NBIF 2018 Annual Report: A Model for Sustained Success
As the air outside our office windows begins to chill and 2019 rapidly approaches, the NBIF is pleased to announce the release of our 2018 Annual Report. It’s been an exciting year here – we’ve seen some of our portfolio companies take major strides, been involved in many fascinating research projects, and added several brilliant new people to the team. As we look back at everything that happened this last year, it’s becoming clear that we have so much to look forward to in the new year.
2018 was a year of fresh beginnings at the NBIF, as we welcomed a new CEO, Jeff White, and a new director of research, Dr. Laura Richard, within a few months of one another. With these additions, the NBIF is evolving into an organization with an even greater capacity to deliver the resources, ideas and expertise that entrepreneurs and researchers in New Brunswick need access to. The report also highlights a number of board appointments and recent hires made within the NBIF as we continue to build a stronger, more knowledgeable collection of talented people here.
Of course, the true measure of a great team is what they’ve been able to accomplish together, and the NBIF has been active on all fronts this year. With over $100 million invested to date, plus $457 million leveraged from other sources, the NBIF through its lifetime has always been a highly active source of company creation, applied research funding and professor recruitment in New Brunswick.
That activity level isn’t slowing down one iota either – in fact, CVCA recognized the NBIF as one of the top ten most active VC firms in Canada in its 2018 Venture Capital and Private Equity Canadian Market Overview. This year, the NBIF provided $6.2 million in venture capital investment and $6.4 million in research project and talent recruitment investment, and participated in 13 distinct investment rounds. We also held our biennial R3 research recognition awards in April, with a new three-day format centered around the theme ‘Innovations in Aging”, and laid the groundwork for our signature Breakthru entrepreneurship competition, with sessions and bootcamps taking place from earlier this fall all the way through next spring.
If you have a few spare minutes in your day, read the full report on our website. It’s full of tremendous stories about everything from graduate students making a difference in sub-Saharan Africa, to chemists and microbiologists studying distillation processes in Edmundston, to growing companies finding regional and international success with artificial intelligence, machine learning and dynamic employee management software.
At the NBIF, we’re finding innovators all over this province, and we can’t wait to roll over the momentum from this year into 2019. With recognition, support and passion, an idea can change the world – let’s find the next great one here in New Brunswick.