Breakthru 2011 Finalists Announced

FREDERICTON (NB) –The New Brunswick Innovation Foundation (NBIF) today announced the finalists of its 2011 Breakthru Business Plan Competition. The largest competition of its kind in Canada, over $285,000 in venture capital investments and professional services will be awarded to three of its six finalists. They are:

AirMe – a smart tag that delivers product information to a smartphone when it is waved across it.

CyberPsyc – virtual reality software applications for people with debilitating phobias.

Enovex – a hybrid membrane-adsorbent system that removes 90 percent of carbon dioxide from coal plant emissions.

Gingle – a GPS-based social network that lets people broadcast or tune into live events that people stream from their smartphones all over the world.

SceneSharp – a surveillance camera lens and chip technology that detects and identifies the 3D location of a moving object, its characteristics, and an image quality three times sharper than what’s currently available.

SustainaChem – a non-toxic pesticide made from Boron, a naturally occurring earth element that is safe for human health and the environment at large.

“The quality of each finalist’s innovation and business plan is possibly the best we’ve seen since starting Breakthru in 2007,” says NBIF President and CEO Calvin Milbury, “they are exactly the kind of companies we look to invest in year round. Many aspiring entrepreneurs simply don’t have the time or resources to get their business off the ground and running. Breakthru makes that possible.”

On March 16th, the six finalists will present their businesses before the Breakthru Selection Committee of seasoned investors and established entrepreneurs. Recipients of the three major prizes will be announced on that same day at the Breakthru Awards Dinner & Gala at the Fredericton Convention Centre, hosted by NBIF and Cox & Palmer.

This year, members of the general public are invited to decide the winner of the Viewers' Choice Award.  From March 2nd through to March 9th, CBC Television will profile each of the finalists on CBC News New Brunswick. All videos will be posted to the Breakthru page of the CBC website on March 10th for the general public to view and vote. Voting ends on March 16th.

Tickets to attend Breakthru 2011 can be purchased at nbif.ca.

The New Brunswick Innovation Foundation is an independent corporation that makes investments in new, growth-oriented companies and applied research. With a mandate to expand the province’s innovation capacity, it specializes in turning research and development into enterprise.

For more information, or to interview any of the competition finalists, contact:

Chet Wesley

Director of Communication and Marketing

New Brunswick Innovation Foundation

researchservices@nbif.ca

1-877-554-6668