miramichi technology investment fund

On May 28th, 2011, Frank McKenna, Deputy Chair of the TD Bank Group and former Premier of the Province of New Brunswick announced a funding contribution of $1 Million for the Miramichi region. The fund will make equity investments into technology companies in each of the next 5 years with an expectation that the fund will, in time, be self-sustaining and allow for further investments in the region. The fund has been established to assist Miramichi based technology companies grow and develop their businesses.

Mr. McKenna’s contribution has been made to the University of New Brunswick and is managed by the Wallace McCain Institute. The Investment Fund Manager is Marie Jo Thibault who brings a passion for entrepreneurial efforts and a strong financial background to the fund. Working closely with the City of Miramichi, the Fund will evaluate applications from various technology companies and provide direction and mentoring to the start-up organizations.

Organizations interested in applying must first meet some basic criteria:

  • Companies must reside within the boundaries served by The Greater Miramichi Regional Service Commission.
  • Companies must have an exportable technology product or service ready for market within 1 year.
  • Companies must agree to an equity investment in their business.
  • Companies must agree to work with an investment fund manager to ensure they are equity investment ready.
  • Owners must be willing to participate in the Wallace McCain Institutes Entrepreneurial Leaders Program (ELP) or equivalent.

If you are thinking of starting, growing and expanding a technology based business and you are located in the Miramichi area, we would love to hear your story. The fund is interested in talking to anyone who has an idea no matter what stage of development that may be in. Your idea might be nothing more than an concept or you might have already proven your technology, no matter, we’d like to hear from you!

If you have questions about the fund please contact Dan Doiron at ddoiron1@unb.ca