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.
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How Much Funding?
Up to 50% of eligible costs
Who Qualifies?
Newfoundland 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
