NewLab has received particularly strong support over the years from both the Federal Government of Canada and the Provincial Government of Newfoundland and Labrador . It has been awarded a sizable sum of Research & Development money from various government programs to fund its growth. It has received more than $5 million CDN from Canadian Federal Government agencies such as the Atlantic Canada Opportunities Agency and the National Research Council.
It has also secured $1 million CDN from the Government of Newfoundland and Labrador . All awarded funding has been from programs which are focused on the development and commercialization of innovative initiatives.
NewLab is seeking investment from strategic partners in return for equity in the company.
Investment Leveraging
NewLab has a strong track record of leveraging investment for its research projects. NewLab would continue to leverage all new investments with available government funding which could significantly appreciate the value of the investment (average of 4 to 1 leveraging ratio to date). It is important to note that all leveraging from the point of new investment forward would be non-dilutive.
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