Invest Nova Scotia is looking for applicants to its Early Stage Commercialization Fund for university research, rolling over a program from the days of Innovacorp.
The fund offers startups up to $50,000 for assessing their products’ market potential, developing go-to-market strategies and other planning, finishing a proof-of-concept, prototyping and leveraging other funds.
This time, Invest Nova Scotia has also partnered with the Nova Scotia Department of Natural Resources and Renewables to offer a low-carbon commercialization stream, with the two organizations jointly developing the evaluation process and curriculum.
“ESCF helps move Nova Scotia university, college and university-affiliated hospital research to market,” said Invest Nova Scotia in a statement.
“The purpose of ESCF is to provide support for projects demonstrating readiness to advance a technology that has achieved, or is close to achieving, a prototype/proof-of-concept stage and is approaching market readiness with a possibility of attracting industry partners and/or investment. The prospect of generating a new revenue stream must also be apparent.”
The program is open to university researchers who want to license their technology or spin it off into a venture-backable company, but preference is given to the latter group.
Nova Scotia university and college faculty members, as well as staff and clinicians in university-affiliated hospitals are eligible to apply for the Early Stage Commercialization Fund, but the deadline is Feb. 13. Interested researchers can learn more and apply here.