Atlantic Fisheries Fund — Infrastructure
Highlights
The Atlantic Fisheries Fund is designed specifically for businesses like yours in the fish and seafood sector. This program offers a unique opportunity to access funding that can help you innovate, improve infrastructure, and form valuable science partnerships. By applying, you can secure financial support to develop new products, adopt advanced technologies, and enhance your processes.
Key Benefits:
- Innovation Support: Funding for new products and technologies.
- Infrastructure Investment: Capital for new equipment and processes.
- Science Partnerships: Collaborations with academia and research institutions.
This funding is more advantageous than other financing options because it is backed by the government, ensuring stability and reliability. Approval can significantly boost your business by providing the resources needed to meet global seafood demand. The application process is straightforward, and as long as you meet the criteria, qualifying is manageable.
Financing Details
Type of Financing: Grant
Eligible Expenses:
- Innovation projects, including new products and technologies.
- Infrastructure investments, such as capital investments in new products, processes, or technologies.
- Science partnerships between industry, academia, and research institutions to improve knowledge.
Use of Funds:
- Funds can be used for innovation, infrastructure, and science partnerships.
- Funds cannot be used for operational costs, debt repayment, or activities outside of Newfoundland and Labrador, Nova Scotia, New Brunswick, and Prince Edward Island.
Fees:
- There are no fees associated with applying for or receiving this grant.
Qualifications
- Must be located in Newfoundland and Labrador, Nova Scotia, New Brunswick, or Prince Edward Island.
- Must be part of the fish and seafood sector.
- Must aim to innovate with new products and technologies.
- Must seek to invest in infrastructure for new products, processes, or technologies.
Must be interested in science partnerships with industry, academia, or research institutions.
Disqualifications:
- Businesses outside of Newfoundland and Labrador, Nova Scotia, New Brunswick, or Prince Edward Island.
- Businesses not part of the fish and seafood sector.
Description
The Atlantic Fisheries Fund is designed to help your business in the fish and seafood sector grow and meet global demand. You can receive funding to innovate new products and technologies, which can give you a competitive edge in the market.
The fund supports capital investments in new products, processes, or technologies. This means you can upgrade your infrastructure, making your operations more efficient and sustainable.
Science partnerships are also encouraged, allowing you to collaborate with industry experts, academia, and research institutions to enhance your knowledge and improve your products.
Funding is available until the allocated budget for the fiscal year runs out, but it will be renewed in the next fiscal year. This program offers a great opportunity to boost your business and stay ahead in the industry.
Program Steps
Prepare Your Proposal: Start by drafting a detailed proposal for your project. This should include the objectives, expected outcomes, and how it aligns with the fund's goals of innovation, infrastructure, and science partnerships.
Gather Required Documentation: Collect all necessary documents to support your application. This includes:
- Business plan
- Financial statements
- Project budget
- Quotes for any equipment or services
- Letters of support or partnership agreements
Complete the Application Form: Fill out the application form provided by the Atlantic Fisheries Fund. Ensure all sections are completed accurately and thoroughly.
Submit Your Application: Send your completed application form and supporting documents to the appropriate regional office. Make sure to follow any specific submission guidelines provided.
Await Evaluation: Your application will be reviewed and evaluated based on the criteria set by the fund. Be prepared to provide additional information if requested.
Follow Up: After submission, keep in touch with the program administrators to track the status of your application and address any questions or concerns they may have.
Receive Funding Decision: Once your application is evaluated, you will be notified of the funding decision. If approved, you will receive details on the funding amount and any conditions attached.
Implement Your Project: Upon approval and receipt of funds, proceed with implementing your project as outlined in your proposal. Ensure you adhere to any reporting requirements set by the fund.