FREDERICTON'S CULTURE OF INNOVATION
Real Impact from Very Real Startups
Last month, we shared with our readers why Fredericton is an attractive and ideal place for entrepreneurs looking to start, grow and locate their business, and what makes Fredericton a strong contender in attracting and retaining international talent. Apart from a compelling value proposition that includes cost-competitiveness, a growing population, access to innovation, and a lifestyle like none other, Fredericton is also a breeding ground for high-growth startup talent. In lieu of a recent article by Financial Post columnist, Diane Francis, claiming that the Canadian government is throwing taxpayer dollars at fake startups, we’d like to take this opportunity to shed some light on the impact accelerators/incubators have on the fate of our emerging startups, and the not-so-fake companies that are spurred from them.
There should be no debate that the microbrewery industry in New Brunswick adds significant value to the economy. As an industry that currently employs thousands, and has an annual (indirect and induced) impact of $8.3 million, the micro-brewery sector has the potential to multiply 17 times over in the next 10 years to an astonishing $144.5 million. Producers of craft beer, mead, wine and cider are quickly becoming a staple of every day society, and as such we need to welcome and help foster their growth. With a backbone of over 60 academic institutions and research centres, New Brunswick is uniquely positioned to house and help grow the sector and as a result, satisfy a growing demand. Paired with Fredericton’s cost-competitiveness, talent pool, and an ideal proximity to large consumer markets, many craft brewers are rushing to make our city their homestead.
Fredericton’s craft brewery industry has witnessed rapid expansion and is now home to 15 breweries and brewp...