Ignition Funding is designed to help early-stage changemakers kick-start their validated idea into business model development and for mvp prototype development.
Funding will be subject to the Letter of Award which specifies the amount of the award, the term of the funding, and the eligible expenses.
Funding will be subject to a Terms & Conditions contract which specifies the amount of the award, the term of the funding, and the requirements for funding recipients including provision of regular progress reports.
This document will also specify the holdback which will issued upon successful completion and reporting of the project for which the award was issued.
Funding cannot be applied to
expenses not specified in the letter of award or otherwise approved by the PDC
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 with the exception of PDC agreements with MBA programs with regard to consultation. 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 Ignition Funding to a maximum of $10,000.
Applicants are eligible for only one Ignition Funding application per 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.
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. In the case of partnerships, the majority of partners and ownership must reside in the eligible provinces.
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.
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.