Atlantic Innovation Fund — Universities, Colleges and Research Institutions
PE, Canada
Funding for R&D in Atlantic Canada
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- grant_single|noCondition
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- grant_single|timelineUnspecified
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Grant and Funding
grant_single|eligibleIndustries
- Manufacturing
- Information and cultural industries
- Professional, scientific and technical services
- Educational services
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- Atlantic Canada Opportunities Agency (ACOA)
- Government of Canada
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grant_card_status|open
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Get a non-repayable contribution to develop a new technology-based product, process or service with strong potential for commercialization.
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The grant focuses on fostering innovation within the Atlantic region of Canada. Eligible geographical areas include the provinces known for their involvement in regional development and economic initiatives.
- Nova Scotia
- New Brunswick
- Prince Edward Island
- Newfoundland and Labrador
grant_single|admissibleProjectsExample
$350,000
Create a mobile app for mental health support
$470,000
Develop a smart home energy management system
$600,000
Create a blockchain-based supply chain tracking system
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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.
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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.
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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
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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.
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The grant covers specific expenses directly related to research and development initiatives necessary for project commercialization and success.
- Personnel salaries and benefits for R&D roles engaged in the project.
- Costs associated with adapting new technology to business needs.
- Procurement of equipment and materials essential for R&D activities.
- Expenses for collaborative partnerships and networking related to the project.
- Travel and accommodation costs directly linked to project development and R&D.
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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
grant_single_labels|register
- Step 1: 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.
- Step 2: 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.
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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."
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1-888-576-4444
Apply to this program
Driving Innovation in Atlantic Canada
The Atlantic Innovation Fund (AIF) offers funding to facilitate the development and commercialization of new products and services, with a focus on fostering collaboration among researchers and innovative businesses. It is a key initiative by the Atlantic Canada Opportunities Agency (ACOA) to enhance the regional economy through technological and business advancements.
Unlocking Potential with the Atlantic Innovation Fund
The Atlantic Innovation Fund (AIF) plays a pivotal role in driving economic development within Atlantic Canada by targeting significant investments toward research and development projects. Administered by the Atlantic Canada Opportunities Agency (ACOA), the AIF is dedicated to fostering innovation through strategic financial support. This program is tailored to assist a variety of applicants, including private-sector businesses, academic institutions, non-government research organizations, and provincial Crown corporations, who are seeking to make meaningful contributions to the regional economy.
One of the remarkable aspects of the AIF is its emphasis on large-scale projects that not only involve research and development but also demonstrate a strong potential for commercialization. This dual focus ensures that projects are not only innovative but also economically viable, paving the way for job creation and sector growth. Moreover, the AIF encourages the adaptation of new technologies to meet evolving business demands and market opportunities, ensuring that Atlantic Canada remains competitive on the global stage.
Applicants interested in the AIF must begin the process by completing a Project Concept Template, initiating a crucial dialogue with the ACOA to refine their project prospective. Following this initial step, applicants are required to submit a formal application for financial assistance, marking a comprehensive process to ensure that funded projects meet established criteria and demonstrate potential for impact.
The AIF also aligns with broader strategic goals of enhancing research and commercial partnerships, which is essential in building a resilient economy. By supporting the creation and marketing of new products and services, the AIF contributes significantly to the dynamism of key sectors across the Atlantic provinces. This targeted approach helps address both current economic challenges and opportunities, positioning Atlantic Canadians to not only survive economic challenges but thrive in a competitive market.
Another critical component of the Atlantic Innovation Fund is the network of support it offers to participants. Beyond mere financial aid, the fund facilitates access to a wealth of knowledge and connections, linking innovators to strategic partners and technical resources that can amplify the project's success. This holistic support model is indispensable in propelling projects from concept to market, ensuring a higher rate of success and sustained economic impact.
The impact stories associated with the AIF further illustrate its profound influence on the regional economy. Companies like Celtx and Kinduct Technologies have thrived under the aegis of this fund, exemplifying how strategic financial support can translate into industry-leading success. These stories not only serve as inspiration but also validate the effectiveness of the AIF in nurturing trailblazing innovations within Atlantic Canada.
In conclusion, the Atlantic Innovation Fund is more than a financial support mechanism; it's a catalyst for innovation and economic growth in Atlantic Canada. By strategically investing in projects that combine R&D prowess with commercialization potential, the AIF ensures that the region remains a hotbed for innovation, effectively building a future that leverages technology and research for economic betterment. Prospective applicants are encouraged to engage with the AIF to realize their innovative visions, thereby contributing to a robust and dynamic Atlantic Canadian economy.
