Support provided for startups

The province and the Atlantic Canada Opportunities Agency are working together to provide greater support for Nova Scotia startups in the ocean and clean technology sectors.

Six business acceleration programs will be delivered this fall, including a new competition to find innovative ways to address problems in the ocean sectors.

Innovacorp will manage the programs, which will provide funding and business guidance.

“We’re investing in these programs to build on the tremendous ocean technology and clean technology development happening across Nova Scotia,” said Geoff MacLellan, minister of business, in a news release. “Our investments will help innovators and startups move their projects forward, helping us create opportunities for young Nova Scotians.”

The combined funding of $920,000 from the two governments will support startups through six initiatives. They will include Blue Solutions, a competition to find innovative solutions to problems in the ocean sector; three programs to help ocean technology companies develop their products and business models and demonstrate their prototypes in a reallife setting; and two programs to help clean technology companies address technical and business milestones and move closer to investment readiness.

Ottawa is providing a $500,000 grant under its Business Development Program. The province, through Innovacorp, is providing the remaining $420,000.

Calls for submissions for the programs will be made throughout September.

Details will be available at www.innovacorp.ca.