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 Arthur L. Irving Entrepreneurship Centre’s 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.
DOLLARS IN INVESTMENT
Our fund offers up to $25,000 in the form of a SAFE agreement to businesses who meet the above criteria and successfully pass through the fund’s due diligence process (details below).
*Note: This can take upwards of 6 months or more, and application does not mean that you are guaranteed to receive investment.
How It Works
Due Diligence Process Overview
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.
The Arthur L. Irving Entrepreneurship Centre 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.
The Arthur L. Irving Entrepreneurship Centre 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.
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.
A negotiated term sheet is provided by the Arthur L. Irving Entrepreneurship Centre to SMU’s financial services department to disperse the investment to the business.