Atlantic Canada Business Grants

Venture Capital Non-Profit

Startup Investment Fund (SIF)

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 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.

Other Things to Note:

As an early stage seed fund, NBIF's Startup Investment Fund will have a higher risk tolerance than the Venture Capital Fund.

Program Contact:

Startup Investment Fund - NBIF

New Brunswick Innovation Voucher

Amount:

$80,000.00

Type of Program:

Grants

Description:

The Innovation Voucher Fund (IVF) provides New Brunswick SMEs with funding to access scientific talent and facilities they need to engage in R&D opportunities. This could include 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.

Program Contact:

​Innovation Voucher - NBIF

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

Venture Capital Fund (VCF)

Amount:

$500,000

Type of Program:

Investment

Description:

The Venture 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 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:

Under the VCF, startup companies are eligible for venture capital investment up to $500,000.
For companies that are generating revenue with early customer traction, NBIF's venture capital investments typically range from $200,000 to $500,000 per round.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicants must:

  • a New Brunswick startup,
  • have a solid management team,
  • have an innovative product, service or technology, and an attractive market,
  • demonstrate realistic business plan and financials
  • domain or technical expertise in market space. 

Application Steps:

1

Applicants must submit a formal business plan to NBIF electronically at proposals@nbif.ca as an application for funding.
If the business plan fits NBIF's investment strategy, the applicant and his key team members will be asked for a meeting to discuss the opportunity.

Documentation Needed: 

Applicants must submit:

  • a formal business plan,
  • additional information, if required.

Program Contact:

​Venture Capital Fund (VCF) - NBIF

Venture Capital Investment Process - NBIF