POLITICS

New Brunswick announces $5 million start-up fund to help new companies

10/23/2013 10:24 EDT | Updated 12/23/2013 05:12 EST
FREDERICTON - The New Brunswick government has announced a five-year, $5-million start-up fund intended to help entrepreneurs develop new products and services and make them commercially viable.

Eligible companies will be able to access up to $100,000 each, on a one-time basis, for initiatives including product development and testing, market research and intellectual property protection.

The fund is part of an $80-million allocation by the provincial government for innovation and research and development.

It will also be administered under the New Brunswick Innovation Foundation, an independent not-for-profit corporation that makes venture capital investments in start-up companies and helps established businesses.