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VENTURE CAPITAL FUND (“VCF”)The VCF is an early stage venture capital investment fund designed to assist companies growand prosper by providing access to venture capital, business expertise, support and networkingopportunities. The objective of the VCF is to support promising innovative New Brunswickcompanies that are in the post-seed round of funding and have sound commercial products orservices and need capital to grow. Support is typically provided to companies in the form ofdirect equity investments through the purchase of common stock, or in some cases in the formof indirect equity investments through the use of convertible debt. VCF investments may rangefrom $50,000 to $1,000,000 per investment round; however, investments in pre-revenuecompanies are generally capped at $250,000. The Foundation may reinvest in subsequentrounds of funding.SPECIAL REGIONAL FUNDINGThe Northern Economic Development and Innovation Fund (“NEDIF”) has been created tostimulate economic development in northern New Brunswick. Visit the Regional DevelopmentCorporation at http://www2.gnb.ca/content/gnb/en/departments/regional_development.html forprogram details.EXPORT DEVELOPMENT PROGRAMThis program is intended to introduce New Brunswick companies to exporting, and to assist inthe development of new export markets outside of Atlantic Canada. To be eligible, companiesmust process, manufacture or produce an exportable product, service, technology or intellectualproperty of a business-to-business nature. A maximum contribution of $5,000 per project isprovided for, with a maximum assistance allowed per company of $20,000 per year.WORKFORCE EXPANSION PROGRAMThis program provides financial assistance to eligible employers in order to stimulate thecreation of long-term employment opportunities for unemployed individuals. The program alsoaims at encouraging the hiring of the province's post-secondary graduates. Funding is on thebasis of a wage subsidy. The percentage of wage reimbursement varies from 50% to 70% ofthe hourly wage to a maximum reimbursement of $8 per hour.ONE-JOB PLEDGEA wage incentive is available to an employer based on existing eligibility criteria. Thepercentage of wage reimbursement for a recent post-secondary graduate is 70% of the wage upto $10 per hour, for a maximum of 40 hours per week. The duration of a subsidy for a recentpost-secondary graduate is 52 weeks. The employee must be paid at least $4 per hour aboveBusiness Incentives 164