Many New Brunswick businesses assume their idea is “innovative” — until a grant assessor says it isn’t. For the NBIF Innovation Voucher, innovation is a specific eligibility requirement, not a buzzword. If your project does not meet NBIF’s definition, your application will not move forward, even if the business itself is strong.
This guide explains how NBIF defines innovation, what qualifies, and how to assess whether your project fits before you apply.
The NBIF Innovation Voucher supports projects that create something new or significantly improved for your business and the New Brunswick economy. According to NBIF, eligible projects must involve a new product, service, technology, or process and demonstrate commercial and financial feasibility.
Incremental upgrades, routine software updates, or adopting off-the-shelf technology usually do not qualify as innovative under this program.
Innovation alone is not enough. Your business must also meet NBIF’s baseline criteria.
To apply, your business must:
Early-stage startups without two years of operations are typically not eligible for this voucher.
Since the funding goes to the research partner, your project must be clearly defined as research and development. Internal business development activities are not eligible.
These project types commonly meet NBIF’s innovation threshold:
If your project depends on expert research capacity you do not have in-house, that is often a strong signal of eligibility.
Tools like GrantHub’s eligibility matcher can help you quickly filter innovation programs by province, industry, and project type before you invest time in an application.
Calling business growth “innovation”
Expanding sales, hiring staff, or entering a new market without R&D does not meet NBIF’s innovation criteria.
Using innovation as a label, not an outcome
Saying your project is innovative is not enough. You must explain what is new and why it matters.
No clear research partner role
If the research institution is doing minor support work, NBIF may view the project as ineligible.
Weak market justification
NBIF expects a clear path to commercialization. Technical success alone is not sufficient.
Q: Does my innovation need to be new to the world?
No. It must be new or significantly improved for your business or market. However, copying an existing solution with no differentiation will not qualify.
Q: Is the NBIF Innovation Voucher a grant or a loan?
It is a repayable contribution, not a non-repayable grant. Repayment terms depend on your agreement with NBIF.
Q: Can startups apply for the NBIF Innovation Voucher?
Only if they have at least 24 months of operating history. Earlier-stage startups should look at other NBIF or provincial programs.
Q: What types of R&D activities are eligible?
Eligible activities include applied research, proof of concept, prototyping, product testing, and demonstrations carried out by a research institution.
Q: Can I combine this voucher with other funding?
Stacking may be possible, but total public funding cannot exceed program limits. NBIF reviews stacking on a case-by-case basis.
Before applying, review NBIF’s definition of innovation and make sure R&D is the main focus of your project. GrantHub tracks hundreds of active grant programs across Canada, including innovation funding in New Brunswick. Check which programs match your business stage, project scope, and research needs so you can focus on funding you are eligible for.
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