Life Sciences Fund

Who is eligible?

• Canadian businesses
• Academic, research and other public institutions
• Not-for-profit corporations
• Incubators and accelerators participating in collaborative research, technology development and commercialization activities

Eligible expenses

• Direct labour costs
• Direct materials and equipment costs
• Other direct costs
• Overhead costs, subject to program limits
• Subcontracts and consultants' costs

Ineligible Costs and Activities

• Advertising, except reasonable advertising of an industrial or institutional character placed in trade, technical or professional journals for the dissemination of information for the industry or institution
• Allowance for interest on invested capital, bonds, debentures, bank or other loans together with related bond discounts and finance charges
• Amortization of unrealized appreciation of assets, compensation for officers and employees that is unreasonable, and depreciation of assets
• Donations, dues and other memberships other than regular trade and professional associations, entertainment expenses, fines and penalties, losses on investments, bad debts and collection charges, losses on other projects or contracts, and premiums for life insurance on the lives of officers and/or directors
• Product development or improvement expenses not associated with the project, provisions for contingencies, selling and marketing expenses associated with the products or services or both being developed as a part of this project, and taxes including excess profit taxes or surtaxes, federal or provincial income taxes, goods and services taxes, and special expenses in connection with those taxes

• Request a meeting with LSF officials by email at lifesciencesfund-fondsdessciencesdelavie@ised-isde.gc.ca before being invited to apply.
• If invited following the meeting, submit a Statement of Interest.
• If invited after the Statement of Interest, submit a Full Application.

• After receiving the Statement of Interest, LSF officials acknowledge receipt, provide contact information for follow-ups, and assess the information provided.
• After evaluation, applicants may receive a request for additional information, an invitation to the Full Application phase, or notice that the proposal will not be further considered.
• If the proposed project passes due diligence, the LSF enters negotiations to develop a funding agreement.
• The funding agreement may include milestones and commitments with respect to benefits and future activities.