New Brunswick announces more funding for innovation
New Brunswick’s innovators can look forward to more funding to fuel their ideas, with $63.6 million for the NB Innovation Foundation (NBIF) and the NB Health Research Foundation over 4 years.
Additionally, the NB Innovation Voucher Fund will receive $1 million for research & development activities.
These announcements were made by Premier Brian Gallant during NB’s Innovation Week. The aim is to continue to grow New Brunswick’s innovation momentum and reflects Atlantic Canada’s trend over the last 2 years to develop more startups and to grow research at institutions. NS invests $40 million for Innovacorp’s investment fund and $25 million for a new provincial venture capital fund. 2 years ago, NL created the Venture NL Fund and PEI is considering a fund.
To read how NBIF and the Health Research Foundation plan to invest the funds, please click here.