Atlantic Investment Partnership (AIP) - Atlantic Innovation Fund (AIF)

The Atlantic Canada Opportunities Agency’s Atlantic Innovation Fund (AIF) is an initiative through which the Government of Canada is making strategic investments aimed at increasing Atlantic Canada’s innovation capacity.

AIF funding is provided to selected eligible projects through a series of competitive funding rounds.

Eligibility Criteria

Eligible applicants include private sector businesses, research institutions and universities.

Federal and provincial departments, including government research laboratories and institutes, are not eligible for funding.

Eligible Activities

The Atlantic Innovation Fund focuses on R&D projects in the area of natural and applied sciences, as well as in social sciences, humanities, arts and culture, where these are explicitly linked to the development and commercialization of technology-based products, processes or services.

Summary

What are the objectives of the AIF?

The purpose of the Atlantic Innovation Fund is to:

• increase research and development (R&D) being carried out in Atlantic Canada research facilities leading to the launch of new products, processes and services;
• improve the region’s capacity to commercialize R&D;
• strengthen the region’s innovation system by supporting R&D and commercialization partnerships and alliances among private sector enterprises, universities, research institutions and other organizations in Atlantic Canada; and
• enhance the region’s ability to access national R&D programs.

What are the eligible costs?

Eligible costs could include wages, salaries, capital costs and other operating expenses directly related to the research project.

What level of financial assistance is available?

The Atlantic Innovation Fund can provide assistance of up to 80% of total eligible costs for non-commercial projects and up to 75% of total eligible costs for commercial, private sector projects.

Commercial applicants seeking funding of $1million or less are not eligible under the Atlantic Innovation Fund. However, such projects may be eligible for assistance under the innovation element of the Business Development Program of the Atlantic Canada Opportunities Agency (ACOA).

Is AIF funding repayable?

Contributions to the private sector are conditionally repayable based on the commercial success of a project.

Contributions to non-commercial organizations, such as research institutes and universities, are non-repayable. However, a private sector partner in a non-commercial project who benefits from the commercialization of the resulting product, process or service would be expected to pay a financial compensation, equal to or greater than the proportion of the benefits received, to the partner institution.

What is the project proposal process?

Projects are approved under the Atlantic Innovation Fund through a series of competitive funding rounds. The Minister of ACOA launches a new round by issuing a Request for Letters of Intent and Project Proposals. Eligible applicants must submit a letter of intent and a detailed project proposal by separate deadlines for consideration for AIF funding.

An independent Advisory Board, composed of regional leaders in business and academia, reviews all AIF project proposals and provides recommendations to the ACOA Minister.

A package containing guidelines for letter and proposal development is available through ACOA offices or on the Web site.

New Brunswick Contact(s):
Charles Allain
ACOA New Brunswick - Regional Office
Atlantic Canada Opportunities Agency
570 Queen Street
P.O. Box 578
Fredericton, New Brunswick  E3B 5A6
Telephone: 506-452-3272
Fax: 506-452-3285
Toll-free (information): 1-800-561-4030
E-mail: Charles.Allain@acoa-apeca.gc.ca

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National Contact(s):
Gilles Paulin
Atlantic Canada Opportunities Agency
3rd Floor
Blue Cross Centre
644 Main Street
P.O. Box 6051
Moncton, New Brunswick  E1C 9J8
Telephone: 506-851-2928
Fax: 506-851-7403
Toll-free (information): 1-800-561-7862
E-mail: Gilles.Paulin@acoa-apeca.gc.ca