Atlantic Innovation Fund — Universities, Colleges and Research Institutions
Overview
Get a non-repayable contribution to develop a new technology-based product, process or service with strong potential for commercialization.
At a glance
Funding available
- Develop a new product
- Selling in a new market
- Marketing a product
- No Condition
- Archived
Eligible candidates
- Manufacturing
- Information and cultural industries
- Professional, scientific and technical services
- Educational services
- New Brunswick, Newfoundland and Labrador, Nova Scotia, Prince Edward Island
- Non-profit
- Public or Parapublic institution
- For-profit business
- All revenue ranges
- All organization sizes
- Canadians
- Startups
- Higher Education
- Research
- Economic, Social and Community Development
- Business Associations
- Business owners / entrepreneurs
- Nonprofits / charities
- Academia / students
- All structures
- Regional
- Provincial
- National
Activities funded
This grant supports large-scale projects that involve research and development with a strong potential for commercialization. The activities focus on the creation and marketing of new products and services, as well as adapting technologies to meet business and market needs.
- Creation and marketing of new products and services that meet demands and global quality standards.
- Adaptation of new technology to respond to market opportunities or business needs.
Eligibility
Eligibility for the Atlantic Innovation Fund grant is determined by specific requirements related to the type of organization applying.
- The applicant must be a private-sector business, including co-operatives.
- The applicant can be a college, university, or other post-secondary institution.
- Non-government research organizations are eligible.
- Provincial Crown corporations can apply.
Who is eligible?
To qualify for AIF funding, eligible recipients 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 (AIF) grant. Recipients NOT eligible for AIF funding include:
- Government organizations
- Non-profit organizations
Eligible expenses
The Atlantic Innovation Fund supports projects that emphasize research and development with a focus on commercialization in Atlantic Canada. These activities aim to foster collaboration, innovation, and economic growth through new technologies and market-ready solutions.
- Creation and marketing of new products and services that meet global quality standards and market demands.
- Adaptation of new technologies to fulfill business needs or respond to market opportunities.
Eligible geographic areas
The Atlantic Innovation Fund targets organizations located within the Atlantic Canada region. This aims to support the economic development and innovation capacity of these provinces.
- Nova Scotia
- New Brunswick
- Prince Edward Island
- Newfoundland and Labrador
Selection criteria
There are evaluation and selection criteria for the Atlantic Innovation Fund (AIF) grant:
- Projects must be large-scale with a strong possibility for commercialization and include an R&D element
- Recipients eligible for AIF funding include private-sector businesses, colleges, universities, non-government research organizations, and provincial Crown corporations
How to apply
Complete Project Concept Template
- Obtain the Project Concept Template from the Atlantic Canada Opportunities Agency (ACOA).
- Fill out the template with detailed project information.
- Submit the completed template to your nearest ACOA office.
- Await contact from ACOA to confirm receipt and discuss the project further.
Submit Application for Financial Assistance
- Engage in a discussion with ACOA about your project based on the submitted concept.
- Once advised, complete the Application for Financial Assistance.
- Submit the finalized application to ACOA for consideration.
Additional information
Here are additional relevant details for this grant:
- Business impact stories, such as those of Mark Kennedy and Chad House of Celtx, and Kinduct Technologies, highlight successful past recipients.
- To find past recipients and contributions of the AIF, the Open Government Portal site can be used where searches can be conducted using keywords like "AIF" or "Atlantic Innovation Fund."
