Opportunities New Brunswick has established two new funds to support entrepreneurs launching startups in the province.
The funds will be used along with additional funding from several approved partners including East Valley Ventures.
COO Jeff White says his company has been helping to stimulate startups in the I-T sector for more than 10 years.
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When supporting a startup, White says he typically looks for early first-time entrepreneurs and then tries to determine what that team may be capable of becoming.
White adds his company has already worked with startups in the cybersecurity field and the core business has worked with a startup delivering TV services through telephone lines.
In one of the funds, Opportunities NB will provide up to a half-million dollars in seed funding to startups if entrepreneurs work with approved partners.
The other fund provides up to one million dollars to startups about to generate revenue.