Manitoba Small Business Venture Capital Tax Credit (SBVCTC)
Eligibility & Details
What this program funds and who can apply
Program Description
45% non-refundable tax credit for investors in eligible Manitoba small businesses. Minimum investment of $10,000, maximum $500,000 per company. Eligible businesses can raise up to $10M through the program. Extended to December 31, 2028.
Eligibility Requirements
- Canadian-controlled private corporation (CCPC) with permanent establishment in Manitoba
- Less than $15M in annual revenue OR fewer than 100 full-time employees
- 25%+ of employees located in Manitoba
- Investors: minimum $10,000 investment, maximum $500,000 per company
Quick Assessment
Funding Details
- Amount
- 45% tax credit to investors ($10K min, $500K max per company; businesses can raise up to $10M)
- Type
- Tax Credit
- Level
- Provincial
- Co-Funding
- Up to 45% of eligible costs
- Deadline
- Open (extended to December 31, 2028)
Program Scorecard
Competition, effort, and approval at a glance
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How to Win
Insider tips, common pitfalls, and what successful applicants look like
Insider TipAt 45%, this is one of the most generous investor tax credits in Canada. Register your company early and use the tax credit as a key selling point when pitching to Manitoba-based angel investors. The $10M cap per company is very high — most companies will never reach it. This credit makes Manitoba startups significantly more attractive to local investors.
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Success Profile
Manitoba CCPCs with fewer than 100 employees seeking angel or early-stage investment. Tech startups, manufacturing companies, and growing businesses that can leverage the 45% credit to attract local investors. The broad 'all industries' eligibility means any qualifying small business can register.
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Evaluation Criteria
Registration-based entitlement. Province reviews: CCPC status with Manitoba permanent establishment; active business with minimum $25,000 cash equity already invested; annual revenue <$15M or <100 FTE employees; ≥25% of employees in Manitoba; not a reporting issuer; not engaged in explicitly excluded activities. Review takes 4–8 weeks. Upon approval, company has 12-month window to close investments and issue tax credit receipts.
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Application Playbook
Step-by-step process, required documents, and expenses
Application Steps
Required Documents 5
Eligible Expenses 4
- Equity investment via share subscription in registered SBVCTC company
- Convertible notes in registered company
- SAFEs (Simple Agreements for Future Equity) — eligible effective April 2026
- Investments through eligible limited partnerships — eligible effective April 2026
Ineligible Expenses 5
- Investments below $5,000 per investor (reducing from $10,000 minimum effective April 2026)
- Investments above $500,000 per investor per company
- Investments in non-registered companies
- Debt investments without equity conversion feature
- Investments by specified shareholders (>35% ownership in preceding 24 months)
Intake Periods
Open year-round through December 31, 2028. No annual application windows or intake deadlines. Apply at any time during business planning or fundraising process.
Deadline Notes
Program extended to December 31, 2028. Open to applications year-round until that date.
Open Application Portal →Ineligible Organizations
- Non-CCPC corporations (public companies, foreign-controlled corporations)
- Companies without Manitoba permanent establishment
- Companies with revenue ≥$15M AND 100+ FTE employees
- Companies with <25% of employees in Manitoba
- Reporting Issuers under Manitoba Securities Act
- Companies providing regulated professional services, maintenance to non-arm's-length parties, management/administrative/financial services
- Real estate companies
- Farming operations (except climate-controlled commercial crop production)
- Franchise operations
- Restaurants, lounges, and bars (except brew pubs)
- Amusement or gaming operations
- Performing arts facilities or events
- Educational, healthcare, and social services organizations
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Funding Stack Strategy
Compatible programs, clawback risk, and combined funding potential
Compatible Programs
Clawback Risk
Medium RiskModerate — investor credit clawed back if investment disposed of before minimum hold period. Business losing qualifying CCPC status or Manitoba employee percentage during participation period may affect ongoing credit eligibility.
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How SBVCTC Compares
Side-by-side with similar programs
| Program | Amount | Difficulty | Payment | Deadline |
|---|---|---|---|---|
| Manitoba Small Business Venture Capit... | up to $10M | Easy | Tax Credit Offset | Open (extended to... |
| Interactive Digital Media Tax Credit | 25% of eligible BC | Moderate | Tax Credit Offset | Ongoing |
| PrairiesCan (Prairies Economic Develo... | Varies | Hard | Reimbursement | Ongoing |
| Canada-Manitoba Job Grant | Up to 75% of costs | Easy | Reimbursement | Ongoing |
| Innovation Growth Program | Up to $100,000 | Moderate | Reimbursement | Quarterly intakes... |
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