Multi-Species Research and Development Fund

Research and innovation play a growing role in keeping Newfoundland and Labrador’s fisheries and aquaculture sectors competitive, especially as businesses and organizations explore new species, products, and harvesting or processing methods. The Multi-Species Research and Development Fund is designed to support this kind of forward-looking work by helping offset the cost of applied research and development projects that strengthen the province’s seafood industry.

Administered by the Department of Fisheries and Aquaculture, the program offers non-repayable funding of up to roughly $50,000 to support a significant portion of eligible project costs. It’s well suited for small to mid-sized enterprises, Indigenous groups, industry associations, and non-profits that are actively involved in fisheries-related activities and have the capacity to carry out research on their own or in partnership with others. Projects may focus on improving sustainability, developing new products or processes, or expanding knowledge around underutilized or emerging species, helping organizations turn research insights into practical, commercial outcomes.

Because the fund is typically open to businesses and organizations meeting certain requirements and is focused on real-world application, it can be a valuable option for those looking to test ideas or advance innovation without taking on full financial risk. Business owners and industry groups considering research initiatives may want to explore the full program details through GrantHub to see how this funding could support their next project.