The government of New Brunswick set up the Startup Investment Fund with an initial capital commitment of USD 5 million. The Fund would support growth companies in the province looking to start and develop an innovative product, service, technology or process. The activities that the fund would give financing to include company creation, market research, product development, product testing, general business development and intellectual property protection.

The Fund would provide a one-time investment of up to USD 100,000 to recipients. The New Brunswick Innovation Foundation would manage the Fund. Since it was established in 2004, the New Brunswick Innovation Foundation has made venture capital investments in over 30 companies.

New Brunswick Premier David Alward said investing in newly-formed companies in the province was an integral part of their plan to improve the economy and provide jobs. He added, "As part of our government's $80-million investment in innovation and research and development, we are creating another new tool to provide entrepreneurial New Brunswickers with an opportunity to obtain early-stage equity capital to transform their innovations and business concepts into commercially-viable ventures."