NRC — Ocean, Coastal and River Engineering Research Centre
Highlights
This program is designed for businesses like yours, offering a unique opportunity to enhance your operations and tackle complex challenges. Why is this program for you? It provides access to cutting-edge research and development facilities, helping you innovate and stay ahead in your industry.
Why should you apply? The program offers financing options that are more flexible and supportive than traditional loans. You can receive funding to develop technologies that improve performance, safety, and resilience in marine operations. This includes solutions for climate change impacts, asset performance, and environmental risks.
What’s in it for you? By participating, you gain access to over 90 experts and state-of-the-art facilities. This support can transform your ideas into practical solutions, giving you a competitive edge. Is it easy to qualify? Yes, the program is designed to be accessible for businesses that meet the criteria, ensuring you can benefit from these resources with ease.
Financing Details
Type of Financing: Grant
Eligible Expenses:
- Research and development projects
- Equipment and technology purchases
- Salaries for research staff
- Materials and supplies directly related to the project
- Travel expenses for project-related activities
Use of Funds:
- Funds can be used to cover costs associated with developing new technologies and solutions.
- Funds cannot be used for general operating expenses, debt repayment, or unrelated business activities.
Fees:
- No application fees.
- No administrative fees.
Qualifications
- Must be a business operating within Canada's waterways.
- Must be involved in marine, freshwater, or ice engineering.
- Must be focused on improving the performance and safety of marine operations.
- Must be addressing challenges related to climate change, severe weather events, or environmental risks.
Must be developing technologies for coastal resilience, intelligent marine assets, vessel greening and decarbonization, or digital support.
Disqualifications:
- Businesses not involved in marine, freshwater, or ice engineering.
- Businesses not addressing climate change, severe weather events, or environmental risks.
- Businesses not developing technologies for coastal resilience, intelligent marine assets, vessel greening and decarbonization, or digital support.
Description
This program offers your business a great opportunity to receive up to $1,000,000 in funding. You can use this money to buy new equipment, renovate your workspace, or cover other essential costs.
Here's how you can use the funds:
- Up to $500,000 can be spent on equipment like commercial kitchen appliances, manufacturing machinery, or IT infrastructure.
- Up to $150,000 can be used for software, operational costs, or other expenses that keep your business running smoothly.
The federal government backs 85% of the loan, giving you a strong safety net.
Flexible repayment options are available. You can choose between a variable interest rate, a fixed rate, or a mix of both. You also have up to 15 years to repay the loan, regardless of how you use the funds.
This program is designed to help your business grow and succeed with less financial stress.
Program Steps
Gather Required Documentation: Prepare the necessary documents for your application. You will need:
- Business registration details
- Financial statements for the past two years
- Business plan outlining your project
- Quotes or estimates for project costs
- Proof of insurance
Complete the Application Form: Fill out the application form provided by the program. Ensure all sections are completed accurately.
Submit the Application: Submit your completed application form and all required documentation to the designated program office or online portal.
Follow Up: After submission, follow up with the program office to confirm receipt of your application and inquire about the review timeline.
Attend Any Required Meetings: Be prepared to attend any meetings or provide additional information if requested by the program administrators.
Await Approval: Wait for the program administrators to review your application. They may contact you for further details or clarification.
Receive Funding: Upon approval, you will receive the funding as outlined in the program guidelines. Ensure you understand the terms and conditions associated with the funding.