Investment

Lab-to-Market Fund

Amount:

No Fixed Amount

Type of Program:

Investment

Description:

The primary objective of the Lab-to-Market fund is to accelerate the development of new or improved technologies and/or transfer knowledge that address specific, well-defined market problems. Lab-to-Market fund emphasizes the importance of validation at all stages of technology development and encourages the application of the scientific method to finding product-market fit.

Comments on Funding:

Funding is up to 33% of projects with NB SMEs or not-for-profit organizations, and up to 25% of projects that do not have NB SMEs or not-for-profit organizations as partners.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

Applicants must be researchers that should have:

a commercialization partner, SMEs or not-for-profit organizations,
student participation,
a clear understanding of the market problem being solved and the competitive advantages of their new technology,
a self-assessment of technology readiness level (minimum TRL 3),
a plan for the intellectual property.

Application Steps:

Applicants must submit their applications and supporting documents via the NBIF Research Portal.

Documentation Needed:

The applicant must submit:

the application form,
project plans that include clear deliverables and timelines.

Program Contact:

Lab-to-Market Fund Application Portal - New Brunswick Innovation Foundation

Volta Cohort

Amount:

$25,000

Type of Program:

Investment

Description:

Volta Cohort provides mentorship, resources and investments of $25,000 through a microfund co-founded by Volta, BDC Capital, Innovacorp and the Atlantic Canada Opportunities Agency.

Comments on Funding:

Funding takes the form of investments of $25,000.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

be a technology-based, early stage start-up,
be based in Atlantic Canada,
have an ambitious idea,
have not received previous investment (i.e. have not closed a financing round).

Application Steps:

submit their application online,

pitch their business at one of the pitch events hosted by Volta every six months, if selected,

pitch their business at the Volta Cohort Pitch Event – competing for investment, if selected among fifteen high potential applicants.

Other Things to Note:

This program provides mentorship, resources and investments of $25,000 through a micro fund co-founded by Volta, BDC Capital, Innovator and the Atlantic Canada Opportunities Agency. The next Volta Cohort event will take place in May 2022.

Program Contact:

Volta - Volta Cohort

Apply for Volta Cohort

Island Capital Partners’ Fund

Amount:

$500,000.00

Type of Program:

Investment

Description:

The Island Capital Partners' Fund invests in high growth potential Prince Edward Island companies.

Comments on Funding:

Investment size usually ranges from $100,000 to $500,000.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

Applicants must be Prince Edward Island companies with high growth potential.

Application Steps:

Applicants must contact Island Capital Partners for further details.

Program Contact:

Home - Island Capital Partners

Food Propel’s Growth Fund

Amount:

No Fixed Amount

Type of Program:

Investment

Description:

Food Propel's Growth Fund provides financial support to food companies on PEI to grow their business. Food Propel is an intensive one-year accelerator program providing selected companies workshops, market investigation, a dedicated mentor team, networking & learning and access to their Growth Fund.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

be PEI food companies,
be willing to take the next critical step to capitalize on their growth potential.

Application Steps:

Applicants must contact Tyson Macinnis at (902) 628-7998.

Other Things to Note:

For more information applicants must contact Tyson MacInnis at (902) -367- 4405 or tyson@foodislandpei.ca.
The Food Island Partnership is supporting the growth of PEI food businesses, providing a series of activities to value-added food companies.

Program Contact:

Food Propel

Food Company Support

Ignition Fund

Amount:

$25,000

Type of Program:

Investment

Description:

The Ignition Fund is a competitive based innovation fund for entrepreneurs seeking start-up capital for a new business venture. Innovation PEI will invest seed capital that will allow the successful applicants to turn venture ideas into tangible, viable businesses.

Comments on Funding:

Funding is up to $25,000 per applicant.
A matching contribution is not required.

When It Ends:

Closed

Deadline:

2022 dates to be announced

Eligibility:

The applicant must:

be entrepreneurs committed to establishing and operating a new business venture on PEI,
at least one applicant/shareholder must be a Canadian resident or have permanent residency and living in PEI,
develop a product or service with potential to be sold outside Prince Edward Island,
not have already received an Innovation and Development Labor rebate,
not have a defaulted outstanding debt obligation on file in the Province’s Central Default Registry.

Application Steps:

submit an application to Innovation PEI,

pitch their idea to the evaluation committee and participate in the question and answer session, if selected.

Documentation Needed:

Applicants must submit an application to Innovation PEI, consisting of:

an overview of the proposed idea including competitive advantages and disadvantages, innovation, and market need,
a description of the founders and management team,
a market analysis that clearly defines the target market, sales and marketing strategy, level of competition and advantage over it, and their revenue model,
a statement of work outlining the development of work over the next year including milestones and timeline,

Other Things to Note:

A successful applicant may be eligible for the Skills PEI Self Employ Program and will not be restricted from applying for other Innovation PEI financial supports and services.

Program Contact:

Ignition Fund