The next step forward: Investing for impact

At NBIF, we’ve always believed in the power of innovation to transform our province. But increasingly, we’re also seeing the power of impact – of investments that not only generate financial returns, but also deliver measurable benefits for New Brunswickers.

That’s why we’re embracing a broader definition of success. Yes, we still invest in high-growth startups that can scale globally. But now, we’re also opening the door wider to ventures that tackle critical community challenges, from health-care access to climate resilience and energy efficiency.

An important focus for us going forward is impact investments – backing promising New Brunswick ventures that can help solve these various challenges.

The reality is that many of our systems face constraints that can’t be solved by traditional approaches alone.

Enter innovation, and the tremendous potential for new and emerging technologies that can, for instance, improve health outcomes, reduce carbon emissions, lower energy costs as well as ensure more New Brunswickers have access to the services and sustainable solutions they need.

A dual win

While impact investing embraces altruism as a core value, it’s fundamentally about transformation –  for communities, for our systems, and for our province.

We see a dual win: solving real problems and creating scalable solutions that can be exported globally.

Imagine a New Brunswick startup develops a technology that reduces missed appointments in clinics. That improves lab and equipment utilization, helps patients stay on track with treatments, and saves money across the system. It also creates a compelling business case for adoption across Canada and beyond.

Or consider a New Brunswick innovator creating smart grid technology that optimizes energy usage in commercial buildings, cutting carbon emissions while saving businesses thousands in operating costs. These solutions don’t just address local needs – they create exportable products with global market potential.

Ripple effects

Now imagine these same solutions being refined and applied across sectors. An AI-enabled scheduling tool that works in health care could be tailored to support mental health services, social care organizations or even education. Similarly, energy management systems developed for industrial applications could revolutionize how we heat and cool residential buildings. These kinds of ripple effects –  when innovation developed for one sector fuels broader societal improvements –  are a hallmark of high-impact investing.

At NBIF, we want to accelerate these kinds of solutions. We’re building a portfolio that includes investments focused on outcomes –  whether that’s enhancing patient access, reducing carbon footprints, creating more affordable housing solutions, or cutting energy costs through smarter tools. Our approach aligns with the priorities of our investor –  the Government of New Brunswick –  and with the needs of our communities.

We’ve incorporated “impact” into our core pillars alongside “innovation” and “investment,” and it’s now a formal part of our strategy. We’re not changing who we are –  we’re expanding what we’re open to. And we’re sending a clear message: if you’re an entrepreneur with a solution that can make essential services more accessible, reduce environmental impact, or create more resilient communities, we want to hear from you.

Shifting perceptions

We also hope to shift perceptions –  because “impact” doesn’t mean sacrificing growth. It’s about aligning entrepreneurial ingenuity with public value. It’s about working on the problems that matter most to people, and creating solutions that generate strong returns while improving lives.

Take climate tech as an example. Once considered niche, it’s now one of the fastest-growing investment sectors globally. Companies developing technologies for carbon capture, renewable energy, or climate-resilient infrastructure are attracting significant capital because they’re tackling urgent challenges while opening massive new markets.

We know there’s no silver bullet. But with the right ideas, backed by the right capital, we believe New Brunswick innovators can lead in shaping a better future –  here at home and beyond.

It’s time to think bigger about what innovation can do. Impact investing is not a departure from our mission. It’s the next step forward.

Let’s solve problems that matter –  and build great companies doing it.

 

Jeff White, FCPA, CA, ICD.D, is President and CEO of the New Brunswick Innovation Foundation (NBIF).