ChangeMaker Funding Program – Catalyst Funding

By mmuise
Description:

Catalyst Funding supports entrepreneurs, companies, students and fail forward applicants with their early-stage market validation & engagement activities, including: market studies or surveys, travel to access potential markets or customers, hiring of expertise to assist with development of a business/financial model, any costs relating to connecting to the market or potential customers (web presence, marketing, etc.) provided that this is specifically related to validation and development of prototype or beta product required to test the market (only in special circumstances-limited).


Comments on Funding:

Funding is up to $5,000 for entrepreneurs, companies, NouLAB prototyping, up to $1,000 for students to test ideas and up to $5,000 for fail forward applicants.
Applicants are only eligible to be awarded total Catalyst Funding and Saint John TGF to a maximum of $5,000.
Funding awards are taxable.

Deadline: -
Eligibility:

The applicant must:

  • be an entrepreneur, a company, student or a fail forward applicant with an idea to solve a real-world problem or issue with an innovative and disruptive technology or platform, or an innovative product or service, or an innovative approach or process, or a socially innovative, or ‘tech meets social’ idea, or something that has yet to be discovered or developed, or any combination of the above.
  • reside in New Brunswick or Prince Edward Island (subject to discretion of PDC Executive Board). In the case of corporations, the majority of shareholders must reside in the eligible province and the registered office must be in the eligible province. In the case of partnerships, the majority of partners and ownership must reside in the eligible provinces.
  • focus on the following key priority areas: Health & Wellness, Immigration & Retention, Poverty Reduction.
  • be PDC/New Brunswick Social Policy Research Network (NBSPRN) Program Participants or must be invitated to apply.

    ALL funding recipients are REQUIRED to participate in the Innovators' Jump Start Program.
Application Steps:

Applicants:

1. must submit the online application form,

2. who have been short-listed will be notified by email and will often be invited to a meeting to discuss and determine the terms of award,

3. will be asked to submit proof of residency for the company/entrepreneur, if successful. Once due diligence is completed, a Letter of Award and Terms & Conditions Contract will be issued.

Documentation Needed:

Applicants must submit:
1. the online application form,
2. proof of residency for the company/entrepreneur, if the application is successful.

Funding recipients are required to provide interim and final progress reports.

Other Things to Note:

The ChangeMaker Funding Program is NOT about the funding. While the funding helps early-stage entrepreneurs and innovators test ideas and build sustainable business models, this program is designed to help build success through providing on-going support and opportunities.
The fail forward applicants are entrepreneurs and innovators who have experienced the failure of an idea or venture and they are ready to do an overhaul or pivot, or have an entirely new idea and are passionate about building a sustainable business.They are courageous entrepreneurs, whose ideas, dreams or ventures have failed (usually at least 4-6 months previously), who have learned from the experience, and who are committed to starting over.

About the author
mmuise