Business Development Program - Developing Your Innovative Ideas

The Atlantic Canada Opportunities Agency's (ACOA) Business Development Program (BDP) aims at supporting Atlantic Canadian small and medium enterprises (SMEs) or those who wish to establish in Atlantic Canada. 

Unsecured, interest-free, provisionally repayable contributions up to a maximum of $500 000 can help cover up to 75% of the eligible costs of developing new or improved products, services and processes.

Eligibility Criteria

Commercial enterprises only are eligible applicants under this element of BDP, including Aboriginal businesses and social enterprises.

Eligible sectors include, but are not limited to, manufacturing and processing, service to business, tourism and information technology. 

Ineligible sectors include retail/wholesale, real estate, government services, and services of a personal or social nature.

Eligible Area

Atlantic Canada

Summary

Eligible costs may include:

• labour costs for engineers, scientists, technicians, draftspersons, market analysts, researchers and shop labour essential to the project;
• materials purchased specifically for the project or issued from your inventory and used to produce sample products, prototypes or pilot plants;
• special-purpose equipment purchased or constructed exclusively for your project, and associated rental and lease costs;
• travel costs incurred solely for your project, excluding entertainment costs;
• costs related to defining specifications of your product, service or process, including the use of sub-contracts and consultants;
• other allowable costs include: testing services, patents, leased space, acquiring the rights to a technology, the preparation of a first-user manual, and marketing and feasibility studies;
• acquisition of leading edge technology that is new to the applicant and will improve performance and productivity.

Will your idea qualify for assistance?

Your idea should meet the following tests:

• introduce a new or improved technology, product, service or process;
• have good potential for commercial success. This means having a plan which sets out the steps necessary to translate your idea into profits. This includes product testing, identification of a market, sufficient financing to complete the project, and identification of new skills that may be required by management and employees;
• successful development of your idea should contribute to the economy of the region;
• capability to repay ACOA's interest-free contribution on a repayment schedule tailored to your project, once the project is successful.

To find out more about ACOA's innovation assistance, as well as other eligible activities associated with the establishment, expansion or modernization of your business, contact your local ACOA office or visit their Web site.

New Brunswick Contact(s):
Atlantic Canada Opportunities Agency
570 Queen Street
P.O. Box 578
Fredericton, New Brunswick  E3B 5A6
Telephone: 506-452-3184
Fax: 506-452-3285
Toll-free (information): 1-800-561-4030
Web site: http://www.acoa-apeca.gc.ca/e/

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National Contact(s):
Claire DuLong
Atlantic Canada Opportunities Agency
8th Floor
Blue Cross Centre
644 Main Street
P.O. Box 6051
Moncton, New Brunswick  E1C 9J8
Fax: 506-851-7403
Toll-free (information): 1-800-561-7862
E-mail: claire.dulong@acoa-apeca.gc.ca