Atlantic Canada Business Grants

Venture Capital Non-Profit

New Brunswick Innovation Voucher

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Amount:

$80,000.00

Type of Program:

Grants

Description:

The Innovation Voucher Fund (IVF) was designed to provide small and medium-sized businesses in New Brunswick with the scientific expertise and facilities they need to accelerate their growth through research and development (R&D). This includes new products or operational efficiencies.

Comments on Funding:

Funding is up to $80,000 to cover 80% of the cost of an R&D project.
Projects may range in size from $10,000 to $100,000, as to which NBIF will contribute up to a maximum of $80,000.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicants must:

  • be companies,
  • be provincially or federally incorporated and registered to carry on business in New Brunswick,
  • have fewer than 500 employees,
  • have 24 months operating history which includes meaningful sales and employment of staff
  • be committed to collaborating with a researcher at one of New Brunswick’s post-secondary institutions or research organizations.

The project must demonstrate a solid business case, strong market potential and commercial and financial feasibility, the ability to generate a sustained competitive advantage for the company, and the potential for economic impact on the province of New Brunswick.

Application Steps:

Applicants must:

1

submit a complete project proposal to NBIF. Successful applicants will be matched with the research professional(s) they require to carry out the innovation.

2

develop and submit a project work plan and budget to NBIF jointly with the collaborating researchers.

3

sign a contract agreement between all parties involved in the project.

Funds will be provided directly to the collaborating research organization under a contract agreement and used by the researcher to offset the eligible expenses that are incurred in relation to the project. 

Any intellectual property (IP) created as a result of the project will be owned by the company that receives the voucher, and for the purposes that the IP was created unless otherwise agreed to by the company.

Documentation Needed: 

Applicants must submit:

  • a complete project proposal providing an in-depth description of the proposed innovation and project work plans that state the objectives and outcomes of the research and development, as well as the expected costs,
  • the signed contract agreement.

Other Things to Note:

No other details available.

Program Contact:

Innovation Voucher - NBIF

NBIF-Innovation-Voucher-Fund-Guidelines-June2020.pdf

Startup Investment Fund (SIF)

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Amount:

$200,000.00

Type of Program:

Investment

Description:

The Startup Investment Fund (SIF) provides New Brunswick entrepreneurs with the investment capital they need to develop their product into a commercially viable venture. This investment will take the form of equity through the purchase of common shares or issuance of convertible debentures. Initial investment from NBIF is expected to be used to leverage additional funding from other investors or funding agencies to fully support the business for a 12 to 18-month period.

Comments on Funding:

Under the SIF, companies are eligible for pre-seed capital investment of up to $200,000.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicants must:

  • be New Brunswick entrepreneurs,
  • have domain or technical expertise in market space, 
  • have 12-18 months of runway.

Application Steps:

1

Applicants must contact the Startup Investment Fund team at proposals@nbif.ca.

Documentation Needed: 

Applicants must submit:

  • a business plan, 
  • three-year financial projections with monthly detail for the first year, and quarterly detail for the following two.

Investors would also like to see a plan towards raising additional rounds of financing, to see the milestones that will create a path that will allow you to raise larger rounds of financing at a higher valuation.

Program Contact:

Startup Investment Fund - NBIF

Venture Capital Fund (VCF)

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Amount:

$500,000

Type of Program:

Investment

Description:

The Ventrure Capital Fund provides New Brunswick startups with the venture capital they need to rapidly grow and deliver their innovative products to customers. This investment will take the form of equity through the purchase of preferred shares, common shares or issuance of convertible debentures.
Capital raised from the Venture Capital Fund is intended to fully support a business for a 12 to 18-month period.  

Comments on Funding:

Funding will take the form of seed investment (i.e., preferred shares, common shares or convertible debentures) ranging from $200,000 to $500,000 per round.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • a New Brunswick startup,
  • have the potential to scale rapidly;
  • have a minimum Viable Product;
  • have a novel concept or unique business model;
  • have domain or technical expertise in market space;
  • have a well-rounded management team;
  • have a minimum of 12-18 months of runway.

Application Steps:

1

Applicants must contact the Venture Capital Fund team at proposals@nbif.ca

Documentation Needed: 

Applicants must submit:

  • a business plan,
  • three-year financial projections with monthly detail for the first year, and quarterly detail for the following two.

Investors would also like to see a plan towards raising additional rounds of financing, to see the milestones that will create a path that will allow you to raise larger rounds of financing at a higher valuation.

Program Contact:

Venture Capital Fund (VCF) - NBIF

Venture Capital Investment Process - NBIF