NBIF Startup Investment Fund
NB, Canada
Seed capital for new products, services and technologies in New Brunswick
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
Partnering and Collaboration
Other Support
grant_single|eligibleIndustries
- Information and cultural industries
- Professional, scientific and technical services
grant_single|grantors
- New Brunswick Innovation Foundation (NBIF)
grant_single|status
grant_card_status|open
grant_single_labels|preview
Existing companies may access up to $200,000 in funding for a new or improved product, service or technology that meets an unmet market need.
grant_single_labels|terms_and_conditions
The NBIF Startup Investment Fund provides financial support through equity investment to facilitate the growth and development of innovative businesses. The investment terms are structured to help New Brunswick startups demonstrate their commercial viability and prepare for future funding rounds.
- Investments are made through preferred shares, common shares, or convertible debentures.
- Maximum funding amount of $200,000 in pre-seed equity.
- The funding should be directed towards refining and commercializing technology, products, or services.
- Access to additional resources such as AWS credits, strategic partnerships, and sales and marketing support.
- Continuous support and guidance through an extensive network and potential governance involvement including a board seat.
grant_single_labels|projects
This fund is designed to assist New Brunswick-based businesses in refining and commercializing their innovative products or services. The eligible activities focus on demonstrating commercial viability and positioning the company for further investment rounds.
- Development and refinement of innovative technologies.
- Commercialization of minimum viable products.
- Market validation through acquiring early adopters or initial customers.
- Preparation for subsequent rounds of investment financing.
grant_single|admissibleProjectsExample
$ 180,000
Scaling a telehealth platform for rural healthcare
$ 180,000
Launching a unique culinary tourism experience
$ 190,000
Refining a business model for an online mental health service
$ 160,000
Developing a cutting-edge AI tool for market analysis
$ 150,000
Validating market potential for a new organic skincare line
$ 200,000
Commercializing an eco-friendly packaging solution
grant_single_labels|admissibility
Eligibility for the Startup Investment Fund is defined by several criteria related to the applicant's business and planned use of the funds.
- The company must be based in New Brunswick.
- The investment is intended for developing innovations and their commercialization specifically from New Brunswick.
- The company should demonstrate commercial viability through traction such as early adopters, revenue, or additional funding.
- A strong management team and co-founders must be present and based in New Brunswick.
- The business must have a Minimum Viable Product, or a novel concept or business model.
- The company should target a large and globally relevant addressable market, with market validation from customers.
- The company should have potential for rapid scaling.
- Intellectual Property potential is advantageous, though not required.
- Applicants need a minimum 12-18 months of financial runway.
- Three-year financial projections are required, with monthly details for the first year and quarterly for the subsequent two years.
grant_eligibility_criteria|who_can_apply
This grant is dedicated to early-stage companies in New Brunswick who have a focus on innovation and commercial viability. To secure pre-seed equity investment, projects must demonstrate significant potential and meet specific criteria.
- Potential to scale rapidly.
- Possibility for Intellectual Property development (note: not mandatory).
- Presence of a Minimum Viable Product (MVP).
- Novelty in concept or uniqueness in the business model.
- A large, addressable and target market with globally relevant market validation from customers.
- Possession of a strong team, including co-founders and a well-rounded management team based in New Brunswick.
- Domain or technical expertise in the relevant market space.
- Financial runway plans covering a minimum of 12-18 months.
- Three-year financial projections with monthly details for the first year and quarterly details for the following two years.
grant_eligibility_criteria|who_cannot_apply
Eligibility criteria for the Startup Investment Fund (SIF) are not explicitly outlined in the provided grant context. Therefore, there are no specific types of companies mentioned that are not eligible for this grant.
Nothing
grant_eligibility_criteria|eligible_expenses
The Startup Investment Fund (SIF) supports the growth and commercialization of innovative products and technologies in New Brunswick. The eligible projects focus on refining business models, developing minimum viable products, and achieving market validation.
- Development and commercialization of technology or innovative product.
- Creation of a minimum viable product (MVP) for market testing.
- Refinement of business models and strategies for scale-up.
- Demonstrating the commercial viability of a product or idea.
- Building a strong co-founder and management team in New Brunswick.
- Pursuing intellectual property opportunities.
- Market validation through potential customer engagement.
grant_eligibility_criteria|zone
This investment fund is available to companies established in New Brunswick. It aims to foster innovation and business development within this specific geographical area.
- Companies based in New Brunswick, Canada.
grant_single_labels|criteria
The evaluation and selection of projects for the Startup Investment Fund (SIF) are guided by distinct criteria aimed at identifying companies poised for rapid growth and successful commercialization.
- Potential to scale rapidly.
- Existence of a Minimum Viable Product.
- Novelty and uniqueness of the concept or business model.
- Large addressable and target market.
- Global relevance with market validation from customers.
- Strength of the team, including co-founders and a well-rounded management team based in New Brunswick.
- Team's domain or technical expertise in the market space.
- Minimum 12-18 months of financial runway.
- Three-year financial projections with detailed monthly and quarterly breakdowns.
grant_single_labels|register
- Step 1: Determine Eligibility
- Review the criteria to ensure your company is eligible for the Startup Investment Fund (SIF).
- Confirm your presence and business operations in New Brunswick.
- Step 2: Prepare Your Business Pitch
- Highlight your product or service, including a demonstration of commercial viability.
- Showcase any traction such as early adopters or revenue.
- Outline your plan for raising additional rounds of investment with necessary milestones.
- Prepare financial projections for the next three years, detailing monthly projections for the first year and quarterly for the following two.
- Step 3: Assemble Required Documents
- Prepare documentation demonstrating your team’s expertise and market space knowledge.
- Compile evidence for any received non-dilutive capital such as grants or loans.
- Prepare your company’s current financials and business plan.
- Step 4: Submit the Application
- Contact the fund provider to initiate your application process.
- Provide all required documents and information as per the submission guidelines.
- Ensure clarity and completeness in your submission to facilitate the due diligence process.
- Step 5: Follow-Up and Await Decision
- Maintain communication with the investment team for updates on your submission.
- Participate in any requested meetings or reviews during the evaluation process.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- Investments may be made through preferred shares, common shares, or convertible debentures.
- The investment aims to help startups reach their next round of financing within 12-18 months.
- The investment team provides support beyond financial investment, including mentorship and network access.
- Strategic partnerships offer applicants significant discounts on services such as AWS credits and CRM tools.
