Funding for Innovators

NS: Feds announce more R&D commercialization funding
By Staff, Transcontinental Media

Source: The Daily Business Buzz, May 6, 2010

[HALIFAX, NS] — The federal government has launched a new round of funding under the Atlantic Innovation Fund (AIF).

“Our government continues to encourage Atlantic Canadian entrepreneurs and researchers to undertake world-class, leading-edge research that will help drive the region’s long-term economic growth and development,” said Keith Ashfield, Minister of National Revenue, Minister of the Atlantic Canada Opportunities Agency (ACOA) and Minister for the Atlantic Gateway. “The Atlantic Innovation Fund has been instrumental in helping Atlantic Canadian businesses, universities and research institutions collaborate on ideas and commercialize new products and services.”

The previous round of AIF was announced just four months ago, offering funding for 30 research and development projects throughout Atlantic Canada.

ACOA reports its Atlantic Innovation Fund has been an important catalyst for many Atlantic Canadian businesses, universities and research institutions, creating more than 680 partnerships to help commercialize innovative ideas, products and services. The organization says the commercialization of this homegrown research helps create jobs, develop a highly-skilled workforce, builds institutional and private sector capacity, supports the development of emerging clusters, and increases trade and investment.

Since 2006, including the results of the round announced in January 2010, the AIF has committed over $343 million in assistance to 145 highly innovative R&D projects across the region valued at over $775 million.

Eligible proponents — which include private sector businesses, universities, colleges and other research organizations — are required to submit a mandatory letter of intent, followed by a complete project proposal. The deadline for submitting mandatory letters of intent is June 15, 2010, and the deadline for submitting complete project proposals is September 1, 2010. Detailed information is available on ACOA’s website: http://www.acoa-apeca.gc.ca .

Proposals will be evaluated against the AIF’s objectives and criteria and forwarded to the AIF Advisory Board, which is composed of people from across Atlantic Canada with expertise in research and development, business and economic policy.