Type of Program:
The Innovation Rebate Program (IRP) provides financial incentives for projects that assist Nova Scotia companies as they scale to increase their competitiveness. The program supports companies as they innovate, drive productivity, increase production capacity, and adopt cleaner and more sustainable approaches to growth across Nova Scotia. The Innovation Rebate Program works as a rebate against a company’s direct costs.
Comments on Funding:
"Funding is a rebate of 25% of Eligible Project Costs. The maximum Rebate Amount for an Eligible Project, including related parties, cannot exceed $3,750,000. The Eligible Rebate Amount, including conditions for earning additional IRP rebate amounts, will be identified upon approval of the Eligible Project and provided in the Letter of Offer.
When It Ends:
The applicant must:
complete and submit an application to the Invest Nova Scotia Regional Business Development Advisor for their region;
receive a Letter of Offer which will outline the terms of the rebate, if the project approved.
Applicants must submit:
- 1the completed application form, which will include project timelines, identification of key technical and management resources, budgets, anticipated impacts of the project on the Company’s sustainability, and/or competitiveness in global markets;
- 2schedule of Eligible Project Costs;
- 3historical financial statements of the Company and any additional financial information, as required by Invest Nova Scotia, to assess the financial viability of the Company;
- 4any other information required by Invest Nova Scotia to evaluate the request.
Other Things to Note:
Applications are accepted on an ongoing basis. Projects must be completed within 3 years from the date an application is approved.