Through the launch of a province-wide Industry Innovation Challenge, the Government of New Brunswick will be committing up to $15 million to fuel industry innovation in the province over the next five years. This initiative is a key element of the $80 million commitment to grow innovation, research and development.

This competition will support the creation of up to six large-scale initiatives which will seek to transform our industries by mobilizing and focusing R&D assets to fuel economic growth.

Successful initiatives will accelerate their capacity to pursue new products and markets while developing world-class expertise and feeding the growth of research clusters.

They will be chosen through a competitive process under the auspices of the New Brunswick Research and Innovation Council. New Brunswick will match industry cash and in-kind contributions through investments of up to $5 million per initiative over five years.

Provincial and private-sector investment in these initiatives will also leverage other funding partners, leading to a potential value of well beyond $10 million per initiative to bring our best and biggest ideas to markets across North America and around the world.

Who can win the Industry Innovation Challenge?

Projects supported in this competition will have created a large-scale industry R&D mobilization initiative able to support a niche area of economic development with the potential to create and/or solidify a clear market advantage.

Initiatives must be led by industry either through an individual company or an industry consortium.

Eligible Initiatives:

• Creation of tangible benefits and innovations for
  industry and the province;
• Development of new national and international markets;
• Ability to respond to the selection criteria detailed in the
  call for proposals.

The deadlines for submissions of a letter of intent are December 13, 2013 (first round) and May 30, 2014 (second round).

For more detailed information on the Industry Innovation Challenge, or to set up a meeting to discuss an initiative, please email us at innovation@gnb.ca or visit our website.