New Brunswick Innovation Foundation

Research Assistantships Initiative (RAI)

Amount:

$60,000.00

Type of Program:

Wage Subsidy

Description:

The Research Assistantships Initiative (RAI) provides applied researchers funding to hire undergraduate and graduate student research assistants. Funding is advanced to the college or university first, and then paid out to the student(s) in the form of a salary, award, or stipend.

Comments on Funding:

Funding is in the form of stipends of up to $7,500 per undergraduate, and up to $15,000 per graduate. A maximum of up to $60,000 may be requested in each application.

When It Ends:

Ongoing

Deadline:

February 7, 2022

Eligibility:

The applicants must:

be universities, colleges or applied researchers.
hire undergraduate and graduate student research assistants.

Application Steps:

Applicants should apply through the NBIF Research Portal

Documentation Needed:

Applicants must submit the application form.

Other Things to Note:

The duration of the award is two years.

Program Contact:

Research Assistantships Initiative (RAI)

Talent Recruitment Fund

Amount:

$100,000.00

Type of Program:

Award

Description:

Talent Recruitment Fund is intended to help institutions recruit or retain promising early stage researchers into faculty / independent researcher positions. This award is intended to foster excellence in applied research, and to support those research programs with the potential for significant economic impact (direct or indirect) for the province of NB.

Comments on Funding:

The minimum award size is $30,000 and the maximum award size is $100,000. NBIF expects the normal award size to be $55,000 and the institution will need to justify any deviation away from this normal.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The candidate for the award:

must not yet have agreed to take up the role for which the institution is applying,
may or may not already be working at the institution and may occupy the position that the award is requested for - only if they occupy the position in a temporary capacity.

The applicant must:

be an institution,
retain or recruit promising early stage researchers into faculty / independent researcher positions,
apply for a role that is:

full-time and physically based in nb,
at least 3 years in duration, and with a reasonable expectation that the role will become permanent in the future,
a faculty position. post-doctoral fellowships are not eligible (for universities),
the primary purpose of the role is to conduct research (and not, for example, to teach),
permits the individual to engage in independent research activities that are not under the direction of another researcher,

Application Steps:

Applicants should apply through the NBIF Research Portal

Documentation Needed:

Applicants must submit the application form.

Other Things to Note:

The award end date is 2 years later, at which point all the funding must be exhausted. Any unspent funding remaining after the award end date must be returned to NBIF.

Program Contact:

Talent Recruitment Fund - NBIF

Talent Recruitment Fund - Application Portal

Equipment Fund

Amount:

$150,000.00

Type of Program:

Grant

Description:

The Equipment Fund aims to increase the province’s applied research capacity by supporting the purchase of equipment. Up to 33% of the equipment cost may be requested, understanding that requests to NBIF may be no larger than $150,000. This fund may be used to leverage federal programs for research equipment (e.g. NSERC RTI) or it may leverage other source of funds.

Comments on Funding:

Funding is up to 33% of the equipment cost up to a maximum of $150,000. The matching portion of the funding may be cash or in-kind contributions (including institutional contributions) but cannot be from another provincial government source.

When It Ends:

Ongoing

Deadline:

February 23, 2022

Eligibility:

The applicant must:

be a researcher,
use the funding for the purchase of equipment (both hardware and software) directly linked to the research program,
show that the equipment will broadly benefit New Brunswick, that it will help produce new IP which the researcher intends to commercialize, that the knowledge generated will be shared outside academia, and that the researcher and their team are able to do the work proposed,
start the project within 18 months of the decision date, if accepted.

Application Steps:

Applicants should apply through the NBIF Research Portal

Documentation Needed:

Applicants must submit the application form.

Program Contact:

NBIF Equipment Fund - NBIF

Equipment Fund - New Brunswick Innovation Foundation

Startup Investment Fund (SIF)

Amount:

$200,000.00

Type of Program:

Investment

Description:

The Startup Investment Fund (SIF) provides New Brunswick entrepreneurs with the investment capital they need to develop their product into a commercially viable venture. This investment will take the form of equity through the purchase of common shares or issuance of convertible debentures. Initial investment from NBIF is expected to be used to leverage additional funding from other investors or funding agencies to fully support the business for a 12 to 18-month period.

Comments on Funding:

Under the SIF, companies are eligible for seed capital investment of up to $200,000.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicants must:

be New Brunswick entrepreneurs,
have domain or technical expertise in market space,
have 12-18 months of runway.

Application Steps:

Applicants must contact the Startup Investment Fund team at proposals@nbif.ca.

Documentation Needed:

Applicants must submit:

a business plan,
three-year financial projections with monthly detail for the first year, and quarterly detail for the following two.

Investors would also like to see a plan towards raising additional rounds of financing, to see the milestones that will create a path that will allow you to raise larger rounds of financing at a higher valuation.

Other Things to Note:

As an early stage seed fund, NBIF's Startup Investment Fund will have a higher risk tolerance than the Venture Capital Fund.

Program Contact:

Startup Investment Fund - NBIF

New Brunswick Innovation Voucher

Amount:

$80,000.00

Type of Program:

Grants

Description:

The Innovation Voucher Fund (IVF) provides New Brunswick SMEs with funding to access scientific talent and facilities they need to engage in R&D opportunities. This could include 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:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicants must:

be companies,
be provincially or federally incorporated and registered to carry on business in New Brunswick,
have fewer than 500 employees,
have 24 months operating history which includes meaningful sales and employment of staff
be committed to collaborating with a researcher at one of New Brunswick’s post-secondary institutions or research organizations.

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.

Application Steps:

Applicants must:

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.

Documentation Needed:

Applicants must submit:

a complete project proposal providing an in-depth description of the proposed innovation and project work plans that state the objectives and outcomes of the research and development, as well as the expected costs,
the signed contract agreement.

Program Contact:

Innovation Voucher - NBIF

NBIF-Innovation-Voucher-Fund-Guidelines-June2020.pdf