Technology Development Fund

The Atlantic Canada Opportunities Agency has established a $7-million Technology Development Fund to stimulate the adoption and use of technology by small and medium enterprises (SMEs) in rural Atlantic Canada. The fund is administered by the Atlantic Association of Community Business Development Corporations in Atlantic Canada.

Eligibility Criteria

Small and medium enterprises in rural Atlantic Canada.

Eligible Activities

Eligible activities include:

• the acquisition of technology to take full advantage of the e-business/e-commerce economy;
• support of growth clusters;
• development of intellectual properties;
• development and commercialization of software applications; and/or
• other forms of technology integration.

Summary

This initiative provides loans to SMEs, to a maximum of $150 000, for a period of up to five years. These loans will enable SMEs to purchase and incorporate current technology into their businesses and to improve business processes and increase productivity. This will make firms in rural Atlantic Canada more competitive and will open up new markets for their products. It also supports loans to entrepreneurs for the development and commercialization of projects dealing with intellectual property, such as software development.

These loans fund the purchase and installation of hardware, the purchase or development of software, and counselling/training/viability assessments where appropriate. Each project will be required to demonstrate a favorable impact on productivity and/or profitability by either improving revenues, reducing expenses, expanding the client base, streamlining business processes, or becoming more competitive locally or globally.

Program delivery

As administrator of the program, the Association provides funds to individual Community Business Development Corporations (CBDCs) to make loans to local entrepreneurs. The SMEs will repay the loan to the CBDCs, who in turn, will repay the Association, thus ensuring the funds revolve for additional lending to other SMEs throughout Atlantic Canada.

New Brunswick Contact(s):
CBDC Chaleur
Community Business Development Corporations
Suite 212-J
275 Main Street
Bathurst, New Brunswick  E2A 1A9
Telephone: 506-548-5951
Fax: 506-548-5008
Web site: http://www.cbdc.ca/index.php?rid=6

CBDC Charlotte/Kings
Community Business Development Corporations
Suite 202
123 Milltown Boulevard
P.O. Box 455
St. Stephen, New Brunswick  E3L 1G5
Telephone: 506-466-5055
Fax: 506-466-4859
Web site: http://www.cbdc.ca/index.php?rid=11

CBDC Kent
Community Business Development Corporations
190 Irving Boulevard
Bouctouche, New Brunswick  E4S 3L7
Telephone: 506-743-2422
Fax: 506-743-1033
Web site: http://www.cbdc.ca/index.php?rid=15

CBDC Madawaska
Community Business Development Corporations
24 St-François Street
Edmundston, New Brunswick  E3V 1E3
Telephone: 506-737-8925
Fax: 506-737-8922
Web site: http://www.cbdc.ca/index.php?rid=9&

CBDC Northumberland
Community Business Development Corporations
158 Wellington Street
Miramichi, New Brunswick  E1N 1L9
Telephone: 506-778-2121
Fax: 506-778-2224
Web site: http://www.cbdc.ca/index.php?rid=16

CBDC Péninsule Acadienne
Community Business Development Corporations
439 du Moulin Street
P.O. Box 3666, Main Station
Tracadie-Sheila, New Brunswick  E1X 1G5
Telephone: 506-395-9700
Fax: 506-395-5672
Web site: http://www.cbdc.ca/index.php?rid=7&

CBDC Restigouche
Community Business Development Corporations
95 Roseberry Street
P.O. Box 1089
Campbellton, New Brunswick  E3N 2G6
Telephone: 506-753-3344
Fax: 506-753-7131
Web site: http://www.cbdc.ca/index.php?rid=8&

CBDC Southwest
Community Business Development Corporations
Suite 112
1910 Route 3
Harvey Station, New Brunswick  E6K 2P4
Telephone: 506-366-3022
Fax: 506-366-3444
Web site: http://www.cbdc.ca/index.php?rid=12&

CBDC Victoria Madawaska-South
Community Business Development Corporations
Suite 300
551 Main Street
P.O. Box 7295
Grand Falls, New Brunswick  E3Z 2W4
Telephone: 506-473-6446
Fax: 506-473-1280
Web site: http://www.cbdc.ca/index.php?rid=10

CBDC Westmorland Albert
Community Business Development Corporations
337A Main Street
Shediac, New Brunswick  E4P 2B1
Telephone: 506-532-8312
Fax: 506-532-1373
Web site: http://www.cbdc.ca/index.php?rid=13&

National Contact(s):
See regional contact(s).