NBIF Innovation Voucher
NB, Canada
Funding for R&D at a New Brunswick research institution
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
- grant_single|projectCostPercent
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- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
Researchers And Facilities
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
- Manufacturing
- Information and cultural industries
- Professional, scientific and technical services
- Other services (except public administration)
grant_single|grantors
- New Brunswick Innovation Foundation
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grant_card_status|open
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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.
grant_single_labels|projects
There are eligible projects and activities for this grant:
- Development of a new product or technology
- Improvement of existing processes
- Prototype creation
- Product testing and evaluations
- Industrial engineering services
grant_single|admissibleProjectsExample
$80,000
Montreal
Creation of a prototype for a new eco-friendly water filtration system
$80,000
Vancouver
Development of automated packaging system for a local organic food supplier
$68,000
Edmonton
Product testing and evaluations for a new type of biodegradable packaging
$76,000
Ottawa
Industrial engineering services to optimize manufacturing processes for an electronics firm
$80,000
Calgary
Development of a new, energy-efficient HVAC system for schools
$73,600
Toronto
Improvement of recycling processes for an environmental cooperative initiative
grant_single_labels|admissibility
The eligibility criteria for this grant are:
- Provincially or federally incorporated and registered to carry on business in New Brunswick
- Have fewer than 500 employees
- Have 24 months operating history
grant_eligibility_criteria|who_can_apply
Eligible companies for the Innovation Voucher Fund must be provincially or federally incorporated and registered to carry on business in New Brunswick, have fewer than 500 employees, and have 24 months operating history.
- Provincially or federally incorporated and registered to carry on business in New Brunswick
- Have fewer than 500 employees
- Have 24 months operating history
grant_eligibility_criteria|who_cannot_apply
Some types of companies are not eligible for this grant. To be ineligible, the company must:
- Not be provincially or federally incorporated and registered to carry on business in New Brunswick
- Have more than 500 employees
- Have less than 24 months operating history
grant_eligibility_criteria|eligible_expenses
Eligible expenses for this grant include research and development services such as applied research, proof of concept, prototyping, product testing, and industrial/process engineering services.
- Applied research
- Proof of concept
- Prototyping
- Product testing
- Industrial/process engineering services
grant_eligibility_criteria|zone
There are specific types of companies that are not eligible for this grant:
- Companies that are not provincially or federally incorporated and registered to carry on business in New Brunswick
- Companies with more than 500 employees
- Companies with less than 24 months of operating history
grant_single_labels|criteria
The Innovation Voucher Fund has specific evaluation and selection criteria for grant applications:
- Project proposal must be innovative, have a solid business case, show strong market potential, demonstrate commercial and financial feasibility, and provide a sustained competitive advantage for the company.
- Companies must meet eligibility criteria including being provincially or federally incorporated in New Brunswick, having fewer than 500 employees, and 24 months of operating history.
- The potential economic impact on the province of New Brunswick is a vital criterion for evaluation.
grant_single_labels|register
- Step 1: Prepare the Project Proposal
- Provide an in-depth description of the proposed innovation
- Convince NBIF of the merit of the project
- Submit via the NBIF web portal
- Step 2: Wait for Project Approval
- If selected for funding, NBIF will assist in matching the company with a suitable researcher
- Step 3: Develop and Submit a Project Work Plan and Budget
- Jointly develop the plan with collaborating researchers
- State objectives, outcomes, and expected costs
- Upon review, NBIF will fund the project
- Step 4: Execute the Project
- Commence the project within 6 months of the award date
- Complete the project within 12 months
- Step 5: Fulfill Reporting Requirements
- Submit a written report 2 months post-project completion
- Submit a final report one year after project completion focusing on impacts on the business
grant_single_labels|otherInfo
- Applicants should note that the funding awarded through the Innovation Voucher Fund may only be used to cover eligible expenses as described unless otherwise approved by NBIF.
- Companies awarded funding must complete their project before submitting a new proposal to NBIF.
Apply to this program
Summary of the Innovation Voucher Fund
The Innovation Voucher Fund, administered by the New Brunswick Innovation Foundation (NBIF), aims to accelerate innovation within small and medium-sized enterprises (SMEs) in New Brunswick by providing financial support for collaborative projects with research organizations.
Understanding the Innovation Voucher Fund
The Innovation Voucher Fund is a unique opportunity for SMEs in New Brunswick to access scientific talent and facilities to develop and commercialize new innovations. The Fund, managed by NBIF, offers funding support of up to $80,000 for projects that demonstrate innovation, strong market potential, and economic impact on the province.
Eligible companies interested in developing new products, services, technologies, or processes can apply for an innovation voucher by submitting a project proposal showcasing a solid business case, commercial feasibility, and the ability to generate a sustained competitive advantage. Priority is given to companies operating in strategic industries like information and communication technology, biosciences, and energy.
The Fund covers 80% of total project costs, up to $80,000, with companies required to fund the remaining 20%. Successful applicants are matched with research professionals to conduct applied research, prototyping, and product testing. Eligible expenses include research and development services, while ineligible expenses encompass administrative fees, equipment purchases, and routine testing.
Applicants are not mandated to secure a researcher in advance, and projects must commence within six months of the award date. The company and collaborating researchers develop a project work plan and budget for NBIF approval. Any intellectual property generated during the project belongs to the company, and a company may not hold more than one Innovation Voucher at a time.
Reporting requirements include a written report due two months post-project completion and a final report after one year, detailing the project's impacts on the voucher company’s business. The Fund aims to boost innovation, competitiveness, and economic growth for SMEs in New Brunswick, fostering collaboration between industry and research organizations for mutual benefit.