Policies- Catalyst Fund, SJIF, NouLAB Prototyping

This funding is specifically for idea and market validation expenses which may include: market studies or surveys; travel* to access potential markets or customers; the hiring of expertise to help develop a business/financial model;  any costs relating to connecting to the market or potential customers (web presence, marketing, etc.); development of prototype or beta product required to test the market (in limited circumstances)
Funding will be subject to the Letter of Award which specifies the amount of the award, , the installments, the term of the funding, and the approved eligible expenses.
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. Failure to provide reports on time and properly account for use of funds (including receipts) will result in delays and possible termination of funds. Please review the terms of your contract carefully.
 
Note: that in all cases, the PDC reserves the right to vary the payment installments in order to provide The Right Support at The Right Time. As an example, if you have not expended the funds that you have received in the time that you originally planned, and as a result, have significant funds remaining, we will not send the next installment until it is needed.
 
We are here to help and available at any time for questions or clarifications. We are also pleased to work with you to discuss approved budget line items or an extension of your end date where appropriate. 
 

Funding cannot be applied to expenses not specified in the letter of award or otherwise approved by the PDC.

The following expenses are ineligible:

  • mileage may not be claimed but gas receipts may be claimed if travel expenses for vehicle are approved.

  • personal expenses such as clothing, childcare/baby-sitting

  • alcohol

  • operating expenses

  • legal/incorporation/patent (unless it can be proven it is required for testing the MVP-with a maximum of $1000 which is granted in very rare circumstances and must be pre-approved) 

  • general equipment (in the case of requirement for MVP protyping some exceptions may be granted on a limited and specific basis when pre-approved).

  • wages & salaries (unless granted in extremely rare circumstances ). Funding may be used for consultants as appropriate. Please note that consultants must be at arms length from the applicant. 

Applicants are only eligible to be awarded total Catalyst Funding and Saint John TGF to a maximum of $5,000.

 

Special Circumstances

If a student is awarded $1000 in Catalyst Funding, provided that the milestones & funding terms are successfully met,  where appropriate, the same student may be eligible for up to $4000 in additional Catalyst Funding to further test and develop this idea. 

 

If an entrepreneur/company is awarded less than $5000 in Catalyst Funding, and successfully meets the project milestones & funding terms, the entrepreneur/company may be eligible for additional Catalyst Funding.

 

Applicants are eligible for only one funding application per idea/venture. For example, if the $5000 has already been received, an applicant cannot again apply for an additional $5000 in Funding. As well, if one partner in a company applies for funding, another partner cannot also apply with the same idea/venture.

Applicants are only eligible to be awarded maximum total funding of $15,000 from all eligible PDC funding programs.

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


For applicants who are eligible for, or registered in other programs including, but not limited to, B4Change Social Venture Accelerator & NouLab, all or part of any funding awarded may be linked to participation in and/or successful completion of said program.

Catalyst Fund Applicants must reside in New Brunswick or PEI (subject to discretion of PDC Executive Board).  (B4 Change- Launch/Growth Stage applicants must reside in NB, PEI or NS). 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.

 

Saint John Internship Applicants must reside in the Saint John region and be at registered pilot sites.

The PDC reserves the right to request proof of residency of all applicants and to request and review incorporation and legal documents pertaining to the business structures of applicants at any time related to the purposes of our funding programs including verification of residency of applicants and/or partners/and or shareholders.

 

Time is of the essence: failure to provide documentation in a timely manner upon request will lead to disqualification of application or discontinuation of funding.

Funding recipients are required to bootstrap their operations in order to make the most efficient and effective use of awarded funds.

Funding recipients are required to provide interim and final progress reports (see Terms & Conditions). Failure to provide these updates in a timely fashion will result in delays in receipt of funding installments and may result in funding being terminated.

For frequently asked questions on expectations with regard to expenses and reporting, click here:

Funding Program recipients (grantees & partners) are expected to conduct themselves in an appropriate and respectful manner with PDC team members, and within the entrepreneurial ecosystem. Failure to do so may result in termination of funding and support.

© 2016  Pond-Deshpande Centre, UNB