1 / 26

Atlantic Innovation Fund

Atlantic Innovation Fund. Round VIII February 5, 2008. AGENDA. Provide an overview of AIF Define an “Ideal AIF project” Describe Common Pitfalls Q&A Provide contacts and our assistance. AIF at a Glance. 7 Rounds launched and completed to date

morgan
Download Presentation

Atlantic Innovation Fund

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Atlantic Innovation Fund Round VIII February 5, 2008

  2. AGENDA • Provide an overview of AIF • Define an “Ideal AIF project” • Describe Common Pitfalls • Q&A • Provide contacts and our assistance

  3. AIF at a Glance • 7 Rounds launched and completed to date • 247 projects approved; $635 million committed • Round VIII launched May 5, 2010 • Expected announcement January, 2011

  4. AIF Objectives • New technologies, products, processes or services • Commercialization of R & D • Partnerships that strengthen innovation capacity • Maximum benefits from national R&D programs

  5. AIF Focus • Based on merit • Sectors where Atlantic Canada has comparative advantage • Development of clusters • Economic impact • Collaboration

  6. Eligibility • Discrete R&D projects • Eligible proponents include: • Private Sector Firms • Universities and Colleges • Research Institutions

  7. Eligibility (continued) • Eligible sectors: • Natural and applied sciences; • Social sciences and humanities, where linked to technology development & commercialization • No block funding

  8. Funding Limits • Non-repayable contributions: 80% max. for projects undertaken by non-commercial Proponents • Conditionally repayable contributions: 75% max. for commercial projects requiring assistance above $1M • Assistance per project : $3M max.

  9. Other Key Considerations • Project Length: maximum 5 years • Intellectual Property • Environmental screening • Ethics requirements for projects involving human/animal research

  10. Content of Letter of Intent • Applicable Sector • Project/research proposal description (incl. objectives, key team members & collaborators) • Anticipated deliverables and challenges • Estimated project costs, AIF request and sources of other funding • Identified key project collaborators • Commercialization potential • Project Governance

  11. Letters of Intent • Mandatory for project proposal to be considered • Due by June 15, 2010 at 2 pm • Standardized format in terms of content • Must use template available on ACOA’s website (See Guide Annex B-1 of RLIPP)

  12. Content of Project Proposal • Executive Summary • Project Description • Description of Proponent, Key Collaborators and Project Team • Technical Details • Financial Information • Commercialization Potential/Strategy • Economic Benefits • Building Capacity

  13. Project Proposals • Proposals due by September 1, 2010 at 2 pm • Separate proposal for each stand alone project • Standardized format in terms of content • University projects submitted by the institution, not by individuals

  14. Complete Proposal Package • Project Proposal • Administration Form (Annex A) • Declaration Form (Annex A) • Costs and Financing Information (Annex C) • Results Measurement Information (Annex D)

  15. Compliance • Need to address at minimum the essential criteria • All Annex’s must be provided at the time of submission • Project must be ready

  16. Evaluation Process • ACOA Account Managers will conduct initial project assessment and consult with scientific/technical reviewers • Sector Teams will provide strategic overview and prioritize projects • AIF Advisory Board will review and recommend projects to Minister for approval

  17. Criteria Evaluation Capacity Building • Strategic sectors/technologies • Fills a gap in the Atlantic system of innovation & improves innovation Capacity • Is pan-Atlantic in scope • Builds critical mass through networks/cooperation • Attracts new firms, institutions and researchers • Fosters national and international affiliations Economic Benefit • Significant economic benefits for Atlantic Canada • Be Incremental Scientific/Technical • Scientifically and/or technically sound • Support new or improved technologies • Builds on research excellence Management & Financial • Management capabilities • Adequate financing • Leverages funding Commercialization • Commercialization potential • Private sector participation

  18. Ideal AIF Project • Good science, innovative R&D • Strong technical expertise • Good financial structure (e.g. leveraging) • Strong commercialization potential • Draws on collaborative expertise of universities, research centers and private sector • Can be contracted and started within 6 months of AIF award

  19. Common Pitfalls Scientific/Technical • Lack of Technical Detail • Lack of Details on Technical Risks & Risk Mitigation Strategies/Contingencies • Lack of Supporting Preliminary Data • No Demonstration of Innovativeness and Uniqueness of Research • No identification of who is doing what in the Research Plan • Lack of Description of Deliverables/End Products

  20. Common Pitfalls Commercialization • Lack of Demonstrated Private Sector Commitment • Weak Commercialization Partner • Unclear Definition of End Products and their Market Relevance • Lack of Supporting Market Research and Assessment of Competition • No Commercialization Strategy or Path to Commercialization not well defined

  21. Commercialization

  22. Common Pitfalls Management • Lack of Demonstrated Experience in Managing Large Scale R&D Projects • Lack of Experience in Commercializing Research Results • Lack of Evidence of a Strong Scientific and Commercial Advisory Board • Lack of a Strong Project Governance Structure • Lack of Dedicated Project Manager • Management Record of Past AIF Projects

  23. Common Pitfalls Financial • Lack of Confirmed Financing • History of Obtaining Financing Unclear • Lack of Private Sector Cash Demonstrating Commitment • Cash is King • No Contingency or Back Up Plan for Alternative Funding Sources • Maximum Leverage of Co-funding is Encouraged – 50% versus 80% Ask • Requesting Maximum AIF Contribution - $3Million

  24. Common Pitfalls Building Capacity • Duplication of Existing Regional Research Capacity • Over budgeting to Build Research Infrastructure Beyond Project Needs • Lack of Evidence of Strong, Meaningful Partnerships/Collaborations • Pan Atlantic Collaborations Must be Meaningful, International Desirable

  25. Key Dates • Mandatory Letter of Intent by June 15, 2010 – 2 pm. • Complete proposal submitted by September 1, 2010 – 2 pm. • Announcement of Round VIII AIF awards expected in January 2011. • Contracts to be completed within 6 months of AIF award.

  26. Additional Information • Further details, application templates and & updates can be viewed under the Atlantic Innovation Fund banner in the program information section at: www.acoa-apeca.gc.ca

More Related