Newfoundland and Labrador Innovation and Business Development Fund
The Innovation and Business Development Fund supports projects that grow oil and gas supply and service capabilities and diversify into other energy sectors.
About this program
The Newfoundland and Labrador Innovation and Business Development Fund supports investment, collaboration, innovation, and industry growth in the province's oil and gas supply and service sector, including opportunities to diversify capabilities into other energy sectors. The fund is administered by the Department of Energy and Mines and coordinated with Innovation and Business Investment Corporation programs. Commercial and non-commercial applicants can use the fund for eligible projects that strengthen the province's position as a preferred location for energy development.
Eligibility
Eligible commercial and non-commercial applicants in Newfoundland and Labrador may apply for projects that grow oil and gas supply and service capabilities or diversify into other energy sectors.
Requirements
- Project must relate to energy development, oil and gas supply and service capabilities, or diversification into other energy sectors.
- Applicant must use the commercial or non-commercial application process as appropriate.
- Applicant must provide project scope, eligible costs, business or organizational details, and financing information.