NBIF has launched a new series of funding programs with the goal of “Providing access to AI expertise, talent and research for NB companies to increase their productivity and competitiveness”.
The programs:
- Launched on October 21, 2021 and close August 21, 2022
- Are run by the New Brunswick Innovation Foundation
- Will invest $3.2M in Artificial Intelligence (AI) R&D in New Brunswick
These programs are exclusively offered to companies who:
- Are headquartered in NB
- Have a problem statement showing how AI might be able to help their business
- Had demonstrated revenue in FY20-21
- Have digitized data and can use computers to control aspects of their operations
NBIF are looking for projects that:
- Involve a researcher based at one of NB’s universities, colleges, or research institutions
- Center on an application of AI - the use of robotics or data analytics alone does not qualify
- Are a maximum of 1.5 years in length
- Can help your company to test, adopt or implement an AI based solution
The financing on approved projects:
- Is a non-repayable grant
- The NBIF funding is paid directly to the academic researcher
- Eligible expenses include salaries (at the academic institution), software, consumables, travel and limited hardware (any equipment purchased remains property of the academic institution)
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