Community and College Social Innovation Fund from the SSHRC
Funding up to $200,000 over 1-3 years for post-secondary institutions, students and community organisations who are looking to collaborate to generate socially innovative ideas. This fund, distributed through the Social Sciences and Humanities Research Council, is used to support social innovation research projects. Proposals must demonstrate that they can bring together the capabilities of post-secondary institutions and community organisations that have research challenges linked to social innovation.
ACOA SEED Capital Initiative
The SEED Capital initiative provides funding for individuals aged between 18-34. The fund, which is determined by the municipality that the entrepreneur is situated in, is used to help start, expand or modernize a business.
Community Business Development Corporation
This loan program is for individuals who are based in rural communities. It provides up to $150,000 per eligible borrower and is a repayable loan with competitive interest rates. The CBDC loan is used for both new and existing Social Enterprises who can demonstrate a reasonable expectation of economic viability.
This loan is offered for 18-34 year olds, for those above 35 a similar program is offered through the BDC. This fund is a collateral-free loan up to $15,000 per business with mentorship included. The partnership with the Business Development Bank of Canada may be able to finance a loan of up to $30,000.
Trico Foundation & Futurepreneur
Designed for non-profits who generate more than 20% of their revenue through business activity, this fund provides loans through both the Trico Foundation & Futurepreneur.
Pond-Deshpande Centre - Catalyst Fund
This fund was created for early-stage changemakers to test out their ideas/innovations through market validation. It is open to all entrepreneurs. Applications are open year-round and provide up to $5000. This fund also includes the Student Catalyst Fund and Failure Fund.
Pond-Deshpande Centre - Saint John True Growth Fund
This fund was created for aspiring entrepreneurs to evaluate their idea; it can also be used to leverage additional funding. It is open to individuals, organizations, faculty and students within the Saint John community with a focus on the priority growth sectors, as described on their website. The fund requires an online application and if successful, individuals/organizations will pitch their idea to a selection panel who will then determine if the grant is administered or not.
Pond-Deshpande Centre - Ignition Fund
Early-stage market validation must have been completed prior to applying for this fund, generally the applicant will have already completed the PDC’s Catalyst Fund Program prior to applying for this fund. The Ignition fund is between $5,000 and $10,000 and is used for idea development into a business model or prototyping stage. A preliminary business model canvas must have been developed prior to applying for the fund.
Canadian Alternative Investment Fund (CAIF) Stream Part 1 – Project Feasibility Study
Part 1 of 3 programs run by the CAIF. The Project Feasibility Study provides grants between $5,000 and $8,000 to be used to work out the needs of an organization and how they can best be met. This grant funds the gap in where an organization is and where they want to be.
CAIF Stream Part 2 – Business Plan Development
Part 2 of 3 programs run by the CAIF. The business plan development grants are between $8,000 and $10,000 for business plan consultation and support. Their purpose is to move from the theoretical idea to the practical. Applicants must have completed the Feasibility Study prior to applying to this.
CAIF Stream Part 3 – Capacity Building Grants
Part 3 or 3 programs run by the CAIF. The Capacity Building Grants are between $10,000 and $15,000 and are made available to assist in the execution of a specific project. This could mean retaining/hiring Project Management expertise and/or Financial Expertise. To receive this grant, applicants must have completed the Business Plan Development
Crowdfunding raises funds through the collection of small contributions of money from the general public using internet & social media. With a clear message, a defined goal of funds to be raised & strong passion for the enterprise, entrepreneurs can raise the funds they need without banks or other institutions. This is an option for gaining funds at any stage of business development.
Equity Crowdfunding essentially allows members of the public act as investors and gain equity within a company through small investments. This style of crowdfunding was passed in legislation in May 2015 in 6 Canadian provinces including both New Brunswick and Nova Scotia. In order for it to be used, an online portal must be created where entrepreneurs can share their venture with the public. As long as the public is completely informed of all details with regards to the business, they can then purchase shares. There is a maximum of $1,500 per investor, with the maximum campaign being $250,000. If the target is not met within 90 days then investors get their money back. Typical crowdfunding counts as taxable revenue, equity crowdfunding does not.
Learn Sphere – Training and Consulting Services Program
LearnSphere provides a $10,000 grant for New Brunswick based SMEs to help increase exporting activities. The fund covers the costs associated with researching and beginning to export outside of Canada.
Learn Sphere – Commercialisation Consulting and Mentoring Program
This grant provides access to financial and technical resources for Atlantic Canada based SMEs to assist commercialisation efforts. There is a maximum grant of $16,750 to be used for testing + validating a product before launch.
ACOA - Innovative Communities Fund
ACOA provides investment in strategic projects that build the economies of Atlantic Canada’s communities. Assistance is non-repayable and the amount provided will depend on an assessment of how much is needed to allow the project to proceed. Applicants must demonstrate that they are beneficial to the economic development of a community.
ACOA - Atlantic Innovation Fund
This support fund is for those with innovative products and services within Atlantic Canada. It is designed for companies looking to adopt existing technology to their enterprise. There is available funding between $500,000 and $3 million.
Mitacs - Accelerate Research Grant
$15,000 maximum grant for student employment (Masters or PhD) who are researching to solve business-related challenges for a business through their university/college. This includes time spent with an industry partner.
CBDC - Women in Business in New Brunswick
A grant developed for women who work in business with: ownership of at least 50% of the organization, 50% of the operation control, involvement in daily operations in a business that has existed for at least 2 years.
NSERC - Engage Grants
This grant, administered by the Natural Sciences and Engineering Research Council, funds grants for university or college researchers/students aiming to launch a research collaboration with an industrial partner. It allows businesses to apply expertise to address a company challenge. Grants are up to $25,000 for a 6-month project. The challenge being addressed must also be of benefit economically, socially and/or environmentally through the potential innovative impact
Trico Foundation - Social Enterprize
The prize is awarded to a Canadian Social Entrepreneur/Social Enterprise that has been doing well for more than 3 years. The award recognizes and celebrates leadership and excellence in social entrepreneurship across Canada.
This privately-backed venture capital fund provides early-stage capital to companies developing breakthrough ideas in the clean-tech sector. Within social entrepreneurship, this fund is focused towards environmental organizations. The fund provides more than just financial resources, ArcTern provide networking opportunities and profile building resources.
Royal Bank of Canada Generator Fund
This fund is investing in for-profit businesses that aim to tackle social or environmental challenges. RBC provides debt and equity investments from $250,000 to $500,000 through a flexible range of structures. With the fund comes a collaborative relationship to ensure that community impact is being met.
For more information on funding, please visit the Funding Database located on the www.ponddeshpande.ca website under the Resources & Tools heading.