NRC — Towing tank research facility
Highlights
This program is designed for businesses like yours that operate in the marine industry. By participating, you gain access to world-class testing facilities and expert research staff. This can significantly reduce your risk and cost to market.
Key Benefits:
- Customizable Testing Facilities: Tailored to your specific needs, ensuring accurate and relevant results.
- Expert Support: Work with experienced professionals in advanced engineering for complex water environments.
- Comprehensive Tools: Utilize state-of-the-art equipment for a wide range of tests, from hydrodynamic force measurement to motion studies.
Why Apply?
- De-risk Your Innovations: Validate and demonstrate your technologies before bringing them to market.
- Accelerate Time to Market: Reduce development time with early-stage involvement from our experts.
- Competitive Advantage: Leverage our unique capabilities to stay ahead in your industry.
Qualifying for this program is straightforward, making it an excellent opportunity to enhance your business's research and development efforts.
Financing Details
Type of Financing: Grant
Repayment Terms and Interest Rates:
- This is a grant, so there is no repayment required.
- No interest rates apply.
Eligible Expenses:
- Research and development activities.
- Purchase of specialized equipment for testing and evaluation.
- Costs associated with testing in the NRC's towing tank facility.
- Salaries for researchers and technical staff involved in the project.
- Materials and supplies directly related to the project.
Ineligible Expenses:
- General operational costs not related to the project.
- Marketing and promotional expenses.
- Travel expenses not directly related to the project.
- Office supplies and administrative costs.
Fees:
- There are no application or processing fees associated with this grant.
Qualifications
- Must be a business involved in marine systems, such as bulk carriers, patrol vessels, sailing yachts, ice breakers, and submarines.
- Business must require testing in marine conditions, including calm water, waves, resistance, propulsion, seakeeping, and maneuvering.
- Must need access to specialized marine testing equipment, such as a towing tank, propeller open water testing, hydrodynamic force measurement, and motion studies of moored and floating structures.
- Business must be interested in life-saving appliances and human factors testing.
- Must be looking to utilize advanced engineering for complex water environments.
Business must be seeking to bridge the gap between innovation and commercialization in the marine industry.
Disqualifications:
- Businesses not involved in marine systems or marine-related research and development.
- Businesses that do not require marine condition testing or specialized marine testing equipment.
- Businesses outside of the marine industry looking for unrelated testing facilities.
Description
This program offers your business a great opportunity to grow. You can receive up to $1,000,000 to help with various needs. You can use up to $500,000 of this money to buy equipment or improve your rented space.
Eligible expenses include:
- Commercial kitchen appliances
- Manufacturing machinery
- Computers and IT infrastructure
- Renovating a retail space
For other costs like software or operational expenses, you can get up to $150,000.
The federal government guarantees 85% of the loan, giving you a significant safety net. This program is flexible, allowing you to apply significant purchases made in the last 365 days to the loan.
You have different options to pay back the loan. You can choose a variable interest rate, a fixed one, or a mix of both. You have up to 15 years to pay back the loan, no matter what you spend it on.
Program Steps
Gather Necessary Documentation: Prepare the following documents for your application:
- Business plan
- Financial statements (balance sheet, income statement, cash flow statement)
- Details of intended use of funds (e.g., quotes for equipment, project plans)
- Proof of business registration
- Identification documents for business owners
Complete the Application Form: Fill out the application form provided by the program. Ensure all sections are completed accurately.
Submit the Application: Submit the completed application form along with the required documentation to the designated contact or online portal specified by the program.
Consult with Program Experts: Reach out to the program's contact point for any questions or clarifications. This can help ensure your application is complete and meets all requirements.
Review and Follow Up: After submission, monitor the status of your application. Be prepared to provide any additional information or documentation if requested by the program administrators.
Approval and Next Steps: Once your application is approved, review the terms and conditions of the program. Follow the instructions provided for the next steps to access the program's benefits.