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Saint Mary’s University Entrepreneurship Centre Exploration Fund

Are you a current Saint Mary’s University (SMU) student or recent alumni who is running a start-up? Are you looking for cash via investment to grow your business? If so, we are proud to offer the Saint Mary’s University Entrepreneurship Centre’s (SMUEC) Exploration Fund.  

We want to support businesses that have: 

    • strong user feedback, or traction via early orders or sales;
    • proof of concept, MVP (Minimum Viable Product), or a product already in market;
    • plans to grow the business;
    • well-defined, short-term strategy; 
    • clear market differentiation.  

Due Diligence Process Overview 

  1.   Founder applies to the fund by contacting Matt MacPhee, Manager of Business Design at SMUEC, at matt.macphee@smu.ca. Your application will start with an introductory meeting where we can learn more about your business. We will request more information as needed through the process. Our first steps will likely be to review your pitch deck and executive summary of your business. 
  2.   SMUEC works with SMU’s Venture Grade course. Venture Grade will prepare an investment memo on the company based on a pitch and other supporting documentation that they will request from the founder.
  3.   SMUEC supplies the investment memo to its own Investment Committee formed of experts in the field of start-ups, entrepreneurship, investment, or other fields. Each member supplies their own investment advice. 
  4.   Venture Grade works with the founder’s lawyer to negotiate investment terms for the SAFE. The goal of the fund is to supply terms as favorable as possible to the business while still protecting the fund’s future. 
  5.   A negotiated term sheet is provided by SMUEC to SMU’s financial services department to disperse the investment to the business.  

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