GrowthWorks Funds 3 NB Firms

Fresh off a new investment in Newfoundland, GrowthWorks Atlantic Venture Fund has invested $1.75 million in three companies nestled in the bustling tech community of Saint John.

GrowthWorks announced Tuesday it has invested $1.1 million in Enovex Technology Ltd., $400,000 in Spinzo Corp. and $250,000 in MedRunner Health Solutions Inc. The funding announcement comes hot on the heels of the labour-sponsored venture fund leading a $750,000 funding round by Adfinitum, the St. John’s-based advertising data bank.

“The fund is delighted to announce it has invested nearly two million dollars in

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Viewpoint.ca Eyes Ontario Market

Viewpoint.ca , a Halifax-based online property data and brokerage site, is gearing up to enter the Ontario market this year if a regulatory case forces greater competition in Toronto. And the company may have to raise capital to do so.

Founder and CEO Bill McMullin said in an interview last week that the company is interested in expanding into other provinces, but has to wait until the bodies overseeing real estate data willingly share that data with the site. So far, the company has only had success doing so in Nova Scotia, but it believes Ontario will open up later this year. And the

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New Brunswickers Win Tech Awards

New Brunswick owned the technology podium last year.

The Vancouver-based tech site techvibes announced its startup awards on Friday and the Radian6-Q1 Labs-Gerry Pond grouping raked in the silverware.

Marcel LeBrun, Chris Newton, and Chris Ramsey of Radian6 captured the award for Canadian Entrepreneur of 2011, based obviously on the sale of their company to salesforce.com for about $326 million. Radian6 also won the Most Significant Acquisition Award.

Gerry Pond, an original investor in Radian6 and Q1 Labs (which sold out to IBM) was named the Canadian Angel of 2011.

Another

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NBIF Launches R3 Challenge

Fresh from its astonishing success in 2011, the New Brunswick Innovation Foundation has kicked off 2012 by announcing a new competition – the R3 Innovation Challenge.

The new competition is aimed at established companies that have a commercially viable idea for a new product or service, but need to perform some R&D to validate or develop the scheme. It will award two New Brunswick-based companies $50,000 worth of research each. The money will be paid to a post-secondary institution or research organization, which will assign a researcher to collaborate on the idea.

“Innovation is

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Honibe Raising $1M for Expansion

 Trite as it is to say it, 2011 was one sweet year for the Honibe brand.

I’m sure I’m not the first hack to use that corny line about the line of solid honey products produced by Island Abbey Foods Ltd. of Charlottetown. And given the growth of its business, I doubt I’ll be the last.

The company, which produces the world’s only products made of solidified honey, tripled its network of retail outlets in 2011, began work on its new plant in Charlottetown’s BioCommons, and expanded its product lines.

“Last year, we launched our first natural health product,” Island Abbey President John

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Unique’s US Rollout Gathers Steam

 Tanya Shaw had to look it up when I asked how many scanning outlets Unique Solutions has now opened in malls in the U.S.

“Sorry,” she said over the phone Friday as she waited for the window to open. “The numbers are changing daily.”

Seconds later she delivered the update: the company has installed 22 mybestfit scanning booths in the U.S., of which 10 are fully operational and the remainder are installed and training staff.

“By the end of February we’re in 45 locations, and by the end of June we’ll be in 160,” said Shaw, the founder and CEO of the Dartmouth-based company. “That’s

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Adfinitum Raises At Least $750,000

Adfinitum, the St. John’s-based advertising data bank, closed a round of funding initially worth $750,000 late last month, and will use the money to expand its sales and development teams.

CEO Ed Clarke said in an interview today that the company, which has a database of 12.5 million advertisements from more than 50 countries, could increase  the size of the deal with a second close. The investors so far in this round include first-time investor GrowthWorks Atlantic, London-based angel Permjot Valia and several existing investors, including Clarke himself.

Clarke added that he will fly

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FAN Sinks $250,000-Plus into Zengo

In the group’s first investment ever in Prince Edward Island, members of the First Angel Network have committed to sink more than $250,000 into Zengo Inc., which has developed a seal to plug leaks in tanks carrying hazardous or contaminating materials.

With this financing, the pre-eminent group of private individual investors in the region will have invested in each of the Atlantic Canadian provinces.

Founded by former police officer Glenn Cox, Stratford, P.E.I.-based Zengo has designed and manufactured the RUPTUREseal, a patent-pending device that fits over a tear in an industrial tank

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Martell to Launch Clarity.fm in NB

Serial entrepreneur Dan Martell next week will announce a new startup that will operate out of his hometown of Moncton.

Martell will launch Clarity.fm at a ceremony in Moncton late next week and reveal the details of the new company at that time.

We’ve been sworn to secrecy but can say that Clarity.fm will address the problem of linking advisers with entrepreneurs who need their advice. People in the startup business often have trouble finding experts who can provide the specific advice they need, and this new venture will help to address that pain point.

Martell has some

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Happy Holidays to our Readers

As youmay have noticed, we're now winding down for the holiday season and are officially in Yuletide loaf mode. We've posted our final joint column with Progress Magazine for 2011, and are now putting our feet up. It's been a great three months since we launched Entrevestor.com, and we're really looking forward to enhancing our offerings in 2012.

We will have one more story for you this year -- a tantalizing nugget on Dec. 28. And that will be it unti lwe resume the service on Jan. 4.

We really appreciate -- a total understatement -- the way the innovation community has responded to

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