Concept Validation

Turning your research results into viable commercial opportunities can be one of the most stimulating and rewarding aspects of innovation. Whether it’s building a prototype, conducting a bench test, clinical trial or pilot project, proving your concept is critical. Together with other funding sources, the RIF can provide the financial resources you need to apply your research results and strengthen its business case.

Concept validation grants are awarded up to $500,000, and are limited to a maximum of 33% of the total cost of the project. Additional funding can include cash, the value of paid release time, in-kind contributions, and contributions from other funding sources. Funds must be expended within twelve months of the date disbursed, however, the foundation will consider extensions up to one year on a case-by-case basis.

Applications accepted for the review process must meet the general eligibility criteria of the RIF and fit with one of the Foundation’s strategic industries.

Dr. Tillman Benfey of the University of New Brunswick received a concept validation grant that could lead to the province’s first Atlantic Cod aquaculture facility. See Dr. Benfey in action and read more about his projects.

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