Grow - Funding & Tax Credits
Trying to navigate the maze of funding programs can be an overwhelming task. We've made it easy by breaking down the plethora of programs into the following categories, so we can precisely point you in the right direction. We also recommend consulting with government and industry specific associations/support networks.
Whether you want to start a local retail operation or a high growth global company, we can suggest various financing avenues to get you started and help you grow.
The New Brunswick Department of Post-Secondary Education, Training & Labour and Employment (PETL) & Social Development Canada are the lead organizations with respect to employment programs, and HR policies and procedures. Explore the following for funding for employment and skills development:
- GNB One Job Pledge: Wage incentive to hire a recent graduate of post-secondary education in his/her field of study
- GNB Post-Secondary Education, Training & Labour: Self-Employment Benefit Program, Adjustment Services, Employer-Wage Subsidy, Canada-New Brunswick Job Grant Program
- Employment and Social Development Canada: Foreign Credential Recognition Program, Opportunities Fund for Persons with Disabilities, Skills Link Program, Work Sharing
- Opportunities New Brunswick: Th ONB investment team can help with recruitment
- Self-Employment Benefit Program (CBDC): Atlantic Canadians can continue to receive their unemployment benefits while starting a business
- Commercialization Consulting & Mentoring Program (Learnsphere): Access to financial and technical resources to SMEs and others to hire expertise to assist in the commercial launch of new products, technologies and processes
- Youth Employment Program (NRC-IRAP): Funds to pay a recent graduate (aged 15-30) to work for an incorporated SME with less than 500 employees.
- Youth Employment Fund (GNB): Provides an entry point to long term employment for unemployed individuals between 18-29 years of age who require a work experience opportunity as identified through their employment action plan
Both the provincial and federal governments, as well as some independent organizations, offer assistance for export initiatives through support and funding programs.
- Atlantic Canada Opportunities Agency: resources for business in market exports
- Opportunities New Brunswick: resources to help new exporters and existing businesses expand to new markets
- Export Development Canada: bonding, insurance, and financing solutions for Canadian companies, as well as financing for foreign companies
- Foreign Affairs and International Trade Canada (DFAIT): works with Export USA, runs the Centre of Intercultural Learning (CIL), global trade missions, and a number of export development programs
- Canadian Manufacturers & Exporters (CME): advocates for manufacturers and exporters; builds a more competitive business environment; provides critical and timely intelligence; strengthens leadership through best practices; and leverages networks for success
- NB Business Council: NB Business Council helps businesses with accessing new markets through their Council Passport Service
- Training and Consulting Services Program (Learnsphere): $10,000 grant for SMEs who are currently exporting or planning to export internationally
- CanExport: reimburses up to 50 percent of eligible expenses related to market export activity. Applicants must match funds on a one-to-one basis, providing a minimum contribution of $10,000 (requires that the total cost of eligible activities be at least $20,000) and a maximum contribution of $99,999 (which requires that the total cost of eligible activities be at least $199,998)
There are numerous organizations offering funding programs for research and development. We have outlined the primary programs below, but also encourage you to review the sector-specific networks for government departments / agencies and industry.
- New Brunswick Innovation Foundation:
- Springboard Atlantic: Industrial Undergraduate Student Research Awards Program
- Centres of Excellence for Commercialization and Research (CECR): CECR Program
- National Research Council (NRC): NRC Industrial Research Assistance Program
- Natural Sciences and Engineering Research Council (NSERC): College and Community Innovation Program
- MITACS: GlobalLink, Enterprise, and STEP programs
- International Science & Technology Partnership Program: Canadian International Innovation Program funding co-development initiatives with partners from eligible countries
- Partnership Development Grants (Social Sciences and Humanities Research Council): Between $75,000 and $200,000 over 1-3 years for a fellowship for a student to research and build knowledge and understanding towards complex and important topics
- Industrial Assistance Research Program (IRAP): For small and medium-sized businesses in Canada (500 or fewer employees); must be incorporated, profit-oriented, building innovation technology-driven new or innovative products, services or processes
- Ignite Fredericton: General business advice, SEED Capital Program, Futurpreneur Financing
- Opportunities New Brunswick
- Canada Business Network
- Atlantic Canada Opportunities Agency: Atlantic Innovation Fund, Business Development Program, Sector Export Strategies, Young Entrepreneur Development Initiative, Women in Business Initiative
- Business Development Bank of Canada (BDC): BDC Consulting, BDC Financing, BDC Venture Capital, Small Business Loans, Working Capital Hybrid Solutions
- Canadian Business Development Corporation: Skills Training, Youth Loan, General Business Loan, First Time Entrepreneur Loan, Innovation Loan, Business Counselling, SEED Capital Program, Women in Business Initiative (WIB)
- Ulnooweg Loans (First Nations): Business start-up loans for First Nations people
- Translation Assistance Program: Offering up to $8000 to small and medium businesses for translation of promotional material
- Canada Small Business Financing (RBC): Offering up to $500,000 to further develop existing small business
There are numerous organizations offering funding programs to help entrepreneurs innovate and commercialize. We have outlined the primary programs below, but also encourage you to review the sector-specific networks for government departments / agencies and industry.
- Planet Hatch
- Pond-Deshpande Centre: Social Innovation Fund, Technology Ignition Fund, Student Catalyst Fund, Ignition Fund Program
- Atlantic Canada Opportunities Agency: Atlantic Innovation Fund, Business Development Program, Sector Export Strategies, Young Entrepreneur Development Initiative, and Women in Business Initiative
- Opportunities New Brunswick: Innov8, NB Growth, Export Development Program
- Concierge & National Research Council: College & Community Innovation Program, Single point of access for SME business advice on innovation and growth.
- Centres of Excellence for Commercialization & Research: CERC Program bridges the gap between innovation and commercialization
- NB Business Council: Early Adopters Teams, Meal with Moguls, Council Passport Service
- Springboard Atlantic: Innovation Mobilization Program to move skills/knowledge-base into industry
- Futurpreneur: Financing of up to $15K over 5 years for 18-34 year old, up to $45K with BDC for 35-39.
- Technology Commerialization Program (TME-UNB): Up to $10K in seed capital for market validation and prototyping
- New Brunswick Innovation Foundation: Start-Up Innovation Fund, Breakthru, and Innovation Voucher
- Commercialization Consulting and Mentoring Program (Learnsphere): Up to $16,750 grant for SMEs, Universities, Research Institutions, Strategic partners to test and validate a product or service and launch it
- Engage Grants (NSERC): Up to $25,000 for up to 6 months for a company to solve specific problem with technical merit, industrial relevance and potential for innovative impact with a benefit to Canada economically, socially and environmentally.