The Innovation and Business Development Fund is focused on investments to grow Newfoundland and Labrador’s oil and gas supply and service capabilities, including opportunities to diversify capacities in other energy sectors. The program is a key mechanism to facilitate the necessary collaboration, investment and industry growth required to position Newfoundland and Labrador globally as a preferred location for energy development.
Innovation and Business Development Fund
The Department of Industry, Energy and Technology administers the fund, ensuring coordination with the programs of the Innovation and Business Investment Corporation.