Atlantic Innovation Fund — Private Sector Businesses ### 📋 Eligible Entities - For-profit private sector businesses incorporated in Canada - Businesses operating in Atlantic Canada (Nova Scotia, New Brunswick, Prince Edward Island, Newfoundland and Labrador) - Small to medium-sized enterprises (SMEs) are prioritized - Must demonstrate active operations in the region - Subsidiaries of larger corporations may be eligible if they operate independently in Atlantic Canada - Sole proprietors and partnerships structures are generally eligible if properly registered ### 💰 Funding Details - Contribution Amount: Up to $500,000 (varies by project scope and assessment) - Funding Type: Conditionally repayable contribution (hybrid grant-loan structure) - Repayment Terms: - Repayment triggered upon commercialization or sale of the product/technology - If project fails or does not reach commercialization, repayment may be forgiven - Interest-free during development phase - Matching Requirements: Applicants must demonstrate 25–50% cost-sharing from private sources (cash or in-kind) - No equity stake taken by the funder ### 🛠️ Approved Expenses - Product/Technology Development: R&D wages, salaries for specialized personnel - Equipment & Tools: Purchase or lease of machinery, software, lab equipment - Prototyping & Testing: Materials, prototype development, validation testing - Professional Services: Engineering, design, patent/IP support - Market Research: Feasibility studies, commercialization planning - Technology Adaptation: Modifying existing technologies for new markets or applications - Regulatory & Certification Costs: Meeting safety, environmental, or industry standards Not Eligible: - General operating expenses unrelated to technology development - Marketing and advertising (limited exception for commercialization phase) - Land or real estate purchase - Debt repayment or refinancing ### ⚠️ Conditions & Milestones - Project Timeline: Typically 2–3 years from start to commercialization milestone - Commercialization Requirement: Applic