The New Brunswick Innovation Foundation released its 2012-2013 annual report on Monday, which details the innovation agency’s record investments in the year to March 31.
NBIF, which is a sponsor of Entrevestor, invested a record $1.95 million in 12 companies, comprising nine new investments and three follow-fundings. Other investors put an additional $7.1 million into these companies. The foundation said it now has a portfolio of 28 companies, the most since its inception in 2003.
CEO Calvin Milbury noted in the report that the agency also invested $1.9 million in 27 research projects. “Together, these investments will prime the pump for years to come,” he said.
The following is a list of its investments in the fiscal year to the end of March:
Breviro Caviar $500,000
Introhive $250,000
UserEvents $250,000
Enovex $200,000
Smart Skin $150,000
Zaptap $150,000
Xiplinx $100,000
Flixel Cinemagraph $100,000
Total Pave $100,000
Store-It Squirrel $50,000
Black Magic $50,000
Tabture $50,000
Enovex, Smart Skin and Zaptap were follow-on fundings. Total Pave won the NBIF Breakthru competition and therefore received a $100,000 investment; Store-It Squirrel and Black Magic were the runners up in the competition.
