The Small Medium Enterprise Innovation Rebate Program (SME IRP)
Enhance your innovation capacity to be more competitive globally.
Due to the high volume of applications to the SME Innovation Rebate Program (SME IRP), the intake period is now closed.
The Innovation Rebate Program (IRP) provides financial incentives to help Nova Scotia businesses increase innovation capacity through private-sector capital investments or the adoption of new technologies and business processes.NSBI is launching the Small Medium Enterprise Innovation Rebate Program (SME IRP), 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. Eligible expenditures include direct costs of Eligible Projects as defined SME IRP Guidelines.
An Eligible Project is a project approved by Nova Scotia Business Inc. and may include:
- 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;
- Or the establishment of new production facilities in Nova Scotia.
An Eligible Project must have a total budgeted Nova Scotia investment (excluding tax) of not less than $375,000. The maximum amount of Eligible Project Costs the SME IRP rebate will be applied against is $2,000,000.
Additional information can be found in the SME IRP FAQ.
Due to the high volume of applications to the SME Innovation Rebate Program (SME IRP), the intake period is now closed and applications are no longer being accepted. For more information, please contact your Regional Business Development Advisor.