This program is designed for businesses like yours, ready to bring new and innovative products, technologies, or processes to market. By participating, you can receive up to $16,250 to cover 65% of your project costs. If you are in the clean technology/green sector, you could be eligible for up to $25,000 in funding, covering 100% of your project costs.

Key Benefits:

• Financial Assistance: Up to $16,250 (65% of project costs) or $25,000 (100% for clean tech).
• Expert Support: Hire consultants or mentors to guide you through the commercialization process.
• Group Learning: Host activities to improve your team's knowledge and preparedness.

Why Apply?

• Flexible Financing: Reimbursement-based funding helps manage cash flow.
• Market Readiness: Support for activities like field trials, pilot production tests, and market launch plans.
• Easy Qualification: If your business is registered and operating in one of the Atlantic Provinces and meets the criteria, you are eligible to apply.

Approval can significantly boost your path to market, providing the resources and expertise needed to succeed. The application process is straightforward, and the benefits are substantial.

Type of Financing:

• Reimbursement: The program offers financial assistance in the form of a reimbursement. This means you must initially cover 100% of the project costs and will be reimbursed after the project is completed.

Repayment Terms and Interest Rates:

• No Repayment Required: Since this is a reimbursement, there are no repayment terms or interest rates involved.

Eligible Expenses:

• Consultant or Mentor Fees: Costs for hiring consultants or mentors to assist with commercialization.
• Group Learning Activities: Expenses related to hosting group learning activities that improve commercialization knowledge.
• Professional Fees and Travel Costs: For bringing in consultants.
• Focus Group Costs: Costs associated with holding focus group sessions.
• Limited Administrative Costs: Incremental administrative costs directly related to the project.

Ineligible Expenses:

• Applicant’s Travel Costs: Travel expenses for the applicant are not covered.
• Design or Development Costs: Costs associated with the design or development of the product, technology, or process.
• Physical Assets or Software: Purchase of physical assets or software.
• General Communication Tools: Development of general communication tools for the applicant.
• Printing or Advertising Costs: Costs related to printing or advertising.

Fees:

• No Additional Fees: There are no fees associated with applying for or participating in this program.

This program offers your business up to $16,250 to help bring a new product, technology, or process to market. This money can cover up to 65% of your project costs. You can use it to hire consultants or mentors, and to host group learning activities that will boost your commercialization efforts.

The funding is provided as a reimbursement. You need to cover the costs upfront, and then you will be reimbursed after the project is completed. For projects over $5,000, you can receive up to 65% back, with a maximum of $16,250. This means if your project costs $25,000 or more, you can get the full $16,250.

This program is a great opportunity to get expert help and improve your chances of successfully bringing your innovative product to market. It supports activities like field trials, pilot production tests, and creating marketing materials. You only need to cover 35% of the costs, making it a valuable investment for your business.

1. Complete the Online Application Form: Visit the program's website and fill out the online application form. Ensure all sections are completed accurately.

2. Prepare Necessary Documentation: Gather and prepare the following documents:

• Business registration and operating details
• Financial statements
• Business plan
• Consultant proposal(s)
• Any other supporting documents that demonstrate compliance with the program’s objectives and guidelines

3. Submit the Application and Documentation: Upload the completed application form and all necessary documents to the program’s online portal.

4. Select a Consultant: Choose a consultant or mentor who will assist with your project. Ensure they are at arm’s length to your company and their fees are at fair market value.

5. Await Evaluation: After submission, your application will be evaluated. This process typically takes four to five weeks. Be prepared to provide additional information if requested.

6. Receive Notification: You will be notified of the evaluation outcome. If approved, a contract will be issued between LearnSphere and your company.

7. Sign the Contract: Review and sign the contract to formalize the agreement.

8. Begin the Project: Start your project with the selected consultant or mentor. Ensure all activities align with the approved plan.

9. Maintain Records: Keep detailed records of all project activities and expenses. This will be important for reimbursement and potential audits.

10. Submit Claims for Reimbursement: Once the project is completed, submit a claim for reimbursement along with proof of payment and proof of work completed.

11. Participate in Program Evaluations: Be prepared to provide baseline information at the start, follow-up information upon project completion, and participate in surveys up to four years later.