GreenShoots is now closed for submissions. The deadline to apply was Thursday, January 14, 2021, by 11:59 pm AST.
Below are highlights about the opportunity. You'll also find details in the GREENSHOOTS INFO KIT.
Innovacorp, the Nova Scotia Innovation Hub and Bioenterprise Corporation have partnered to support early stage technology companies in the agriculture, agri-food, bioeconomy, clean technology, and related sectors.
Successful applicants will receive up to $40,000 in non-repayable, non-dilutive funding as well as business guidance from seasoned professionals to put their plans into action.
The goal of GreenShoots is to find and support high potential, early stage knowledge-based Nova Scotia companies, and encourage entrepreneurial activity in the province. The support is intended to help improve the export potential of companies, projected impacts on climate change, job creation, and generation of economic impact in rural areas.
Applicants must be a start-up registered and based in Nova Scotia. They must have a new knowledge-based product (i.e., a unique technology solution that cannot be easily duplicated).
Applicants must have a technologies at or beyond Technology Readiness Level 4 (TRL 4+) stage of development (i.e., competitive applicants should have a proof of concept and have completed prototype validation in a laboratory environment, at minimum).
Applicants must have identified a large market pain and established a company around a customer-validated problem.
Applicants must be the majority owner(s) (51 per cent or more) of the start-up and plan to work full-time with the business.
Applicants must be from the agri-technology or bioeconomy sector, including agri-management tools and agri-waste management; anaerobic digestion; aquaculture; bioenergy; bioproducts (i.e. bio-fibers, bio-composites, biomaterials, bioplastics); crop science and crop protection; fermentation processes; plant genetics; precision agriculture and data analytics; consumer and industrial agri-food innovations; natural health products; and cannabis technology.
Applicants must have less than $1 million in cumulative sales.
Companies that have raised more than $25,000 in equity investment from Innovacorp are ineligible. Stacking of Innovacorp and other government funding programs are subject to review and approval by the judging panel.
Previous GreenShoots recipients are eligible to apply for GreenShoots round two with new milestones that demonstrate traction towards investibility.
How to Apply
GreenShoots is now closed for submissions. The deadline to apply was Thursday, January 14, 2021, by 11:59 pm AST. Applicants were asked to complete the Microsoft Word application form available on the Innovacorp website, answering the questions in the spaces provided, and submit the document online.
Innovacorp is unable to accommodate updates once applications are submitted. If you have questions about the application, please contact firstname.lastname@example.org.
Shortlisted applicants will each have 10 minutes to present their business overview, proposed budget and milestone plan, directly relating to the funding request. The presentation will be followed by a 10-minute question and answer session.
Pitches will be virtual over Zoom. Participants must provide an electronic copy of their presentation 24 hours before their scheduled pitch time.
The pitches are closed to the public. Feedback is provided to all shortlisted applicants on request. Successful applicants who are approved for funding will also engage in a discussion with program advisors as a first milestone.
Successful applicants receive up to 90 per cent of total eligible costs to a maximum of $40,000 in non-dilutive, non-repayable funding, as well as guidance from seasoned business professionals.
The amount awarded is determined by the judging panel. Applicants must demonstrate available sources of capital to complete proposed activities and milestones.
Successful applicants will enter into a program agreement with the Nova Scotia Innovation Hub, Bioenterprise and Innovacorp. Up to six awards are anticipated.
All submissions are treated confidentially and not made available to the public. Only those involved in managing or judging the program view submitted documents. While business details will not be disclosed, the program organizers reserve the right to announce successful applicants.
Questions can be directed to email@example.com.