Type of Program:
The Innovation Voucher Fund (IVF) was designed to provide small and medium-sized businesses in New Brunswick with the scientific expertise and facilities they need to accelerate their growth through research and development (R&D). This includes new products or operational efficiencies.
Comments on Funding:
Funding is up to $80,000 to cover 80% of the cost of an R&D project.
Projects may range in size from $10,000 to $100,000, as to which NBIF will contribute up to a maximum of $80,000.
When It Ends:
The project must demonstrate a solid business case, strong market potential and commercial and financial feasibility, the ability to generate a sustained competitive advantage for the company, and the potential for economic impact on the province of New Brunswick.
submit a complete project proposal to NBIF. Successful applicants will be matched with the research professional(s) they require to carry out the innovation.
develop and submit a project work plan and budget to NBIF jointly with the collaborating researchers.
sign a contract agreement between all parties involved in the project.
Funds will be provided directly to the collaborating research organization under a contract agreement and used by the researcher to offset the eligible expenses that are incurred in relation to the project.
Any intellectual property (IP) created as a result of the project will be owned by the company that receives the voucher, and for the purposes that the IP was created unless otherwise agreed to by the company.
Applicants must submit:
Other Things to Note:
No other details available.