NBIF Startup Investment Fund
Highlights
Our Startup Investment Fund (SIF) is designed for businesses like yours. It offers up to $200,000 in pre-seed equity investment to help you demonstrate your product's commercial viability. This funding can be used to refine and commercialize your technology, innovative product, or service. The goal is to help you reach your next round of financing within 12-18 months.
What You Get:
- Up to $200,000 in pre-seed equity investment
- Preferred shares, common shares, or convertible debentures
- Access to our extensive network and continuous support
- Discounted AWS credits, accounting software, and CRM services
Why Apply:
- Potential to scale rapidly with our financial backing
- Guidance with financial projections and investor presentations
- Sales and marketing support to help grow your business
- Strategic partnerships offering significant discounts on essential services
Qualifying for this program is straightforward, and our team is here to support you every step of the way. This investment can be a game-changer, providing the resources and expertise needed to take your business to the next level.
Financing Details
Type of Financing:
- Equity Investment: Up to $200,000 in pre-seed equity investment.
Repayment Terms:
- Equity Investment: No repayment terms as it is an equity investment. The investment is made through preferred shares, common shares, or convertible debentures.
Eligible Expenses:
- Developing your business from New Brunswick.
- Refining and commercializing your technology, innovative product, or service.
Use of Funds:
- Funds can be used to demonstrate the commercial viability of your product or idea.
- Focus on reaching your next round of financing within 12-18 months.
Ineligible Expenses:
- Funds cannot be used for personal expenses or non-business-related activities.
Fees:
- There are no explicit fees mentioned for this program. However, all investments are subject to due diligence, negotiation, and appropriate approvals.
Qualifications
- Must be a New Brunswick company.
- Must be in the early stages of commercialization.
- Must have a product or idea with commercial viability.
- Must have a minimum viable product.
- Must have a novel concept or unique business model.
- Must have a large addressable and target market.
- Must have a strong team, including co-founders and a well-rounded management team, based in New Brunswick.
- Must have domain or technical expertise in the market space.
- Must have a minimum of 12-18 months of runway.
Must provide three-year financial projections with monthly detail for the first year and quarterly detail for the following two years.
Disqualifications:
- Businesses not based in New Brunswick.
- Businesses without a minimum viable product.
- Businesses without a well-rounded management team in New Brunswick.
- Businesses without 12-18 months of runway.
- Businesses unable to provide detailed financial projections.
Description
The Startup Investment Fund offers up to $200,000 in pre-seed equity investment for your business. This money is meant to show that your product or idea can succeed in the market. You can use it to develop your technology, product, or service further. The goal is to help you reach your next round of financing within 12-18 months.
The investment comes through preferred shares, common shares, or convertible debentures. This means you get the funds you need without taking on debt. You won't have to pay back the money directly; instead, we take an equity stake in your business.
Beyond the money, you get continuous support from our investment team. This includes access to our network, help with financial projections, and guidance on investor presentations. You also get discounts on services like AWS credits, accounting software, and CRM services. This support can help you grow your business more effectively.
Program Steps
Prepare Documentation:
- Business Plan
- Financial Statements
- Three-year financial projections (monthly detail for the first year, quarterly for the next two)
- Details of any additional non-dilutive capital received (grants or loans)
- Information on early adopters (paid or unpaid)
- Evidence of revenue, if applicable
Draft a Pitch:
- Highlight your product or idea's commercial viability
- Outline your market, team, and financials
- Include milestones and a plan for raising additional rounds of investment
Contact the Investment Team:
- Email [email protected] to express your interest and initiate the application process
- Be prepared to discuss your business plan and financial projections
Submit Your Application:
- Provide all prepared documentation and your pitch
- Ensure all information is accurate and complete
Participate in Due Diligence:
- Respond promptly to any requests for additional information or clarification
- Be available for discussions and negotiations
Review and Finalize Terms:
- Discuss the investment terms, including the type of shares or convertible debentures
- Agree on the final terms and conditions of the investment
Receive Investment:
- Upon approval, receive up to $200,000 in pre-seed equity investment
- Use the funds to refine and commercialize your technology, product, or service
Leverage Additional Support:
- Access strategic partnerships for discounted services (e.g., AWS credits, accounting software, CRM services)
- Utilize the investment team's guidance and network for further growth