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Innovation and Business Development Fund

This program supports projects that will help position Newfoundland and Labrador globally as a preferred location for oil and gas development.

What Is Innovation and Business Development Fund?

The Innovation and Business Development Fund is a funding program dedicated to supporting innovation and fostering business growth in various sectors. It provides financial assistance and resources to entrepreneurs and organizations to drive the development and commercialization of innovative products, services, and technologies.

Innovation and Business Development Fund Overview

The Innovation and Business Development Fund is a strategic program dedicated to fostering innovation and facilitating business growth in diverse sectors. With its focus on providing financial resources and assistance, the fund empowers entrepreneurs and organizations to advance the development and commercialization of pioneering products, services, and technologies.

By nurturing innovation and promoting entrepreneurship, the Innovation and Business Development Fund plays a crucial role in driving economic prosperity, generating employment opportunities, and spurring technological progress, thereby enhancing the overall competitiveness of businesses and industries. Through this initiative, aspiring entrepreneurs and established companies can access the necessary support and resources to transform their innovative ideas into thriving ventures, while also stimulating economic growth and fostering a dynamic business ecosystem.

$

How Much Funding?

Up to 50% of eligible costs

WHO QUALIFIES?

SME operating in NL

$

Eligible Activities & Expenditures

Project that:
– facilitate oil and gas supply chain collaboration
– expand local supply, export, and diversification opportunities
– attract inward investments in areas where there are gaps in innovation, technology, and supply chain capabilities
– improve oil and gas industry competitiveness by reducing costs related to exploration, development and operations
– contribute to long-term job creation and economic growth in NL

  • Labour cost
  • Other operating costs
  • Capital costs

PROGRAM DEADLINE

New Program announced January 15, 2021; deadline not specified

Get Expert Advice and Support

Our team will review your application and provide funding recommendations within a few weeks. If your project is approved, you’ll receive funding to cover a portion of eligible project costs.

Ready to take your business to the next level? Contact EVAMAX today to learn more and start your application process.

Focus on innovation.
Let EVAMAX do the rest.

Get your idea funded. Let’s talk about innovation funding.

Increase your chance of getting approved. 

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