The Northern Industries Innovation Fund (NIIF) is designed for businesses like yours in Northern B.C. This program offers up to $50,000 in rebate funding, covering up to 50% of your project budget. This means you can get significant financial support for your innovation projects, whether it's for applied research, developing new products, or testing innovative equipment.

Why should you apply? This funding can help you stay competitive and diversify your business, especially if you're in an industry affected by the pine beetle epidemic. The program supports a wide range of industries, including agriculture, energy, forestry, and manufacturing. By participating, you can make informed capital investment decisions and improve your products or services.

What's in it for you? The NIIF funding is a rebate, which means you get money back after your project is completed. This is a more flexible and less risky option compared to traditional loans. Plus, the application process is straightforward, and the program continuously accepts applications, making it easier for you to qualify and get started on your project.

Type of Financing: Grant

Repayment Terms and Interest Rates:

• No repayment required.
• No interest rates apply.

Eligible Expenses:

• Applied research and development.
• New or improved products and services.
• Testing of innovative equipment or technologies.
• Capital investment decisions.

Ineligible Expenses:

• General operational costs.
• Marketing and advertising expenses.
• Routine maintenance and repairs.

Fees:

• No application or processing fees.

• Must be located/headquartered within the Northern Development Initiative Trust region.
• Must be a privately owned business.
• Must be incorporated.
• Must have fewer than 500 employees.
• Must have revenues less than $100 million.
• Registered non-profit organizations engaged in industrial activities are eligible.
• Post-secondary institutions working with a private sector partner or on an applied research project with private sector implications are eligible.
• Community contribution companies are eligible.
• Priority is given to companies operating in regions most impacted by the pine beetle epidemic.

Disqualifications:

• Businesses located outside the Northern Development Initiative Trust region.

This program offers your business up to $50,000 in rebate funding, covering up to 50% of your total project budget. You only need to contribute a minimum of 10% of the project budget.

The funding can be used for various innovation projects. This includes applied research and development, creating new or improved products and services, and testing innovative equipment or technologies. These projects can help your business stay competitive and make informed capital investment decisions.

This is a great opportunity to boost your business's growth and resilience, especially if you're in an industry affected by the pine beetle epidemic. The funding can support economic diversification and ensure the long-term viability of your business.