The Cape Breton Island Futures Fund (CBIFF) seeks to contribute to the economic future of Cape Breton Island by providing early stage financial assistance, and non-financial business support to encourage the launch of promising ideas, to seed start-up companies, and foster existing small and medium-sized enterprise (SME) developing new products or services of shared interest.
The fund will support the development of business ideas, products or services that target market opportunities in:
- Clean Technology, or technologies that improve business performance while using resources more responsibly and reduce negative environmental impacts
- Sustainability Issues (energy, water, food, materials, housing, green products, carbon mitigation etc.)
- Other sectors demonstrably value adding or supportive of desirable societal outcomes such as health/wellness, sustainable communities, community cohesiveness, and or community economic development.
- Grant: up to $10,000 conditional grant for qualifying Cape Breton University (CBU) or Nova Scotia Community College (NSCC-Marconi-Straits) student, faculty or staff led enterprise qualifying for occupancy in the Island Sandbox.
- Seed: up to $25,000 business loan for a qualifying Pre-sales enterprise (25% match required; terms negotiable) or Post-sales enterprise (25% match required; 5% per annum interest; 2 year term loan). Pre-requisites: a member of the Island Sandbox; a registered business in Nova Scotia.
- No deadline for submissions
- Access to Island Sandbox space, programs, services, advisors, and business mentors (Verschuren Centre, Shannon School of Business, Nova Scotia Community College – Marconi Campus).
- Conditional access to Verschuren Centre labs and piloting facility.
- Application form submitted – CBIFF Application Form
- Form (along with any supporting information) reviewed by CBIFF committee for eligibility and merit
- Applicants of interest invited to pitch to CBIFF fund managers
- Final decision and notification within 2-3 weeks of interview
- Disbursement of funds within 2-3 weeks of decision
Have novel business idea? We want to hear about it. We want to help!