How much funding can be received?

Funds up to 200000% of admissible expenses.

What is the deadline to apply?

The deadline to apply is not specified.

NBIF Startup Investment Fund

NB, Canada

Seed capital for new products, services and technologies in New Brunswick

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Loans and Capital investments

Partnering and Collaboration

Other Support

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Information and cultural industries
Professional, scientific and technical services

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New Brunswick Innovation Foundation

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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.

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There are specific projects eligible for this grant:

Developing innovative technology products
Commercializing unique services
Refining and scaling novel business models
Validating market potential through early traction

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$160,000

Toronto

Developing a cutting-edge AI tool for market analysis

$200,000

Vancouver

Commercializing an eco-friendly packaging solution

$180,000

Calgary

Scaling a telehealth platform for rural healthcare

$150,000

Montreal

Validating market potential for a new organic skincare line

$190,000

Ottawa

Refining a business model for an online mental health service

$180,000

Halifax

Launching a unique culinary tourism experience

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The Startup Investment Fund (SIF) provides up to $200,000 of pre-seed equity investment to eligible New Brunswick companies to demonstrate commercial viability.

Potential to scale rapidly
Minimum Viable Product
Novel concept or unique business model
Large addressable and target market
Strong team co-founders and management team in New Brunswick
Minimum 12-18 months of runway
Three-year financial projections and monthly and quarterly details

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There are eligible types of companies for this grant:

Start-ups based in New Brunswick
Companies with a focus on developing innovative technology, products, or services
Businesses demonstrating commercial viability
Companies with traction such as early-adopters, revenue, or previous non-dilutive capital

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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

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Product development costs
Salaries for key team members
Marketing and sales expenses
Legal and professional fees
Technology and equipment costs

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When evaluating start-up investment opportunities, the program looks at factors such as product viability, team strength, market potential, and financial projections. They also prioritize companies with the potential for rapid scaling, intellectual property potential, and a novel or unique business model.

Potential to scale rapidly
Potential for Intellectual Property (not required)
Minimum Viable Product
Novel concept or unique business model
Large addressable and target market
Globally relevant, market validation from customers
Strong team with domain or technical expertise
Minimum 12-18 months of runway
Three-year financial projections with detailed milestones

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Step 1: Submit an application
Step 2: Undergo due diligence process
Step 3: Negotiate terms of investment
Step 4: Obtain appropriate approvals
Step 5: Decision on investment

Apply to this program

Startup Investment Fund (SIF) for New Brunswick Companies

Startup Investment Fund Overview

The Startup Investment Fund (SIF) offers up to $200,000 in pre-seed equity investment to eligible companies in New Brunswick. This funding is aimed at showcasing the commercial viability of the product or idea, with a focus on refining and commercializing technology, innovative products, or services within the province.

Qualifications for SIF Funding

To qualify for the SIF, companies must demonstrate traction indicators such as early-adopters, revenue, or successful acquisition of non-dilutive capital like grants or loans. The investment is typically in the form of preferred shares, common shares, or convertible debentures and is intended to support the business as it progresses towards the next round of financing within 12-18 months.

Criteria for Investment Evaluation

Potential investments are evaluated based on the company's product, market, team, and financials. Key qualities sought include the potential for rapid scaling, uniqueness in concept or business model, presence of a minimum viable product, a large target market, and globally relevant market validation. A strong management team with domain expertise and a minimum 12-18 months of financial runway are also crucial factors in the evaluation process.

Support Beyond Funding

In addition to financial support, the SIF team provides ongoing guidance, access to networks, assistance with financial projections and investor presentations, as well as governance support. Strategic partnerships offer perks like discounted AWS credits, accounting software, and CRM services to portfolio companies, further enhancing their growth opportunities and market presence.

Conclusion

The Startup Investment Fund for New Brunswick companies serves as a vital resource for early-stage businesses looking to develop and commercialize their innovative ideas. With a focus on strategic investment, mentorship, and network access, the SIF aims to propel these companies towards successful growth and scalability in the Canadian market and beyond.