Atlantic Innovation Fund — Private Sector Businesses
PE, Canada
Financial backing for technology R&D in Atlantic Canada
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Professional, scientific and technical services
- Educational services
- Other services (except public administration)
grant_single|grantors
- Atlantic Canada Opportunities Agency (ACOA)
- Government of Canada
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get a conditionally repayable contribution to develop or adapt a technology-based product process or service with strong potential for commercialization.
grant_single_labels|projects
This grant is available to companies located in specific geographical areas within Atlantic Canada. The eligible locations are targeted to support innovation and economic development in the Atlantic region.
- Nova Scotia
- New Brunswick
- Prince Edward Island
- Newfoundland and Labrador
grant_single|admissibleProjectsExample
$280,000
Vancouver
Creating a renewable energy storage solution for residential use to minimize energy wastage
$200,000
Winnipeg
Development of a mobile app for mental health support targeting young adults
$250,000
Halifax
Developing a Smart Agriculture IoT System to optimize crop yield and reduce waste
$300,000
Toronto
Implementation of AI-driven medical diagnostic tools to improve patient outcomes
$325,000
Regina
Launch of a telehealth platform for remote healthcare services in rural areas
$150,000
Quebec City
Creating an advanced eCommerce platform for local artisans to reach global markets
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements that relate to the applicant's type and the nature of the project.
- The applicant must be a private-sector business, a college, a university, another post-secondary institution, a non-government research organization, or a provincial Crown corporation.
- The project must be large-scale and include a research and development (R&D) element.
- The project should have a strong possibility for commercialization.
grant_eligibility_criteria|who_can_apply
Eligible applicants for the Atlantic Innovation Fund (AIF) include:- Private-sector businesses- Colleges, universities, and other post-secondary institutions- Non-government research organizations- Provincial Crown corporations
grant_eligibility_criteria|who_cannot_apply
There are specific types of companies that are not eligible for the Atlantic Innovation Fund grant. Companies that are not eligible include:
- Government departments or agencies
- Municipalities
- Individuals
grant_eligibility_criteria|eligible_expenses
The Atlantic Innovation Fund supports projects that focus on innovative research and commercialization efforts. These initiatives are designed to develop new products and services and integrate new technology to adapt to market needs.
- Creation and commercialization of new products and services that meet market demands and standards.
- Adaptation and integration of new technology to fulfill business needs or respond to market opportunities.
grant_eligibility_criteria|zone
The Atlantic Innovation Fund covers certain expenses related to the research and development component of eligible large-scale projects.
- Research and development costs associated with creating new products and services.
- Expenses related to adapting new technology to meet business needs.
grant_single_labels|criteria
There are evaluation and selection criteria for the Atlantic Innovation Fund (AIF). Projects must be large-scale and include an R&D element with strong potential for commercialization.
- Projects must be large-scale and include an R&D element with a strong possibility for commercialization.
- Recipients eligible for AIF funding include private-sector businesses, colleges, universities, research organizations, and provincial Crown corporations.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Complete Project Concept Template
- Fill out the Project Concept Template to outline your project idea.
- Submit the completed template to the nearest ACOA office for initial review.
- Wait for ACOA to confirm receipt and initiate a discussion about your project.
- Step 2: Application for Financial Assistance
- Engage in discussions with ACOA following the submission of your Project Concept Template.
- Complete the Application for Financial Assistance based on feedback and project specifics discussed with ACOA.
- Submit the completed application to the relevant ACOA office for processing.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The grant supports projects with a strong possibility for commercialization and requires an R&D element.
- Past recipients of this program can be researched on the Open Government Portal for insights.
- ACOA provides business information services to assist with queries and application procedures.
- Follow ACOA's social media channels for updates and more information about the fund.
grant_single_labels|contact
1-888-576-4444
Apply to this program
Atlantic Innovation Fund: Supporting Innovative Collaborations
This highly impactful fund supports partnerships between researchers and innovative businesses in Atlantic Canada to develop and commercialize new products and services. By focusing on large-scale projects with strong R&D and commercialization potential, it stimulates regional economic growth.
Unlocking Regional Innovation and Economic Potential
The Atlantic Innovation Fund (AIF), administered by the Atlantic Canada Opportunities Agency (ACOA), is a cornerstone program aimed at fostering innovation and economic growth in the Atlantic region of Canada. This initiative invites collaborations among private-sector businesses, post-secondary institutions, research organizations, and provincial Crown corporations to develop groundbreaking products and services. By emphasizing substantial research and development (R&D) components, the AIF ensures projects are primed for commercialization, aligning with global quality standards to meet both local and international demands.
At its core, the AIF is designed to catalyze market success and expansion of key sectors by harnessing the power of innovation. It focuses not only on the creation of new products but also on the vital adaptation of new technologies that respond vigilantly to evolving business needs and market opportunities. In doing so, the fund plays a pivotal role in helping Atlantic Canadians seize these prospects, overcome regional challenges, remain competitive, and drive growth in both emerging and traditional sectors.
Applying for funding through the AIF involves a structured process, beginning with the submission of a Project Concept Template to the ACOA. Following an initial consultation to discuss the project’s potential impact and alignment with program objectives, applicants are then guided through the comprehensive application for financial assistance. This streamlined approach ensures that projects selected for funding are not only innovative but also possess a significant likelihood of successful commercialization and market scalability.
By participating in the AIF, recipients are not just securing essential funding but are also joining a vibrant community of innovators that benefit from shared resources, knowledge, and strategic partnerships. This collaborative network provides an environment where ideas can flourish and transformative technologies can emerge, driving the Atlantic region towards a more robust economic future.
Previous successes under the AIF, such as the achievements of companies like Celtx and Kinduct Technologies, illustrate the fund’s potential to enable businesses to become industry leaders. By leveraging AIF’s support, they have been able to innovate, grow, and thrive, setting benchmarks for others in the sectors of disruptive technology and human performance analytics.
In conclusion, the Atlantic Innovation Fund is more than just a financial assistance program; it is a catalyst for change, equipping businesses and organizations in Atlantic Canada with the tools and resources needed to innovate and compete at a global level. Its focus on large-scale, R&D-driven projects ensures that the supported initiatives not only meet immediate economic needs but also contribute significantly to the long-term growth and prosperity of the region. This support is an invaluable asset for entities dedicated to pioneering impact-driven change and sustaining economic dynamism across the Atlantic Canadian landscape.
