Invest Nova Scotia — Greenshoots

💡What Is This Program?

🎁What Benefits Are Offered?

Non-repayable, non-dilutive funding (up to 90% of eligible costs to a maximum of $40,000) and business guidance from seasoned professionals to support early-stage technology companies.

📋What Are the Application Steps & Timeline?

📄What Documents Are Required?

✅Required DocumentsSource

• Microsoft Word application form

📐Format RequirementsSource

Microsoft Word format for application form

📥Templates AvailableSource

• Application Form

💰What Expenses Are Eligible?

🧾Eligible ExpensesSource

• Travel costs if they are part of the approved milestone plan or approved in advance of travel
• Incremental internal employee labour directly attributable to the proposed milestones
• Services from others, including consultants
• Consumables

🚫Ineligible ExpensesSource

• Costs of land, building or vehicle purchase
• Equipment (leased or purchased)
• Facility rental costs
• Office furniture and items such as coffee makers, microwaves, decor and other non-essentials
• Refinancing
• Cost of intangible assets such as goodwill, whether capitalized or expensed
• Depreciation or amortization expenses
• Interest on invested capital, bonds, debentures or mortgages
• Bond discounts
• Losses of investment, bad debts and any other debts
• Fines or penalties
• Costs related to litigation
• Founder and owner salaries
• Non-incremental employee wages
• Fees for administrators, including payments to any member or officer of the recipient’s board of directors
• Opportunity costs
• Food, accommodation and entertainment costs
• Costs of membership in a professional body
• Lobbyist fees

📏Expense CapsSource

GreenShoots contributions will be a minimum of 10 per cent of total eligible activity costs

💳Payment ModelSource

reimbursement

⏪Retroactive Expenses EligibleSource

No

🤝Is Matching Funding Required?

🔀Matching RequiredSource

Yes

📊Matching RatioSource

10% minimum

🏦Eligible Matching SourcesSource

• cash
• in-kind

📚Stacking RulesSource

subject to review and approval by the judging committee

🛡️Proof of Matching RequiredSource

supporting receipts and invoices prior to funding disbursement

📊What Are the Reporting Requirements?