Five graduates of the Propel Incite accelerator have received $50,000 each in pre-seed funding from Innovacorp and the New Brunswick Innovation Foundation.
The three organizations issued a statement last week saying Innovacorp and NBIF have sunk a total of $250,000 into the companies, two of which come from Newfoundland and Labrador.
Halifax-based Innovacorp and Fredericton-based NBIF said early in 2019 that they would team up to provide early-stage financing to the more promising graduates of Propel’s Incite II program, which teaches companies how to scale. Under the agreement, the two VC