In order to support Newfoundland and Labrador’s growing economy, the Department of Industry, Energy and Technology (IET) leads innovation, economic development, and diversification in Nova Scotia. This organization achieves this by developing a competitive environment, supporting private sector investment and business development, as well as key industries. In Newfoundland and Labrador, mentioned key industries include mining, energy, and technology.
One program offered by IET is the Business Development Support Program. This program supports small to medium sized businesses to increase their competitiveness and productivity. Emphasis is placed on businesses in strategic sectors which focus on export markets or improve import substitution.
Amount of Funding Available
Funding is available for productivity improvements, knowledge development, market development, and professional technical advice.
SMEs will receive a non-repayable contribution to a maximum amount of $100,000, up to 50% of eligible project costs per fiscal year.
Eligibility
Eligible organizations must have the requirements listed below:
- Be a small to medium sized business operating in Newfoundland and Labrador with less than 100 employees and less than $10 million in sales.
- Be able to demonstrate the ability to undertake the work identified in the project proposal.
- Be able to demonstrate access to financial capital needed to undertake the project.
- Operate in a strategic sector identified by IET.
- Be in good standing with the government of Newfoundland and Labrador.
Deadline
Applications for this program are accepted on a rolling basis.
Call EVAMAX today to get started on your application!
Resources:
Graduate to Opportunity – Government of Nova Scotia, Canada
Graduate to Opportunity program opens possibilities for employers, recent grads – Halifax Chamber of Commerce
