GreenShoots is now closed for submissions. The deadline to apply was Tuesday, June 22, 2021, by 11:59 pm ADT.
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 create GreenShoots, supporting early stage companies in the agriculture, agri-food, bioeconomy, clean technology, and related sectors.
Successful applicants will each 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.
GreenShoots aims to find and help 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 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 and agri-waste management; anaerobic digestion; aquaculture; bioenergy; bioproducts (i.e., biofibers, biocomposites, biomaterials, bioplastics); crop science and/or 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 Innovacorp and other government funding programs are subject to review and approval by the judging committee.
Previous GreenShoots recipients are eligible to apply for GreenShoots again if they have new milestones that demonstrate traction towards investibility.
How to Apply
GreenShoots is now closed for submissions. The deadline to apply was Tuesday, June 22, 2021, by 11:59 pm ADT. 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 email@example.com.
Shortlisted applicants will each have 10 minutes to present their business overview, proposed budget and milestone plan relating to the funding request. The presentation will be followed by a 10-minute question-and-answer session.
Pitches will be delivered virtually 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 upon request.
Successful applicants each receive up to $40,000 in non-dilutive, non-repayable funding as well as guidance from seasoned business professionals. Up to six awards are anticipated.
Applicants can request up to 90 per cent of the total eligible activity costs, depending on the activities’ size and scope. GreenShoots contributions will be a minimum of 10 per cent of total eligible activity costs and will be determined by the judging committee.
Applicants must demonstrate available sources of capital to complete proposed activities and milestones.
GreenShoots participants will enter into a contribution agreement with the Nova Scotia Innovation Hub, Bioenterprise Corporation and Innovacorp.
All submissions are treated confidentially and not made available to the public. Only those involved in managing or judging the competition view submitted documents. While business details will not be disclosed, the GreenShoots partners reserve the right to announce competition winners.
Questions can be directed to firstname.lastname@example.org.