The Small Medium Enterprise IRP Offers up to $2M in Funding for Businesses in Nova Scotia
The Nova Scotia Business Inc. (NSBI) is launching the Small Medium Enterprise Innovation Rebate Program (SME IRP). This is a new program that supports capital investments at a lower cost value than NSBI’s current Innovation Rebate Program, allowing for more Nova Scotia businesses to benefit.
The SME IRP is available to Nova Scotia companies with 499 or fewer employees and works as a rebate of up to 25% against a company’s direct project costs. Completed applications must be received by September 15, 2021.
- Advanced manufacturing and processing
- Non-traditional energy source development
- Life sciences
- Aerospace and Defence
- Information and Communication Technology (ICT)
- Ocean Technology
- Professional, scientific, and technical services
An eligible project must have a total budgeted investment (excluding tax) of not less than $375,000. The maximum amount of eligible project costs is $2 million. Eligible projects may include, but are not limited to:
- Implementation of new or significantly improved production processes or waste stream processing
- Investment in production capacity to enter new markets and/or produce new products
- The establishment of new production facilities in Nova Scotia