Where is the money going? What is it being used for?

Answer

All potential Innovation Fund investments are studied, vetted and approved by the New Dawn Innovation Fund Advisory Investment Committee. The committee is appointed by the Board of Directors.

Board members for 2015 include:

Chair: Doug Lionais, CBU Associate Professor
Secretary/Treasurer: Rankin MacSween, President of New Dawn Enterprises
Marie Walsh, CBRM CFO
Maureen Sullivan, Entrepreneur
Diane Kelderman, President, Nova Scotia Co-op Council
Bob Pelley, Innovacorp
Mary Anne Vuletich, CBRM
Steve Lilley, President, Protocase
Dave Gills, President Gillis Building Supply
Jerry MacNeil, Retired Entrepreneur
Father Ora McManus, New Dawn Enterprises

The 2015 Innovation Fund Advisory Committee includes:

Chair: Doug Lionais, CBU Associate Professor
Secretary/Treasurer: Rankin MacSween, President of New Dawn Enterprises
Marie Walsh, CBRM CFO
Diane Kelderman, President, Nova Scotia Co-op Council
Bob Pelley, Innovacorp
Steve Lilley, President, Protocase

After researching and vetting applicants for investment, formal recommendations for investment will be made and information about the companies will be shared on the New Dawn website and sent to investors.

In the past, investments of the Innovation Fund have included those in Protocase, Marcato Digital, Nova Stream and Halifax Biomedical. The Innovation Fund intends to continue its focus on locally-based, innovative, export-oriented, technology companies.

Investment Process:

Potential investment recipients must be active for-profit businesses based in Cape Breton and listed with the Nova Scotia Registry of Joint Stock Companies.

All potential New Dawn Innovation Fund investments are reviewed and approved by the Innovation Fund board.

Prospective investees must meet all lending criteria, including the provision of three years of financial statements and Canada Revenue Agency Tax Returns.

Following approval of a five-year investment, New Dawn CEDIF businesses must submit annual financial statements for board assessment and pay interest monthly.

 

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