Newfoundland and Labrador — Business Growth Program

• Non-repayable contributions up to 50% of eligible project costs.
• Maximum contribution of $200,000 per project over 24 months ($100,000 per year per company).
• Development and Commercialization projects may be considered for a higher maximum, normally up to $750,000 over multiple years at varying annual amounts.
• Total combined government assistance (provincial, federal, municipal) may not exceed 80% of total eligible project costs.
• A minimum 20% project contribution from the applicant is required.

• The applicant must be a growth-focused, innovative business (including sole proprietors, partnerships, or corporations) operating within Newfoundland and Labrador that demonstrates commercial viability.
• Co-operatives or non-profit organizations in Newfoundland and Labrador may also be eligible if they can generate commercial revenue or are pursuing international trade or economic development opportunities.
• The applicant must demonstrate the ability to undertake the proposed project.
• The applicant must show access to sufficient financial capital to complete the project.
• The applicant and project must be in good standing with the Government of Newfoundland and Labrador and the Canada Revenue Agency.

Who is eligible?

• Growth-focused, innovative firms operating within Newfoundland and Labrador
• Sole proprietorships, partnerships, or corporations demonstrating commercial viability
• Co-operatives in Newfoundland and Labrador able to generate commercial revenue or pursuing trade/economic opportunities
• Non-profit organizations in Newfoundland and Labrador able to generate commercial revenue or pursuing trade/economic opportunities
• Sector organizations participating in Department-led projects representing businesses

Who is not eligible

• Residential and commercial real estate services businesses.
• Wholesale companies.
• Beverage rooms and taverns.
• Professional service operations (with rare exceptions for unique cases).
• Cannabis producers, except for export market development projects (start-up and expansion projects are ineligible).

Eligible expenses

• Professional fees, including consultants and contractors essential to the project.
• Marketing expenses related to project activities and market development.
• Travel costs directly associated with market development, supported by a strategic plan with specific objectives.
• Technology investments or enhancements, including digitalization and adoption of digital technologies linked to productivity improvement and innovation.
• Expenses for knowledge and technical assistance addressing identified knowledge gaps that limit business productivity or competitiveness.
• Costs related to intellectual property protection, such as professional services for IP planning and relevant fees.

Eligible geographic areas

• Businesses operating within Newfoundland and Labrador.

• Demonstrated ability to undertake the proposed project.
• Demonstrated ability to access the financial capital required to complete the project.
• Potential economic benefits to the province from the project.
• Clarity and justification of project costs and sources of financing.

• Step 1: Contact an IET Representative
  • Reach out to the Industry, Energy and Technology (IET) office in your region to discuss your project proposal and gather specific program guidance.
• Step 2: Prepare Proposal and Application
  • Download the appropriate application form based on the type of project (Productivity Improvement and Innovation, Knowledge and Technical Assistance, Growth and Internationalization, or Development and Commercialization).
  • Develop a detailed project proposal following the format provided in the applicant guide.
  • Compile all required documents, such as the completed and signed application form, confirmation of funding sources, supporting budget quotes, two years of financial statements and projections, Certificate of Officers and Directors, and articles of incorporation (for incorporated companies), and confirmation of company shareholders, directors, and signing authorities.
• Step 3: Submit Application Package
  • Email the completed application form, project proposal, and supporting documents to the appropriate IET contact or regional office.
  • If assistance is needed, contact the IET by email at IET@gov.nl.ca or by phone at the relevant regional office.
• Step 4: Application Review and Follow-Up
  • The IET will review your submission and may request additional information or clarification.
  • Stay available for follow-up questions or discussion as the department evaluates your project.

• Applicants are required to be in good standing with the Government of Newfoundland and Labrador and the Canada Revenue Agency.
• Applicants must demonstrate the ability to access necessary financial capital for project completion.
• Additional information or clarification may be requested during the assessment process.
• Key collaborators, consultants, or contractors involved in the project should be identified and their roles explained in the proposal.