Business and Market Development Program (Newfoundland and Labrador, Canada)
Last modified on February 12, 2015.
|Place||Newfoundland and Labrador|
|Applies to States or Provinces||Newfoundland and Labrador|
|Name||Business and Market Development Program (Newfoundland and Labrador, Canada)|
|Policy Category||Financial Incentive|
|Policy Type||Grant Program|
|Affected Technologies||Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Solar Photovoltaics, Tidal Energy, Wave Energy, Wind energy|
|Program Administrator||Newfoundland and Labrador Department of Innovation, Business and Rural Development|
| Last Substantive Modification
This policy is no longer active. In 2013 the Business and Market Development Program will be absorbed into the new Business Development Fund.
The Business and Market Development Program provides new entrepreneurs and expanding small businesses with funding to help them acquire the necessary expertise to pursue new business ideas and new markets for their products or services. The program supports new growth opportunities in the economy, such as value-added manufacturing activities and export-oriented opportunities.
The program will provide assistance of up to $25,000 in the form of a non-repayable contribution. These funds must be matched on an equal basis by the applicant.
Small businesses (those with less than 50 employees and less than $5 million in annual sales) located and operating in Newfoundland and Labrador, including corporations, cooperatives and other similar structures, are eligible to apply. The applicant must demonstrate that it has the appropriate financial structure and management ability to carry out the project.
Applications will be considered for the following projects: • Developing new markets or researching new product development opportunities. • Technical feasibility research relating to potential new business opportunities. • Acquiring external expertise on production processes, marketing, financial management or other internal company needs for growth and expansion.
|Department||Newfoundland and Labrador Department of Innovation, Business and Rural Development|