ChangeMaker Funding Program – NouLAB Prototype Fund

By mmuise
Description:

The NouLAB Prototype Fund provides funding of up to $5,000 to NouLAB teams to prototype ideas to address complex issues.


Comments on Funding:

Funding is up to $5,000.
Applicants are eligible for only one funding application per team for prototyping.
Funding awards are taxable.

Deadline: -
Eligibility:

Applicants must:

  • be NouLAB teams who have completed the Academy, or are in a Standing Lab. To provide a diversity in perspectives, teams must be multi-disciplinary and have representation across sectors from non-profit, business, government and private sector individuals.
  • reside in New Brunswick (subject to discretion of PDC Executive Board). In the case of NouLAB teams, there may be some members who are resident outside the province. In the case of applicants which are 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,
  • use the funding for the purpose of prototyping - exploring ideas & testing solutions to complex challenges.
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Application Steps:

1. Applicants must submit the online application form.

2. Funding will be subject to a Terms & Conditions contract which specifies the amount of the award, the installments, the term of the funding, the holdback and the requirements for funding recipients including provision of regular progress reports and receipts.

3. Funding for prototyping will be distributed through and managed by ONE team lead who will be the primary contact for communications.

Documentation Needed:

Applicants must submit:
1. the online application form,
2. proof of residency for the company/entrepreneur and incorporation and legal documents pertaining to the business structures of applicants, if PDC requests them.

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.

About the author
mmuise