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|grantStatusClosed
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- New Brunswick Innovation Foundation (NBIF)
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|terms_and_conditions
The NBIF Venture Capital Fund provides various equity investment options to support the rapid scaling of New Brunswick start-ups. These investments are structured to cater to the growth needs of businesses with market traction.
- Investment amounts typically range from $200,000 to $500,000 per investment round.
- Investments may be made through preferred shares, common shares, or convertible debentures.
grant_single_labels|projects
The NBIF Venture Capital Fund supports the growth and scaling of New Brunswick start-ups with significant market traction. The eligible projects are focused on enabling rapid scale-up through strategic investment in key areas of business development.
- Product enhancement to improve functionality and performance.
- Marketing and branding initiatives to increase customer reach and market penetration.
- Employee recruitment to build a capable and adaptable team.
- Acquisition of additional intellectual property protection to safeguard innovations.
- Other early-stage business operations essential for scaling up and sustained growth.
grant_single|admissibleProjectsExample
$ 400,000
Enhancing software for remote education
$ 325,000
Developing a mobile app for mental health services
$ 400,000
Developing advanced AI systems for financial institutions
$ 300,000
Creating a marketing campaign for eco-friendly products
$ 300,000
Establishing a food cooperative for local farmers
$ 350,000
Launching a new e-commerce platform for artisan crafts
grant_single_labels|admissibility
Eligibility for this venture capital investment is determined by specific criteria related to the start-up's profile and potential for growth.
- The company must be a start-up based in New Brunswick with demonstrated market traction.
- The company should have meaningful revenue generation and a growing team to support increased product demand.
- The management team should include co-founders and be well-rounded with domain or technical expertise in the market space.
- There should be interest from new investors and successful acquisition of non-dilutive capital, such as grants or loans.
- The company must have a minimum viable product and ideally possess potential for intellectual property.
- A large addressable and target market should be identified with globally relevant market validation from customers.
- The company must have a minimum of 12-18 months of financial runway.
- Three-year financial projections are required, including monthly details for the first year and quarterly details for the following two years.
grant_eligibility_criteria|who_can_apply
This venture capital fund offers seed investment for New Brunswick start-ups exhibiting market traction and preparation for scaling-up. The program seeks companies with specific traits that ensure success and rapid growth.
- Companies generating meaningful revenue and showing market traction.
- A well-rounded team located in New Brunswick, including co-founders and management with domain expertise.
- Start-ups capable of securing interest from new investors.
- Businesses that have previously received non-dilutive capital such as grants or loans.
- Proven potential for rapid scaling and a large addressable target market.
- Globally relevant products with market validation from customers.
- A track record or potential for securing intellectual property, though not mandatory.
- Demonstrated minimum viable product and a unique business model.
- Ability to show financial projections (12-18 months runway) with detailed forecasts.
- Outline of a strategic plan for raising additional funding rounds.
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
The seed investment from the Venture Capital Fund is designed to support activities that help New Brunswick start-ups enhance their products and expand their market reach. These activities focus on essential business operations that facilitate growth and competitive positioning in the market.
- Enhancement of existing products to meet market needs.
- Marketing and branding initiatives to increase customer acquisition.
- Recruitment of employees to expand operational capacity.
- Acquiring additional intellectual property protection.
- Supporting other early-stage business operations necessary for growth.
grant_eligibility_criteria|zone
This grant specifically supports companies based in New Brunswick, ensuring regional ventures receive the necessary seed investment to grow.
- New Brunswick, Canada
grant_single_labels|criteria
The evaluation and selection of projects for this venture capital fund are based on specific criteria to ensure that the investment aligns with the fund’s objectives of scaling innovative start-ups in New Brunswick.
- Potential to scale rapidly.
- Presence of a Minimum Viable Product (MVP).
- Novel concept or unique business model.
- Large and addressable target market.
- Market validation from customers, indicating global relevance.
- Strong team with co-founders and a well-rounded management team located in New Brunswick.
- Domain or technical expertise in the market space.
- Financial projections for three years, with monthly details for the first year, and quarterly for the subsequent two years.
- A minimum runway of 12-18 months.
- Evidence of interest from new investors and receipt of non-dilutive capital.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Review Eligibility Criteria
- Ensure that your start-up is based in New Brunswick and aligns with the investment criteria such as market traction and revenue generation.
- Verify that your company has a strong team and the potential for scalability.
- Step 2: Prepare Your Pitch
- Develop a compelling presentation outlining your product, market potential, and business model.
- Highlight your traction, financial projections, and plans for future investment rounds.
- Step 3: Gather Required Documentation
- Collect relevant documents including financial projections, proof of market traction, team bios, and any IP information.
- Prepare a detailed business plan emphasizing the use of the funds for business growth.
- Step 4: Submit Application
- Contact the VCF via the provided email or application portal (if available) to submit your application and pitch materials.
- Ensure all documents are included and formatted according to the fund provider’s specifications.
- Step 5: Follow Up
- Wait for confirmation of receipt and provide any additional information if requested by the fund provider.
- Prepare for potential meetings with the VCF for further discussions on your application.
grant_single_labels|otherInfo
Here are additional relevant details for the applicant to consider:
- Investments are made through preferred shares, common shares, or convertible debentures.
- The start-up should have milestones laid out for raising additional rounds of financing.
- Having a co-founder and a well-rounded management team is emphasized.
- Investments aim to deliver decisions promptly post due diligence and approvals.
