the Regional Business Development Advisor in your area to discuss).
  • The business, principals and/or any related business(es) shall not be in default of any obligations under any other form of financial assistance and/or incentive program from Invest Nova Scotia, the Province of Nova Scotia, or by any agency of the Province of Nova Scotia. For purposes of this criteria, the Credit Union Small Business Loan Guarantee Program is considered a form of financial assistance provided by the Province of Nova Scotia.
  • Businesses and their related entities may be limited to funding for one business only at Invest Nova Scotia’s sole discretion.
Application Steps:

The applicants must:

1. contact the Regional Business Development Advisor in their area to discuss Program alignment to their project;

2. submit a completed Application Form to Invest Nova Scotia prior to the commencement of the project (Only project costs incurred after the application date are eligible to be claimed);

3. respond to any requests by Invest Nova Scotia for missing or follow up information required by Invest Nova Scotia for evaluation of the application no later than 5 business days following such requests by Invest Nova Scotia;

4. accept within 10 business days the Export Development Program Agreement (“Agreement”) which will be issued if their application was approved.

Documentation Needed:

Applicants for the Travel and Virtual Trade Missions stream must submit:
1. Claim Form Worksheet;
2. Copies of related project invoices/receipts as well as proof of payment such as credit card/bank statements, copies of the front and back of cheques (indicating that they have been cashed at a financial institution) or a wire or e-transfer receipt that shows the status of the transaction as “completed” or “confirmed”;
3. Per diem: Proof of travel must be submitted (i.e., airline boarding passes, or hotel invoice(s), etc. to validate the per diem calculation;
4. Airfare Stipend: Proof of airfare in the form of a detailed itinerary and / or invoice.

Other Things to Note:

Businesses can submit completed applications for the Export Development Program
anytime between March 21, 2023, and January 12, 2024, at 5:00 PM AST (or until
program funding is fully subscribed).
Applications will be considered for projects started and completed between April 1,
2023, and March 31, 2024.

About the author
mmuise