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The New Brunswick Innovation Foundation (NBIF) is a government-backed venture capital organization founded in 2002, located in New Brunswick, Canada. The foundation is dedicated to promoting innovation and entrepreneurship within the province. Operating with a fund size of $100 million, NBIF focuses on pre-seed and seed stage investments, aiming to support local entrepreneurs through direct equity investments and specialized funds that enhance sustainability and competitiveness.
NBIF has evolved to become a key player in the New Brunswick startup ecosystem, strategically investing in technology companies that demonstrate high growth potential. The foundation's commitment to fostering innovation is evident in its support for initiatives like the Climate Impact Fund, which targets technologies addressing climate change. Over the years, NBIF has established itself as a vital resource for startups looking to scale and make a global impact.
NBIF primarily invests in early-stage startups, particularly those expanding into new markets within the technology sector. The organization targets high-potential, globally oriented innovative companies, often serving as the first investor. Investments typically range from $50,000 to $1 million, reflecting the foundation's commitment to supporting entrepreneurs at critical stages of their business development.
In addition to its general investment strategy, NBIF has established specialized funds such as the Climate Impact Fund, which supports technologies that address climate change, and the Innovation Voucher Fund, aimed at enhancing profitability and competitiveness among small and medium-sized enterprises (SMEs). This dual focus on technology and sustainability positions NBIF as a unique player in the venture capital landscape.
NBIF's portfolio includes several notable companies that exemplify its investment strategy:
Other companies in the portfolio include Gemba, Inversa Systems, and Beauceron Security, showcasing a diverse range of sectors from AI to climate technology. This variety reflects NBIF's commitment to investing in innovative solutions that have the potential to scale and impact global markets.
Jeff White - CEO & President: Jeff holds an FCPA, FCA, ICD.D designation and has extensive experience in leading venture capital initiatives.
Daniel Armali - Vice President, Investments: Daniel specializes in identifying high-potential startups and has a strong background in investment analysis.
Heather Libbey - Vice President, Strategy & Operations: Heather focuses on operational excellence and strategic planning within the foundation.
Hilary Lenihan - Director, Strategic Engagement: Hilary is responsible for building relationships with key stakeholders in the innovation ecosystem.
Jaime Christian - Investment Principal: Jaime plays a critical role in evaluating investment opportunities and supporting portfolio companies.
Nicole Vair - Director, Communications: Nicole manages the foundation's communications strategy and public relations efforts.
Leslie Watchorn Magee - Board Chair: Leslie provides governance and oversight for the foundation's strategic direction.
Tony Van Bommel - Treasurer: Tony oversees the financial management of the foundation.
Dr. David MaGee - Vice President Research, University of New Brunswick: Dr. MaGee contributes academic insights and research expertise to the board.
Traci Simmons - CEO, Opportunities New Brunswick: Traci brings a wealth of experience in economic development and entrepreneurship.
To pitch to NBIF, founders should submit their proposals via email at proposals@nbif.ca. It is important to include a comprehensive business plan, financial projections, and details about the team and market opportunity. NBIF values clarity and thoroughness in the pitch deck.
Response times may vary, but founders can expect to hear back within a few weeks. Warm introductions are beneficial but not mandatory.
NBIF operates specialized funds such as the Climate Impact Fund and the Innovation Voucher Fund to support startups.
In recent months, NBIF has been active in publishing blog posts that cover advancements in AI, training technology for sports, and innovations in electric vehicle batteries. These posts reflect the foundation's commitment to engaging with the innovation community and sharing insights on emerging technologies.
Additionally, NBIF continues to support its portfolio companies through various initiatives aimed at enhancing their growth and competitiveness in the market.
What are NBIF's investment criteria?
NBIF invests in early-stage technology startups, focusing on companies with high growth potential and innovative solutions. The foundation typically serves as the first investor, providing equity investments ranging from $50,000 to $1 million.
How can startups apply or pitch to NBIF?
Startups interested in securing funding from NBIF can submit proposals via email at proposals@nbif.ca. It is advisable to include a detailed business plan and financial projections in the pitch.
What makes NBIF different from other venture capital firms?
NBIF is a government-backed innovation foundation, which allows it to focus on supporting local entrepreneurs in New Brunswick. Its commitment to sustainability and specialized funds, such as the Climate Impact Fund, distinguishes it from traditional venture capital firms.
What is the geographic scope of NBIF's investments?
NBIF primarily invests in startups based in New Brunswick, Canada, but it also considers companies that are expanding into new markets within North America.
What kind of post-investment involvement does NBIF have?
NBIF provides strategic support to its portfolio companies, leveraging its network and expertise in technology commercialization to help startups enhance their competitiveness and profitability.
What is the fund size and check size range for NBIF?
NBIF operates with a fund size of $100 million, offering investments that typically range from $50,000 to $1 million.
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