Atlantic Innovation Fund — Private Sector Businesses

Q: How much funding can be received?

There is no informations about how much funding can be received.

Q: What is the deadline to apply?

The program is accepting continuous intake

Q: Is the Atlantic Innovation Fund — Private Sector Businesses a grant, loan, or tax credit?

Atlantic Innovation Fund — Private Sector Businesses is a Grant and Funding

Q: Who are the financial supporters of the Atlantic Innovation Fund — Private Sector Businesses?

Atlantic Innovation Fund — Private Sector Businesses is funded by Atlantic Canada Opportunities Agency (ACOA), Government of Canada

Q: Who is eligible for the Atlantic Innovation Fund — Private Sector Businesses program?

To be eligible for the Atlantic Innovation Fund — Private Sector Businesses program, you must: • Projects must be large-scale with an R&D element and strong commercialization potential. • Eligible applicants include private-sector businesses, colleges, universities, non-government research organizations, and provincial Crown corporations.

Q: Who can I contact for more information about the Atlantic Innovation Fund — Private Sector Businesses?

You can contact Atlantic Canada Opportunities Agency (ACOA) or by phone at 1-888-576-4444.

Q: Where is the Atlantic Innovation Fund — Private Sector Businesses available?

The Atlantic Innovation Fund — Private Sector Businesses program is available the province of Prince Edward Island.

Last Update: January 24, 2025

PE, Canada

Financial backing for technology R&D in Atlantic Canada

At a glance

Eligible Funding

No Condition

Timeline

Unspecified

Financing Type

Grant and Funding

Eligible Industries

Professional, scientific and technical services
Educational services
Other services (except public administration)

Funds Providers

Atlantic Canada Opportunities Agency

Government of Canada

Program status

Open

Overview

Get a conditionally repayable contribution to develop or adapt a technology-based product process or service with strong potential for commercialization.

Activities funded

Creation and marketing of new products and services that align with global quality standards.
Adaptation of new technology to address business needs or explore market opportunities.

Examples of admissible projects:

$ 150,000

Creating an advanced eCommerce platform for local artisans to reach global markets

$ 200,000

Development of a mobile app for mental health support targeting young adults

$ 280,000

Creating a renewable energy storage solution for residential use to minimize energy wastage

$ 250,000

Developing a Smart Agriculture IoT System to optimize crop yield and reduce waste

$ 300,000

Implementation of AI-driven medical diagnostic tools to improve patient outcomes

$ 325,000

Launch of a telehealth platform for remote healthcare services in rural areas

Eligibility

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.

Who is eligible?

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

Who is not eligible

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

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.

Eligible geographic areas

This grant focuses on companies within the Atlantic Canadian region including several specified provinces. Locations are chosen to bolster local development and innovation initiatives.

Nova Scotia
New Brunswick
Prince Edward Island
Newfoundland and Labrador

Selection 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.

How to apply

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.

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.

Additional information

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.

Contacts

1-888-576-4444

PE, Canada

Apply to this program

Frequently Asked Questions about the Atlantic Innovation Fund — Private Sector Businesses Program

Here are answers to the most common questions about the Atlantic Innovation Fund — Private Sector Businesses. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.

What is the Atlantic Innovation Fund — Private Sector Businesses?

How much funding can be received?

What expenses are eligible under Atlantic Innovation Fund — Private Sector Businesses?

The Atlantic Innovation Fund (AIF) is designed to stimulate the development and commercialization of new technology-based products, processes, and services for Atlantic Canada's markets. Eligible projects are specifically those that blend research and development (R&D) efforts with a significant prospect of commercialization. Creation and marketing of new products and services that align with global quality standards. Adaptation of new technology to address business needs or explore market opportunities.