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What is accepted as innovative and ‘new-to-company’ machinery, equipment, technologies and processes under API?

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What is accepted as innovative and ‘new-to-company’ machinery, equipment, technologies and processes under API?

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For machinery, equipment, technologies and processes to qualify as new-to-company, the proposed machinery, equipment, technologies and processes must be different from, and offer benefits over, any other machinery, equipment, technologies and processes already in use by the company or co-operative seeking funding.

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