The New Brunswick Innovation Foundation is seeking proposals for its biannual business development competition, Breakthru 2018/2019.

The competition is a chance for New Brunswickers with a growing business idea to win access to startup capital, mentoring and support from successful founders and companies.

Breakthru is currently seeking proposals in the form of an application, a 60-second video pitch, and an executive summary of the business idea. Each team is required to pay an $85 entrant fee. Applicants can submit a solo proposal or apply as a team. You can read the eligibility guidelines in Breakthru’s participant handbook, here.

Those who meet the eligibility criteria will proceed to the Breakthru Boot Camp on Dec. 1. 2018. From there, participants will put together a completed draft of their business plan for Jan. 10.

 group of ten semi-finalists will be chosen by the end of January and will participate in a second bootcamp focused on pitching and one-on-one meetings with community stakeholders and NBIF staff.

First, second and third place winners will be announced at the Breakthru LIVE Awards Dinner on March 21. A total pot of $350,000 will be awarded to the top three finalists; $200,000 for first, $100,000 for second and the remaining $50,000 for the third place winner.

“The goal for Breakthru 2018/2019 is to find aspiring New Brunswick entrepreneurs with an idea for a business and surround them with support provided by NBIF and our great sponsors that allows them to take that idea and turn it into a business full of potential,” said Raymond Fitzpatrick, the Director of Investments for NBIF.

“This is a business plan competition, but the two ‘bootcamps will cover everything from business planning to legal, accounting, sales, and pitching that are necessary skills for anyone looking to start a business.”

Click here to apply for this year’s Breakthru competition.