Atlantic Canada Business Grants

Fisheries and Aquaculture

Start-Up Yard at COVE

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Amount:

No Fixed Amount

Type of Program:

Grants, In-Kind Support

Description:

Start-Up Yard is the incubation facility at COVE (Centre for Ocean Ventures and Entrepreneurship). They help early stage companies commercialize their ocean technologies and succeed in the global marketplace. Start-ups grow stronger, faster with their acceleration programs, incubation space and services, funding, shared equipment, expertise, mentoring and wharf access. 

Comments on Funding:

No details available.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

Applicants must be early stage companies in Ocean Tech.

Application Steps:

Applicants must contact them by phone at 902.424.8670 x 1123 or email at info@investnovascotia.ca.

Documentation Needed: 

No specific documentation has been identified.

Program Contact:

Start-Up Yard at COVE

PEI Fisheries and Aquaculture Clean Technology Adoption Program (PEIFACTAP)

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  • This program is currently closed.

Amount:

No Fixed Amount

Type of Program:

Grants

Description:

The Prince Edward Island Fisheries and Aquaculture Clean Technology Adoption Program (PEIFACTAP) provides funding to Indigenous organizations, commercial enterprises and industry or professional associations in the fisheries and aquaculture sectors of PEI to adopt and implement market-ready clean technologies, processes or sustainable practices to reduce the potential for negative environmental impacts from day-to-day activities. PEIFACTAP participants can apply either as a Fisher/Harvester, Grower or as a Processor.

Comments on Funding:

Total government funding cannot exceed 90% of total eligible projects costs and consists of:

  • a minimum of 10%, up to a maximum of $20,000, cash from PEIFACTAP,
  • up to 75% cash from Department of Fisheries and Oceans Canada (DFO) FACTAP,
  • optional 5% cash or in-kind contribution from other federal or provincial government sources (more if PEIFACTAP reached the maximum of $20,000 and/or if DFO FACTAP is less than 75%).

The applicant is responsible for a minimum of 10% cash of total eligible project costs (more if total government funding is less than 90%).

Financial leverage from other sources outside PEIFACTAP and DFO FACTAP is a key consideration. Projects with multiple and greater sources of funding may rank higher than those without.

When It Ends:

Closed

Deadline:

March 31, 2021

Eligibility:

The applicant must:

  • be an Indigenous organization (group, association, or community),
  • be a commercial enterprise (company or self-employed),
  • be an industry or professional association representing a sector of the seafood industry,
  • be currently active in, or support activities related to, the fish and seafood sectors including: wild capture fisheries, aquaculture, and/or processing of fisheries products.

Application Steps:

The applicant must go through a two-step approach to apply for funding (i.e., PEIFACTAP and DFO FACTAP).

1

The Expression of Interest Process allows the applicant to work with the DFC and the DFO to discuss the project proposal and ask questions in relation to the program while will allow the PEIFACTAP to assess if the applicant meets the objectives and eligibility criteria. Once the Expression of Interest form has been received and reviewed by the DFC, a letter of financial support will be provided if the DFC deems the project to contribute to program outcomes. The DFC will then advise the applicant to proceed with 

2

The Project Proposal Application Process entails the email submission of the already completed Expression of Interest form, the PEIFACTAP letter of financial support, a completed Project Proposal Template application and any additional documentation required from the Additional Document Appendices in the Project Proposal Template application to the DFO Regional Project Coordinator. If the project is approved for funding by the DFO, a contribution agreement will be provided. Only once the DFO contribution agreement is signed and a copy provided to the DFC, will the DFC provide a contract and letter of offer to allocate funding as described in the letter of financial support.

Documentation Needed: 

​The applicant must submit:

  •  the Expression of Interest form, 
  • a completed Project Proposal Template application,
  • any additional documentation required. 

Other Things to Note:

Funding will expire March 31, 2021, and all projects must be completed by that time.
The program is not listed among Innovation PEI programs. However, the government webpage, which has not been updated since August 1, 2019, is still available. 

Program Contact:

​PEI Fisheries and Aquaculture Clean Technology Adoption Program

​PRINCE EDWARD ISLAND FISHERIES AND AQUACULTURE CLEAN TECHNOLOGY ADOPTION PROGRAM​​​

Live Lobster Holding Assistance

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  • This program is currently closed.

Amount:

$50,000

Type of Program:

Grants

Description:

The Live Lobster Holding Assistance is designed to address space issues and to manage the market supply of live and processed lobsters on PEI. Through this program, government can provide financial help for the building and growth of land based live lobster holding facilities.

Comments on Funding:

Funding is a 10% non-repayable contribution towards eligible project costs, to a maximum of $50,000 per company, during a 12 month period. 

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • existing participants in the PEI Lobster Fishery as a processor, commercial fisher or buyer,
  • a registered sole proprietorship, partnership, cooperative or corporation. 

Application Steps:

1

Applicant must submit their application form and supporting documents before any financial or legal commitment is made on the project.

2

Only one application per project will be considered and any second or subsequent applications will not be accepted while an approved project is in progress. 

Documentation Needed: 

The applicant must submit:

  • an application form,
  • a comprehensive business plan that supports the feasibility of the proposed system, includes market research, and identifies the overall effect the project will have on the PEI Lobster Industry

Other Things to Note:

The program is not listed among Innovation PEI programs. 

Program Contact:

All Programs - Innovation PEI

Aquaculture Working Capital Loan Guarantee Program

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  • This program is currently closed.

Amount:

No Fixed Amount

Type of Program:

Loan Guarantee

Description:

The Aquaculture Working Capital Loan Guarantee Program is designed to facilitate improved access to financing for incorporated enterprises operating in or proposing to operate in the finfish industry.

When It Ends:

Closed

Deadline:

Rolling deadline

Eligibility:

The applicant must:

  • be an incorporated enterprise operating in or proposing to operate in the finfish industry,
  • be currently involved or proposing to become involved in the commercial scale production of finfish at a Newfoundland and Labrador site licensed and approved by the Department of Fisheries and Aquaculture,
  • provide a business plan which includes information as requested by Government in the Business Plan Guidelines,
  • clearly demonstrate, through its business plan a strong potential for sustainable employment opportunities, incremental production and increased sales, and long-term commercial viability,
  • clearly demonstrate, to the satisfaction of Government, a definite need for Government financial assistance by way of an equity investment; that the equity investment is complementary to and levers to the maximum extent possible other sources of financing; and that the project could not proceed on a commercially viable basis without Government participation,
  • have all necessary licenses and regulatory approvals, to the satisfaction of Government,
  • be in good financial and legal standing with Government,
  • clearly demonstrate that management has the required technical, financial, marketing and managerial expertise for the operation of a commercial-scale aquaculture enterprise,
  • if an existing operator, have at the date of application a minimum private sector equity position equivalent to 20% of the total assets, evidenced by externally prepared (minimum review engagement) financial statements for the last fiscal year, updated to the date of application if requested by Government,
  • if the enterprise is a new operation, have a private sector equity investment equivalent to 20% of total program costs.

Application Steps:

1

Prospective applicants to the Aquaculture Working Capital Loan Guarantee Program should contact the Department of Fisheries and Aquaculture.

Documentation Needed: 

The applicant must submit:

  • a completed application form, 
  • a business plan including ownership, marketing, financial and technical details,
  • Auditor-prepared financial statements for the past 3 years of operations, if the applicant is an existing operation,
  • Pro Forma Income Statements and Balance Sheets on a monthly basis for the first year, and on an annual basis for the next 4 years, including all assumptions,
  • Projected Monthly Cash Flow Statements for the first 5 years of operations, including all assumptions,
  • a project plan covering a five year period,
  • other supporting documents.

Other Things to Note:

The program is not listed among programs and services of the Fisheries, Forestry and Agriculture department.

Program Contact:

Programs and Services

Fisheries Loans (New Entrant Loan)

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  • This program is currently closed.

Amount:

No Fixed Amount

Type of Program:

Loan

Description:

The Fisheries Loans (New Entrant Loan) provides financial assistance in the form of loans to New Brunswick new entrant fishers. Direct loans may be provided to finance viable projects for the construction, purchase or repairs of commercial fishing vessels, as well as for the replacement of motors and fishing equipment. 

Comments on Funding:

Funding takes the form of a direct loan.
The annual interest rate is the provincial lending rate.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • be a new entrant New Brunswick fisher (defined as an individual who has never owned a vessel-based commercial fishing license) organized as a sole proprietorship, a partnership, an incorporated company or to be incorporated, or a cooperative,
  • have acceptable knowledge of fishing and business skills, and an acceptable credit history,
  • invest, or have invested, 5% of the amount of the loan,
  • provide acceptable security for the proposed financing,
  • have a business plan that shows reasonable chances of viability and that demonstrates that a demand exists for the product(s),
  • work on a project that fits with the province’s sector strategies (in terms of impact on marine resources, jobs, export sales, markets, etc.).

Documentation Needed: 

Applicants must submit:

  • a completed application form,
  • a business plan.

Program Contact:

​Fisheries Loans (New Entrant Loan)

​FISHERIES DEVELOPMENT BOARD​​​