It lives! Yes indeed, Nova Scotia’s ever-popular Productivity and Innovation Voucher Program, now run by Innovacorp, is on!
The 2015-2016 Productivity and Innovation Voucher Program is now open for submissions. The deadline for applications is July 3, 2015, at 5:00 pm AST.
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. Vouchers are valid until March 31, 2016.
- 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.
- New for 2015-2016! 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. It is recommended that applicants contact an eligible service provider to discuss their proposed project prior to submitting an application.
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 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.
Email completed applications to [email protected] by July 3, 2015, at 5:00 pm AST.
All applicants will be notified about the results on or before August 7, 2015.
For more information, contact us by email at [email protected] or call Amanda Tarr at 902.424.8670 ext. 1601 or 1.800.565.7051 (Toll Free in Atlantic Canada).