In the world of economic development, we often celebrate a single hero: the unicorn.
High-growth, venture-backed, headline-grabbing companies valued at many millions of dollars have become the dominant symbol of innovation and success.
But unicorns are only one part of a healthy economic ecosystem.
If New Brunswick and Atlantic Canada wants resilient, inclusive, long-term prosperity, we need to recognize and actively support three distinct types of companies: Unicorns, Zebras, and Workhorses.
🦄 Unicorns: The Accelerators
Unicorns are built for speed, scale and sale.
They are typically venture-funded, growth-at-all-costs companies aiming for global markets, rapid expansion, and often an exit through acquisition or IPO. When they succeed, they create jobs quickly, attract capital, and put regions on the global innovation map.
Value to New Brunswick:
- Global visibility
- High-growth employment
- Attraction of external capital and talent
Reality check: Unicorns are rare by definition. Designing an entire economic strategy around them is risky—and often after the sale, they leave or substantially downsize.
🦓 Zebras: The Sustainable Builders
Zebras are the quiet counterbalance to unicorns.
They are often bootstrapped or lightly funded, focused on profitability, purpose, and durability. Zebras grow steadily, serve real customer needs, and reinvest locally. They value independence and long-term impact over explosive growth.
Value to New Brunswick:
- Stable, high-quality jobs
- Locally anchored ownership
- Mission-driven innovation
- Long-term tax base and community investment
Zebras are particularly well-suited to New Brunswick’s culture of practicality, collaboration, and community. They serve the world, and the world seeks them out with incredible loyalty.
🐴 Workhorses: The Backbone
Workhorses don’t chase headlines—they carry the economy.
These are small, medium and large-sized businesses, professional services firms, manufacturers, tech-enabled operators, and family-owned companies. They may or may not scale globally, but they employ many collectively, train talent, and keep communities alive.
Value to New Brunswick:
- The majority of employment
- Regional economic stability
- Talent development and retention
- Succession and intergenerational wealth
Without workhorses, there is no economy to scale.
The Problem with “One-Size-Fits-All” Support
Too often, our programs, funding models, and success metrics are designed almost exclusively for unicorns or to attract and retain large come from away workhorses.
- Venture capital readiness
- Rapid scaling requirements
- Growth-before-profit assumptions
- Tax Incentives with Big Job expectations that do not materialize or are not sustained.
This unintentionally leaves zebras and sometimes smaller domestic workhorses underserved, even though they are far more common—and often more aligned with New Brunswick’s realities.
What a Balanced Economic Strategy Looks Like
Supporting all three means designing differentiated pathways, not forcing every company into the same mold or having the same expectation of outcome.
- Unicorns need access to risk capital, global networks, and aggressive scaling support.
- Zebras need patient capital, local lead customers, leadership development, and support for profitability and impact.
- Workhorses need modernization support, succession planning, digital adoption, and workforce stability.
Success should be measured not only in valuations and exits, but in:
- Longevity
- Community impact
- Quality of jobs
- Local ownership and reinvestment
Final Thought
New Brunswick doesn’t need to choose between unicorns, zebras, or workhorses.
We need an ecosystem where unicorns can emerge, zebras can thrive, and workhorses are respected and strengthened.
A resilient economy isn’t built by chasing a single creature—it’s built by supporting the full herd.