$15,000 for NL business technology

Partner with WaterWerks, a techNL Preferred Vendor

The world is digital. Your business needs to be too.

If companies do not move their products and services into the digital environment and build new business models, soon they will be left behind. If you want to figure out how to take advantage of techNL’s Business Solutions Program, call us.

We can show you how. 

TechNL’s Business Tech Solutions Program is in response to the impact on businesses from the unprecedented COVID-19 pandemic and the need to assist firms to respond and adjust. The program will support businesses to acquire technology solutions and processes, pivot their business/delivery models, and generate online sales.

Participating commercial entities will receive a 90 per cent non-repayable contribution towards eligible project costs up to a maximum of $15,000.

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About the Program

What is the Business Tech Solutions Program?

TechNL’s Business Tech Solutions Program is in response to the impact on businesses from the unprecedented COVID-19 pandemic and the need to assist firms to respond and adjust. The program is made available through funding provided by ACOA and the Government of Newfoundland and Labrador. The program will support businesses to acquire technology solutions and processes, pivot their business/delivery models, and generate online sales. Participating commercial entities will receive a 90 per cent non-repayable contribution towards eligible project costs up to a maximum of $15,000.

What is its objective?

The program aims to:

  • Enable businesses to develop new ideas for how they can increase or enhance their online sales revenue and service offerings.
  • Provide the necessary financial support to help purchase and implement technologies/digital solutions.
  • Enable access to the necessary expertise to create an effective, efficient online sales system that generates new revenue streams.
Who is eligible?
  • Sole proprietors, partnerships, companies, social enterprises and commercial enterprises operating within Newfoundland and Labrador.
  • Proposed projects or initiatives should not be in direct competition with local market entities.
  • Should demonstrate capacity to undertake and complete the project or initiative proposed.
Who is not eligible?
  • Not for profit organizations.
  • Business that is a registered charity.
  • Business that does not conduct and operate in Newfoundland and Labrador.
What are the eligible costs?

Eligible expenses include:

  • Capital costs, including software, equipment and other infrastructure required to implement the expansion.
  • Consultants’ fees and technical support.
  • Skills upgrading and training pertinent to project.
  • Planning related costs.
  • Travel that is considered fundamental to the implementation of the initiative or that facilitates customer interaction and end-user research (provincial government rates and per diems must be applied).
  • Printing materials.
  • Project-related materials and any costs necessary to undertake an approved project.
What are ineligible costs?

The following activities are not eligible expenses:

  • Core administrative functions of any organization.
  • Administrative costs.
  • Entertainment.
Application Requirements
  • Applicant identification (business number, contact, etc.).
  • Overall business goals (businesses overall strategic priorities/goals).
  • Objectives and impacts (measurable objectives that your business hopes to achieve through digitalization and map the benefit or impact to the company).
  • Project delivery (project work plan).
  • Budget (project costs and itemized listing aligned with the objectives).
  • Other required documentation (electronic payment enrollment form, copy of articles of incorporation, supplementary information such as proposals from your service provider/consultant or other details).

Note: Ideally, you should start talking to a vendor/service provider/consultant right away and seek a proposal so that you are ready to apply with a quality submission when the application window is open.

Application Process

The TechNL team will screen and analyze all submissions. A weighted scoring matrix will be used to help the evaluation process.

Assessment Criteria

Vision: Do the project objectives advance strategic priorities of the company? (evidence that the project has been devised on evidence of a clear and quantified need or demand.)

Demand/Market: is there substantial evidence of demand for the programs and services the project will deliver?

Impact: Will the project generate a positive impact on the company top-line and bottom line? / Will this project also benefit local stakeholders such as govNL or local tech vendors?

Time frame: Is the project plan/implementation plan detailed enough to gauge project success? / Is the timeframe to realize the project realistic given the scope of work and budget available?

Budget: Does the budget provided align with the objectives of the project? (are they reasonable? are management costs or overheads high? Are the budget line items clearly specified and aligned with the objectives?)

What is the process?
  • The applicant fills out an application form and submits the application with the necessary attachments to the program team.
  • The program team will review the application and conduct due diligence.
  • The program team will inform the application of the funding decision.
  • On approval, a formal letter and agreement is emailed to the applicant for signature.
  • The applicant submits an expense claim form for reimbursement. The expense claim form lists all the tools and services purchased to complete the project.
  • On completion of the project the applicant must submit the required reporting (see below).
Reporting Requirement

Evidence of work completion (Letter indicating the usefulness of the service provided by the consultant and an attachment including the project deliverable i.e. business plans, studies, reports, documented procedures. All submissions will remain confidential).

Application Details
  • We will be launching the program the week of October 26th.
  • Applications for the program may be submitted from October 26 to November 23, 2020.
Expected Project Duration

Projects must be completed by the 2nd week of March 2021 (about three months total duration to execute the project).

Project Financing Examples
  • If your total project costs are $20,000, then 90% of that is $18,000. However, you will receive a non-repayable contribution of $15,000 from us since maximum funding is $15,000.
  • If your total project costs are $15,000, then 90% of that is $13,500. You will receive the full 90% non-repayable contribution of $13,500 from us since it’s within the maximum funding of $15,000