he Atlantic Canada Opportunities Agency, ACOA, is an agency which works to develop opportunities for growth in the Atlantic region. The ACOA supports businesses in becoming more competitive, innovative, and productive. Relationships with diverse communities are prioritized to diversify and develop local economies, furthering the strengths of the region. The ACOA achieves these goals by offering four funding opportunities for businesses within the region.
The creation of new products and services is important for developing and maintaining a strong economy. These products and services lead to market success, sector growth, and create research and commercial partnerships. The Atlantic Innovation Fund, AIF, is one of the funding opportunities provided by the ACOA to support the economy in Atlantic Canada through fund the creation and marketing of new products and services. AIF funding also supports the adoption of new technologies to meet business needs or respond to market opportunities.
Amount of Funding Available
- For non-profit organizations, up to 80% of total eligible costs can be funded in a non-repayable contribution.
- For private-sector-led organizations, up to 75% of total eligible costs can be funded. Contributions are conditionally repayable based on the commercial success of the project.
- Funding per project ranges from $500,000 to $3 million.
Eligibility
To be eligible for this program, projects must be large-scale and include an R&D element with a strong possibility for commercialization. Eligible applicants include:
- Private Sector Businesses
- Colleges, Universities, and other post-secondary institutions
- Non-government research organizations
- Provincial Crown corporations
Deadline
Applications for this program are accepted on a rolling basis.
Call EVAMAX today to get started on your application!
Resources:
Atlantic Innovation Fund – Canada.ca
Atlantic Canada Opportunities Agency – Canada.ca
