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Business Investment Fund – Business Investment Program

by Maurice | February 6, 2023

Amount:

$1,000,000.00

Type of Program:

Loan & Investment

Description:

The Business Investment Program provides term loans and equity investments to Newfoundland and Labrador SMEs in strategic growth sectors as identified by Industry, Energy and Technology (IET). The fund is also available to businesses which have export potential and require assistance to enter or expand in external markets.

Funds are provided to complement funding from conventional sources, where a need has been demonstrated, and are also intended to increase the capital base of businesses allowing them to leverage new private-sector investments.

Comments on Funding:

Funding is in the form of repayable term loans at the department's base rate of 4,5%.

Equity funding is in the form of redeemable preferred shares to a maximum of $500,000 per project and a maximum aggregate of $1 million is available.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

be a SME based and operating in Newfoundland and Labrador having fewer than 100 employees and less than $10 million in sales,
demonstrate its ability to undertake the work identified in the project proposal,
demonstrate its ability to access the financial capital required to complete the project,
operate in a strategic sector as defined by IET,
be in good standing with the Government of Newfoundland and Labrador.

Strategic sectors: Advanced Technologies, Aerospace, Agri-foods, food and beverage, Aquaculture, Biotechnology and Life Sciences, Craft, Gift and Apparel, Energy, Environmental Industries, Fishery (excludes fish harvesting and primary processing), Forest Products, Information and Communications, Technology, Manufacturing, Ocean Technology, Mineral Resources, Natural Stone, and Tourism and Cultural Industries.

Application Steps:

The applicant must submit a signed, completed application with supporting documentation to the office of Industry, Energy and Technology (IET) in his area.

Documentation Needed:

The applicant must submit:

the application form,
a business plan and project summary & Benefits,
financial statements for the current and previous two to five years of operation including notes to the financial statements and the most recent interim statements. If a proprietorship, include recent and previous two to five years personal income tax returns including CRA T2125 form and Notice of Assessment, if an existing business,
a copy of the Articles of Incorporation,
a Personal Net Worth Statement for all shareholders and key management personnel (loans/equity investments only),
a Cash Flow Statement and pro forma statements for the next two to five years including Balance Sheet and Income Statement with detailed assumptions supporting revenue forecasts, if an existing business,
Income Statement and Opening Balance Sheet, a Cash Flow Statement and pro forma statements for the next two years including Balance Sheet and Income Statement with detailed assumptions supporting revenue forecasts, if a new business,
any supplementary information that may be relevant to his operation.

For larger, more complex projects a more detailed Business Plan, a Feasibility Study and/or Market Study may be required.

Program Contact:

Business Investment Program

Application for Assistance

Sponsorship Program

by Maurice | February 6, 2023

Amount:

No Fixed Amount

Type of Program:

Grants

Description:

The Sponsorship Program is designed to foster and promote the development and growth of the local film and video industry participants. It provides funding to individuals, corporations, cooperatives and not-for-profit organizations (including sectoral and service organizations) whose principle activity is in the film and video industry through three distinct programs.

The Promotional Travel Sub-Program provides funds to applicants to assist with travel-related expenses to market their products globally.

The Marketing and Distribution Sub-Program provides funds to assist with marketing-related expenses to market their products or for receptions related to marketing of these products.
The Workshop Assistance Sub-Program provides assistance to develop the local skill base.

Comments on Funding:

Funding for Travel Sponsorships is a 50% reimbursement up to a maximum of $2,000.
Funding is up to $2,000 for Professional Learning Sponsorships.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

be individuals, corporations, cooperatives and not-for-profit organizations (including sectoral and service organizations),
have their principal activity in the film and video industry,
demonstrate that their primary focus is on the development, production and distribution of film and video products, if corporations, cooperatives or not-for-profit organizations,
be at least 51% owned by a resident or residents of Newfoundland and Labrador (a person who has maintained a principal residence in Newfoundland and Labrador for at least 12 consecutive months immediately prior to the date of application to a funding program), if corporations,
have been registered or incorporated in Newfoundland and Labrador for at least one year prior to application, if cooperatives or not-for-profit organizations.
be Canadian citizens or permanent residents of Canada, if individuals,
be 18 years old or older or hold post-secondary standing, if individuals,
have earned a portion of their income from their film and video activities, if individuals,
be recognized as “professional” by their peers, if individuals.

Application Steps:

Applicant must submit the application form and the supporting documents,

Applicant must submit a brief report, expense claims and corresponding receipts on related activities within 30 days of completion of the activity before the disbursement of any funds.

Documentation Needed:

Applicant must submit:

a completed application form,
a written request for funds addressed to Executive Director,
detailed budget illustrating expenses and sources of confirmed or anticipated funds and contributions.

Additional documents if applying for the Promotional Travel Sub-Program:

the applicant's Resume,
detailed information on the activity,
evidence of the invitation to or registration at the event,
a travel schedule.

Additional documents if applying for the Marketing and Distribution Sub-Program:

detailed information on the project,
schedule of activities,
a marketing and distribution plan, including objectives.

Additional documents if applying for the Workshop Assistance Sub-Program:

Resume of the resource person(s),
detailed information on the courses being offered,
curriculum plan for the course, including objectives of skills to be learned,
number of potential participants per workshop,
fees charged to participants.

Program Contact:

Sponsorship - Newfoundland & Labrador Film Development Corporation

Sponsorship-Application.docx

Innovate to Opportunity Hiring Incentive

by Maurice | February 6, 2023

Amount:

No Fixed Amount

Type of Program:

Subsidy

Description:

Innovate to Opportunity (ITO) is providing Nova Scotia SMEs an incentive to hire recent masters and PhD grads for jobs that are focused on research and innovation that will help businesses begin, prepare for, or expand exports.

Employers can receive salary incentives in one of two streams: Innovation Stream, where the new graduate's work should be expected to help the company prepare for, begin or expand exports, or Advanced Innovation Stream, where his work must also have an explicit connection to export development or growth.

Comments on Funding:

Funding under the Innovation Stream is 35% of the graduate’s annual salary in Year 1, 20% in Year 2 and 12.5% in Year 3, up to an annual salary of $100,000.

Funding under the Advanced Innovation Stream is 50% of the graduate’s annual salary in Year 1, 25% in Year 2, and 12.5% in Year 3, up to an annual salary of $100,000.

A diversity bonus of an additional 10% can be provided in the 1st and 2nd years of both streams, if the graduate is a woman in an under-represented occupation, self-identifies as a racially visible minority, is Mi’kmaq or Indigenous, an international student or a person with a disability.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The company must:

be a Nova Scotia operating SME,
have up to 500 full-time employees,
create a full-time position focused on innovation and pay a minimum annual salary of $60,000.

The new hire must:

have successfully completed a master’s or PhD program at a recognized university within a year of the date the employer’s application is received.

Application Steps:

The applicant must:

complete the online application form.

Documentation Needed:

Applicants must submit alongside the application form:

1
a description of their organization and its mandate,
2
contact details of a person at their organization who will be responsible for the agreement,
3
a job description for the new position you wish to create, as well as its location,
4
a T4 Summary or other documentation to show the number of employees,
5
a complete Innovation Plan.

Once the chosen graduate is hired, the employer must submit the following three documents to the Youth Initiatives Program Agreement Manager:

1
a copy of the graduate’s degree or a letter from the respective university confirming that they have completed all program requirements, and the date of their convocation.
2
a signed copy of the graduates’ employment letter of offer between your organization and the graduate, including the following information: salary, permanent/full-time Employment, new position, start date, signatures of the graduate (new hire) and employer
3
a completed Graduate Information Form, which can be downloaded from the Innovate to Opportunity Program website. This is where the new hire has an opportunity to self-identify as aboriginal Canadian, a visible minority, a person with a disability, a woman in an under-represented occupation or an international graduate, which would make the employer eligible to receive an additional 10% diversity bonus in the first and second year.

Other Things to Note:

Issue Date: October 2022 (Guidelines)

Program Contact:

Innovate to Opportunity hiring incentive

Innovate_to_Opportunity_Book.pdf

Seafood Accelerator Program: Market Access Food Safety Program

by Maurice | February 6, 2023

Amount:

$15,000

Type of Program:

Grants

Description:

The Market Access Food Safety Program assists companies to overcome a specific food safety requirement or obstacle that is preventing them from entering a new market, or in keeping markets open when requirements change.

Specifically, this program will support a limited number of companies with: obtaining Global Food Safety Initiative (GSFI) certification which will in turn open more export markets, and meeting the food safety requirements of new markets to support market entry or market expansion.

Comments on Funding:

Funding is up to a maximum of $15,000 per applicant and based on scope and deliverables.
Projects are cost-shared to a maximum of 50/50 with applicants.
Applicants must pay a percentage of their contribution for the project to begin, depending on total project costs.

When It Ends:

Ongoing

Deadline:

March 31, 2023

Eligibility:

The applicant must:

have a head office and licensed seafood processing facility in Nova Scotia,
demonstrate they are meeting the current federal and provincial inspection, regulation and licensing requirements,
have controls in place to ensure the product is handled properly during processing and results in a final product that is not tainted, decomposed, or unwholesome,
not be in contravention of provincial or federal laws related to the fishery.

Application Steps:

submit the completed Market Access Food Safety application online or by email at seafood@perennia.ca,

provide further information if required,

be able to provide a down payment before work begins.

Scheduling of the project may begin immediately upon application approval with a signed quote and project plan.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

Perennia Food and Agriculture Inc. is a provincial development agency with the mission to help farmers, fishermen and food processors be more prosperous and profitable. It is Nova Scotia’s only technical development agency focused solely on the food sector and maximizing its value.
This program is funded under the provincial Building for Tomorrow Fund and is available until March 31, 2023. Intake is ongoing while funds are available. Projects must be completed by March 31 in the year they are approved, so early application is recommended.

Program Contact:

Market Access Food Safety Program

Nova Scotia Seafood Accelerator Program

Export Trade Assistance

by Maurice | February 6, 2023

Amount:

$3,000.00

Type of Program:

Grants

Description:

The Export Trade Assistance provides a grant to active exporters and export ready companies on Prince Edward Island. Support may be available for Innovation PEI’s Global Trade coordinated trade activities, including virtual trade initiatives, focused on international and domestic exporting; and bringing buyers and business partners to Prince Edward Island to strengthen business relationships or close sales.

Comments on Funding:

Funding for travel related activity is up to 40% of pre-determined eligible costs for participation in approved Innovation PEI Global Trade coordinated trade activities, including outbound trade missions and trade shows.

Funding for virtual trade activity is up to 40% of pre-determined eligible costs, to a maximum Innovation PEI contribution of $3,000, to assist a business to prepare for and participate in Innovation PEI Global Trade coordinated activities within the virtual trade environment resulting from COVID-19.

Funding for incoming buyers assistance is up 75% of pre-determined eligible costs, to a maximum Innovation PEI contribution of $3000, to bring a qualified buyer/partner to the province for a facility visit or familiarization tour.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

be active exporters and export ready companies,
be registered to conduct business and actively operating in Prince Edward Island,
export products and/or services that they manufacture, process, or develop primarily for export,
operate within one of these strategic sectors: bioscience, aerospace and defense, advanced manufacturing and processing, food, seafood, beverage processors/manufacturers, renewable energy and clean technology, information and communications technology, professional services and creative and cultural industries, (First-of-its-kind exportable services in other sectors may be considered),
not have a defaulted outstanding debt obligation on file in the Province’s Central Default Registry.

Application Steps:

are encouraged to consult with an Innovation PEI Trade Development Officer for guidance on the suitability of the project and the application process,

must submit their application forms to be reviewed by Innovation PEI before any financial or legal commitment is made on the project,

Documentation Needed:

The applicant must submit:

1
the online application form,
2
a description of the business and an outline of its history,
3
annual sales and market details,
4
a description of the proposed project or activity in relation to the products and/or services delivered by the business,
5
a detailed description of the economic benefits to the organization and to Prince Edward Island,
6
detailed budget of estimated costs of the proposed project or activity (cost estimates should be supported by written quotations),
7
export details i.e. per cent of business is export, largest export markets (3), markets of interest.

Other Things to Note:

Incoming Buyers Assistance program became part of this program.

Program Contact:

Export Trade Assistance

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