ChangeMaker Funding Program – Ignition Fund

By mmuise
Description:

The Ignition Fund is designed to help early-stage changemakers kick-start their validated idea into business model development and for mvp prototype development.


Comments on Funding:

Funding for entrepreneurs and companies is up to $10,000.
Funding for fail forward applicants is up to $10,000.
Funding awards are taxable.

Deadline: -
Eligibility:

Applicants must:

  • be entrepreneurs/companies who have previously received & successfully completed Catalyst Funding or PDC programming and who are invitated to apply,
  • 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,
  • have completed early-stage market validation,
  • have developed preliminary business model canvas.
    For entrepreneurs who qualify for other PDC programs, all or part of the Ignition Funding might be connected to acceptance and successful particpation in these programs.
Application Steps:

Applicants:

1. must submit the online application form,

2. who have been short-listed will be notified by email and will be contacted for an appointment to discuss next steps and preparation for a pitch presentation with the Funding Committee which will make the final decision on the funding application,

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.

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