Innovation provides companies with a much-needed competitive advantage in today’s global marketplace. Innovation builds new ideas and helps grow companies and communities to higher potentials. This is why NBIF is looking to support firms that have research projects they want to complete to help boost growth in the New Brunswick economy. The Innovation Voucher Fund was designed to help provide small and medium sized businesses in New Brunswick with the scientific expertise and facilities needed to help accelerate growth through R&D.
Type of Funding available
Companies that are eligible for the Innovation Voucher Fund can receive up to $80,000 of non-repayable funding to cover 80% of an R&D project with an approved New Brunswick Research institution.
Companies which have:
- Fewer than 500 employees provincially;
- 24 months official operating history, with meaningful revenue;
- And are committed to collaborating with an R&D researcher at one of New Brunswick’s post-secondary institutions or research organizations.
The Innovation Voucher Fund is looking for projects which offer:
- A solid business case;
- Strong market potential;
- Commercial and financial feasibility;
- Ability to generate a sustained competitive advantage for the company; and
- The potential for economic impact on the province of New Brunswick
Applications are accepted on a rolling basis, and decisions are communicated within 4-6 weeks from the date of the submission.