How much funding can be received?

<p>Get a grant of up to $80,000, paid directly to the research institute, to cover 80% of the costs of R&D services such as applied research, proof of concept and prototyping, product testing and demos, and more.</p>

grant_single_labels|terms_and_conditions

This grant equips small and medium-sized enterprises with substantial financial support to foster collaboration with research organizations and drive innovation projects. The financial structure emphasizes both significant external funding contributions and commitments from the businesses themselves.

The Fund covers 80% of total project costs, up to a maximum of $80,000 for the first two vouchers.
Following the initial two vouchers, potential additional vouchers provide up to 50% funding, capped at $50,000.
The grant requires companies to cover the remaining project costs (20% initially, 50% for additional vouchers).
Non-repayable funds are dispensed directly to collaborating research organizations for the project.
Funds must be strictly utilized for eligible expenses related to research and development services.
Ineligible costs include administrative fees, in-house personnel expenses, and basic professional services.

grant_single_labels|projects

The NBIF Innovation Voucher Fund supports projects that drive innovation through applied research and collaboration between SMEs and research organizations. Projects should focus on developing and commercializing new or improved products, processes, or technologies that boost competitiveness and profitability.

Applied research to develop new innovations.
Proof of concept for innovative ideas.
Prototyping new products or technologies.
Product testing to ensure feasibility and performance.
Product demonstrations to showcase new innovations.
Product evaluations and certifications to comply with industry standards.
Industrial and process engineering services for enhanced productivity.
Provision of scientific or technology-related advice and support.

grant_single|admissibleProjectsExample

$ 80,000

Creation of a prototype for a new eco-friendly water filtration system

$ 80,000

Development of automated packaging system for a local organic food supplier

$ 68,000

Product testing and evaluations for a new type of biodegradable packaging

$ 76,000

Industrial engineering services to optimize manufacturing processes for an electronics firm

$ 80,000

Development of a new, energy-efficient HVAC system for schools

$ 73,600

Improvement of recycling processes for an environmental cooperative initiative

grant_single_labels|admissibility

Eligibility for this grant is contingent upon meeting certain criteria related to the company’s registration, size, and operational history.

The company must be provincially or federally incorporated and registered to carry on business in New Brunswick.
The company must have fewer than 500 employees.
The company must have a 24-month operating history.

grant_eligibility_criteria|who_can_apply

The Innovation Voucher Fund is specifically designed for small and medium-sized enterprises (SMEs) operating within the province of New Brunswick. To be eligible, these businesses need to demonstrate a commitment to innovation and have a strategic focus on expanding through knowledge and technology. The Fund aims to support those SMEs that wish to engage research organizations to aid in developing and commercializing new or improved products, processes, or services.Eligible companies must:- Be provincially or federally incorporated and registered to carry on business in New Brunswick.- Have fewer than 500 employees.- Have at least 24 months of operating history.While the Fund is open to eligible companies across various industries, priority will be given to those in New Brunswick Innovation Foundation’s strategic sectors such as information and communication technology, industrial fabrication, biosciences, value-added wood, value-added food, aerospace and defense, and energy.

grant_eligibility_criteria|who_cannot_apply

The grant does not specify explicit exclusions based on company types or industries apart from general eligibility criteria. It appears open to all industries within New Brunswick, with priority given to certain strategic sectors.

grant_eligibility_criteria|eligible_expenses

The grant supports small and medium-sized enterprises (SMEs) in New Brunswick to collaborate with research organizations for innovative projects. Eligible activities focus on various stages of research and development to advance new or improved products, processes, or technologies.

Applied research projects for innovation development.
Proof of concept endeavors to validate innovative ideas.
Prototyping of new products or technologies.
Product testing to ensure quality and effectiveness.
Product demonstrations showcasing innovative solutions.
Product evaluations and certifications to meet industry standards.
Industrial or process engineering services to optimize operations.
Scientific and technology-related advice and support for new initiatives.

grant_eligibility_criteria|zone

This grant specifically targets small and medium-sized enterprises (SMEs) operating within a specific Canadian province to foster regional growth. Eligible geographical areas are restricted to ensure that they align with the local economic development priorities.

Corporations that are provincially or federally incorporated and registered to carry on business in New Brunswick.

grant_single_labels|criteria

The evaluation and selection of projects for the Innovation Voucher Fund are based on specific criteria to ensure they fulfill the objectives of the fund, such as fostering collaboration with research organizations and enhancing SME competitiveness through innovation.

Innovation: Projects must introduce a new or significantly improved product, process, or service demonstrating originality and inventiveness.
Business Case: A strong, well-developed business case illustrating the viability and sustainability of the project.
Market Potential: Clear evidence of strong market demand and potential for commercial success.
Feasibility: Demonstrated commercial and financial feasibility of the project, showing that it can be successfully developed and implemented.
Competitive Advantage: The ability of the project to generate a sustained competitive advantage for the company.
Economic Impact: Potential for generating significant economic benefits for the Province of New Brunswick.

grant_single_labels|register

Here are the steps to submit an application for this grant:

Step 1: Preliminary Registration
- Create an account on the NBIF web portal at https://nbif-finb.smapply.io/prog/innovation_voucher_fund/.
- Log in to the account to start the application process.
Step 2: Prepare Project Proposal
- Craft a non-confidential executive summary of the proposed project.
- Include a detailed company history and current operational status.
- Describe the proposed innovation, emphasizing its novelty and merit.
- Identify the problem, need, or opportunity the innovation addresses.
- Outline the current state of development of the innovation.
- Detail the key team members and advisors who will be involved in the project.
- Highlight the expected benefits to the company, such as sales and profitability increases.
- Analyze the competitive landscape relevant to the project.
- Define project goals, timelines, milestones, and anticipated costs.
- Assess the existing facilities and resources available to support the project.
- Specify the talent, expertise, and facilities required for the project.
- Discuss potential economic benefits to the Province of New Brunswick.
Step 3: Submit Application
- Log into the NBIF web portal to upload your project proposal and all required information.
- Ensure all details are accurately filled out before submission.
- Submit the application electronically through the NBIF web portal.
Step 4: Confirmation and Follow-up
- Receive confirmation that your application has been submitted.
- Retain any confirmation email or receipt for your records.

grant_single_labels|otherInfo

Here is additional relevant detail for this grant:

Intellectual property created as a result of the project will be owned by the company that receives the voucher, unless otherwise agreed upon by the company.