Innovation and Business Development Fund
“Newfoundland and Labrador. Natural Resources”
The funder does not disclose this information
Maximum Eligible Amount
Government Grant
Fund Type
The Innovation and Business Development Fund is focused on investments to grow and diversify Newfoundland and Labrador's oil and gas supply and service capabilities. The fund supports The Way Forward on Oil and Gas - Advance 2030: A Plan for Growth in the Newfoundland and Labrador Oil and Gas Industry.
- The key objectives of the fund include: facilitate oil and gas supply chain collaboration; expand local supply, export and diversification opportunities; attract inward investment in areas where there are gaps in innovation, technology and supply chain capabilities and is not duplicating other funding programs; improve oil and gas industry competitiveness by reducing costs related to exploration, development, and operations; and contribute to long-term job creation and economic growth in Newfoundland and Labrador.
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