The 2016-2017 Productivity and Innovation Voucher Program is closed for submissions (but only after we received more than 150 applications!). The deadline for applications was Friday, July 8, 2016, at 5:00 pm AST.
Below are highlights about the program.
The Productivity and Innovation Voucher Program is intended to help small and medium-sized businesses become more productive and innovative while building stronger linkages between businesses and Nova Scotia universities and colleges.
The productivity and innovation voucher is a credit note for companies to access expertise and technical solutions from the province's academic institutions. Examples of eligible services include applied research, engineering services, prototyping, product design, market advice and field testing. Vouchers are valid until March 31, 2017.
- Tier 1: Vouchers of up to $15,000 for eligible businesses that have not previously been awarded a voucher, or are applying with a new project.
- Tier 2: Vouchers of up to $25,000 for eligible businesses to build on work done through a previously awarded Tier 1 voucher.
- Past Tier 1 voucher recipients are eligible to apply for a second Tier 1 voucher. The second Tier 1 voucher application must be for a different project than the previously awarded Tier 1 voucher.
- The applicant is a registered Nova Scotia business. Businesses operating in Nova Scotia must register with the Nova Scotia Registry of Joint Stock Companies (RJSC). Details are available from Service Nova Scotia. Successful applicants will be issued vouchers using the same name as the one used in their RJSC registration.
- The majority of the company’s workforce currently resides in Nova Scotia.
- The company has fewer than 100 employees at the time of application.
- A company may have only one active voucher at a time.
- The vouchers are non-transferable or assignable, and shall be void if reproduced, transferred or assigned.
- Vouchers can only be used to obtain services from eligible service providers. Companies are asked to select a provider and service that best fits their needs. Applicants must discuss their project with an eligible service provider and lead researcher prior to submitting an application.
- Prior to work being undertaken and by November 1, 2016, the service provider will submit for Innovacorp’s approval a project contract that provides preliminary details on the type of service and service costs associated with each voucher project.
The project must clearly demonstrate the potential to contribute to the development of a new value-added product, service or process that will help a business become more innovative and productive.
Voucher applications will be evaluated to determine the merit of the proposed project for funding. A clear and detailed project description is critical.
The scope of work and budget must be developed with input from the service provider. The scope of work should be developed so that it can be reasonably expected to be completed within the program’s timelines and budget.
Voucher applications will be reviewed by Innovacorp, with input from service providers, to evaluate the following criteria:
- Productivity and Innovation: Contribution to improved productivity and/or contribution to the development of a new value-added product, service or process.
- Service Provider Fit: Potential of the service provider to provide the proposed services identified in the application.
- Business Impact: Potential for commercialization or commercial application. There is market demand and/or a customer pain that is being addressed.
Innovacorp clients and investment portfolio companies are eligible for this program. Submissions from these companies will go through a separate evaluation process with external reviewers.
The 2016-2017 Productivity and Innovation Voucher Program is closed for submissions. The deadline for applications was Friday, July 8, 2016, at 5:00 pm AST.
All applicants will be notified about the results by August 12.
For more information, contact us by email at email@example.com or call Amanda Tarr at 902.424.8670 ext. 1601 or 1.800.565.7051 (Toll Free in Atlantic Canada).