Productivity and Innovation Vouchers Program

Small- and medium-sized businesses now have a more convenient option to help develop innovative ideas and increase their productivity.

Beginning today, Nov. 24, the Department of Economic Development will accept applications from business for the Productivity and Innovation Pilot Program. The program awards eligible businesses with vouchers of up to $15,000 to help purchase services and expertise to expand their businesses.

The program offers businesses a wide range of services and support. For example, vouchers can be used for investing in new technology, product design and prototypes, research and development, audits, and managing intellectual property.

"This program builds on government's commitment to create lasting economic benefits by stimulating business innovation and increasing productivity," said Economic Minister Angus MacIssac. "It meets the unique needs of small- and medium-sized businesses by providing them the flexibility to choose the expertise they need in a way that fits their schedule."

The Department of Economic Development will issue the vouchers directly to qualifying businesses on a first-come, first-serve basis. Once approved for a voucher, a business will choose from an approved list of service providers to arrange for the specific work to be done.

"Innovation is vital to the lifeblood of any business," said Chris Pelham, executive director for the Acadia Centre for Social and Business Entrepreneurship. "We are excited to be part of a program working closely with businesses to help give their products and services a competitive edge."

Funding for the pilot program was allocated in the 2008-09 provincial budget.

For more information on the Productivity and Innovation Voucher program and list of service providers, visit the website at www.gov.ns.ca/econ/pnivouchers/ .