NBIF Innovation Voucher

📋 Eligible Entities - Small and medium-sized enterprises (SMEs) operating in New Brunswick - Private sector businesses with fewer than 500 employees - Businesses must be for-profit entities - Applicants must demonstrate a clear innovation need aligned with their business strategy - Businesses must be in good standing with provincial and federal tax authorities ### 💰 Funding Details - Maximum Grant Amount: $80,000 per voucher - Cost-Sharing Ratio: 80% covered by grant / 20% cost-sharing required from applicant - Repayability: Non-repayable grant - Payment Structure: Funds paid directly to the research institute (not to the business) - Budget Allocation: Covers 80% of eligible R&D service provider fees ### 🛠️ Approved Expenses - Applied research services - Proof of concept development - Prototyping and design services - Product testing and validation - Demonstration projects - Technical feasibility studies - Services provided by eligible research institutes, post-secondary institutions, or accredited research organizations - Consultant fees for research-related activities (where applicable) ### ⚠️ Conditions & Milestones - Business must provide 20% cost-sharing (co-funding requirement) - Research services must be delivered by an accredited research institute or eligible service provider - Funds are issued directly to the service provider, not the business - Project must be clearly defined with measurable deliverables and timelines - Business must demonstrate how results will be commercialized or integrated into operations - Reporting requirements on project outcomes and impact may apply - Funds must be used within a specified project timeline (verify with NBIF) - Eligible businesses must operate primarily in New Brunswick