NBIF Venture Capital Fund
NB, Canada
Venture capital for high-risk, growth oriented New Brunswick companies
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|closingDateMay 21, 2024
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- New Brunswick Innovation Foundation
grant_single|status
grant_card_status|closed
grant_single_labels|preview
If you're on the verge of taking your product to market, you may be able to access $200,000 to $500,000 in venture capital.
grant_single_labels|projects
grant_single|admissibleProjectsExample
$400,000
Ottawa
Enhancing software for remote education
$325,000
Calgary
Developing a mobile app for mental health services
$400,000
Toronto
Developing advanced AI systems for financial institutions
$300,000
Vancouver
Creating a marketing campaign for eco-friendly products
$300,000
Halifax
Establishing a food cooperative for local farmers
$350,000
Montreal
Launching a new e-commerce platform for artisan crafts
grant_single_labels|admissibility
The eligibility criteria for this grant are:
- 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
- Having a strong team with co-founders and well-rounded management team in New Brunswick
- Domain or technical expertise in market space
- Minimum 12-18 months of runway
- Three-year financial projections with monthly detail for the first year, and quarterly detail for the following two
grant_eligibility_criteria|who_can_apply
There are eligible types of companies for this grant.
- Start-ups with customers and market traction
- Companies generating meaningful revenue
- Teams supporting increased product demand
- Interest from new investors
- Successful receipt of additional non-dilutive capital in the form of grants or loans
grant_eligibility_criteria|who_cannot_apply
There are specific types of companies that are not eligible for this grant.
- Companies without customers or market traction
- Companies that do not have a scalable business model
- Companies with limited growth potential
grant_eligibility_criteria|eligible_expenses
Eligible expenses for this grant include:
- Product enhancement
- Marketing and branding
- Employee recruitment
- Acquiring additional IP protection
- Other early stage business operations
grant_single_labels|criteria
There are evaluation and selection criteria for this grant. The criteria include potential for rapid scalability, unique business model, strong team with domain expertise, and financial projections for a minimum of three years.
- Potential to scale rapidly
- Novel concept or unique business model
- Strong team with domain or technical expertise
- Financial projections for a minimum of three years
grant_single_labels|register
- Prepare a detailed business plan and financial projections for the next three years:
- This includes a monthly breakdown for the first year and quarterly breakdowns for the subsequent two years.
- Ensure you have a minimum of 12-18 months of financial runway:
- This demonstrates your financial stability and ability to execute your plans.
- Demonstrate how the investment will be used for product enhancement, marketing and branding, employee recruitment, IP protection, and other early-stage operations:
- This clarifies your intended use of funds to scale up effectively.
- Evaluate your team:
- Having a strong, well-rounded team with domain expertise is crucial for success.
- Show your potential to scale rapidly:
- Demonstrate how your business can grow quickly and capture a significant market share.
- Prepare to raise additional rounds of financing:
- Develop a plan with milestones to attract larger rounds of investment in the future.
Apply to this program
Seed Investment from the Venture Capital Fund
Detailed Explanation of the Grant Program:
The New Brunswick Venture Capital Fund offers seed investments ranging from $200,000 to $500,000 per round to start-ups with market traction. This investment is provided through preferred shares, common shares, or convertible debentures to help scale-up innovative products and reach a wider customer base.
Start-ups eligible for this funding should demonstrate significant revenue generation, team expansion to meet product demand, interest from new investors, and successful acquisition of non-dilutive capital like grants or loans. The investment aims to support businesses for 12 to 18 months, enabling product enhancement, marketing, employee recruitment, IP protection, and other early-stage operations.
When evaluating investment opportunities, the VCF focuses on a company's product, market potential, team strength, and financials. While the initial seed investment jumpstarts the business, start-ups are encouraged to plan for subsequent rounds of fundraising. Successful applicants exhibit qualities like rapid scalability, a unique business model, a sizable target market, global relevance, and a competent, well-rounded management team based in New Brunswick.