Type of Program:
Grants & Loan
The Atlantic Innovation Fund is helping Atlantic Canada compete at home and abroad by supporting the development of innovative products and services that lead to commercial success.
Comments on Funding:
Funding is up to 80% of total eligible costs for projects led by not-for-profit organizations. Contributions to not-for-profit organizations are non-repayable
Funding is up to 75% of total eligible costs for private-sector-led projects. Contributions to the private sector are conditionally repayable based on the commercial success of a project.
Eligible costs could include wages, salaries, capital costs and other operating expenses directly related to the project. The AIF assistance for eligible building and major renovation costs would not normally exceed 30% of the costs.
Funding for innovation project ranges from $500,000 to $3 million. Innovation projects of less than $500,000 may be eligible under ACOA’s Business Development Program.
When It Ends:
Applicant must be:
complete a Project Concept Template and submit it to the ACOA office nearest to them. ACOA will contact them to confirm receipt and to discuss their project.
complete and submit the Application for Financial Assistance form, once they have discussed their project with ACOA.
For-profit applicants must submit a completed application form and the following supporting documents:
Not-for-profit applicants and other applicants must submit a completed application form and the following supporting documents: