Atlantic Fisheries Fund – Atlantic innovation, infrastructure or science partnerships funding
Highlights
This program is designed for businesses in the fish and seafood sector, like yours. It offers a unique opportunity to secure funding that can help you meet growing market demands for high-quality, value-added, and sustainably sourced products. With over $400 million available over seven years, this program can provide significant financial support.
Why Apply?
- Substantial Funding: Up to 70% of the funding comes from the federal government, with the remaining 30% from provincial and territorial governments.
- Focus Areas: The program supports innovation, infrastructure, and science partnerships, helping you develop new products, improve sustainability, and collaborate with research institutions.
- Collaborative Approach: Work with Indigenous groups, NGOs, industry associations, and academic communities to identify and promote projects of mutual interest.
What's in it for You?
- Innovation: Develop new products and technologies in harvesting, aquaculture, and processing.
- Infrastructure: Implement new technologies or processes to enhance sustainability.
- Science Partnerships: Collaborate with academia and research institutions to improve knowledge and understanding.
Qualifying for this program is straightforward, and being approved can significantly boost your business's growth and sustainability.
Financing Details
Type of Financing: Contribution Program
Repayment Terms and Interest Rates:
- This is a non-repayable contribution, meaning you do not need to pay back the funds received.
Eligible Expenses:
- Development of new products and technologies in harvesting, aquaculture, and processing sectors.
- Implementation of new technologies or processes to improve sustainability.
- Industry-based collaborations with academia and research institutions to enhance knowledge and understanding.
Use of Funds:
- Funds can be used for innovation, infrastructure, and science partnerships within the fish and seafood sector.
Restrictions on Use of Funds:
- Funds cannot be used for expenses outside of the specified eligible categories.
- Personal expenses or non-business-related costs are not allowed.
Fees:
- There are no fees associated with applying for or receiving this contribution.
Qualifications
Must be operating in one of the following provinces:
- Nova Scotia
- New Brunswick
- Prince Edward Island
- Newfoundland and Labrador
Disqualifications:
- Businesses not operating in the specified provinces
Description
The program offers your business a chance to receive up to $400 million over 7 years. This funding is designed to help you meet the growing market demands for high-quality, value-added, and sustainably sourced seafood products.
You can use the money for:
- Innovation: Develop new products and technologies in harvesting, aquaculture, and processing.
- Infrastructure: Implement new technologies or processes to improve sustainability.
- Science partnerships: Collaborate with academia and research institutions to enhance knowledge and understanding.
Funding is available for projects in Nova Scotia, New Brunswick, Prince Edward Island, and Newfoundland and Labrador. The federal government provides 70% of the funding, while 30% comes from participating provinces and territories. This is a great opportunity to grow your business and stay competitive in the seafood sector.
Program Steps
Gather Required Documentation:
- Business plan
- Financial statements
- Proof of eligibility (e.g., business registration, licenses)
- Project proposal outlining the use of funds
- Quotes or estimates for project costs
Complete the Application Form:
- Obtain the application form from the Fisheries and Oceans Canada website or your provincial government’s website.
- Fill out all required fields accurately.
Prepare a Detailed Project Proposal:
- Describe the project’s objectives.
- Explain how the project aligns with the fund’s focus areas: innovation, infrastructure, or science partnerships.
- Include timelines and expected outcomes.
Submit the Application:
- Attach all required documentation and the completed application form.
- Submit the application through the designated online portal or by mail to the appropriate government office.
Follow Up:
- After submission, monitor your email and phone for any communication from the program administrators.
- Be prepared to provide additional information or clarification if requested.
Await Decision:
- The application will be reviewed by a committee.
- You will be notified of the decision and any next steps.
Implement the Project:
- If approved, follow the guidelines provided for fund disbursement.
- Begin the project as outlined in your proposal.
Report Progress:
- Provide regular updates on the project’s progress as required by the program.
- Submit final reports upon project completion, detailing outcomes and financial expenditures.