Innovacorp Leads Nova Scotia's Innovation Efforts

Innovacorp is the driving force behind Nova Scotia's innovation efforts, with a mission to create and sustain a thriving innovation ecosystem.

Innovacorp was founded in 1995, making it a pioneer in the province's innovation scene.

With a focus on entrepreneurship and innovation, Innovacorp provides funding, mentorship, and other resources to help startups and small businesses grow.

Innovacorp's efforts have led to the creation of over 1,000 jobs and the attraction of over $200 million in investment to the province.

Innovacorp has a rich history that spans many decades. It was established by a provincial statute, which is a law passed by the government.

This marks a significant change from its predecessor, the Research Foundation of Nova Scotia, which was established in 1946.

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Innovacorp was established by a provincial statute, marking a significant milestone in its history.

The Nova Scotia Research Foundation Corporation, established in 1946, laid the groundwork for Innovacorp's eventual formation.

Innovacorp superseded the Nova Scotia Research Foundation Corporation, building upon its predecessor's foundation.

Innovacorp's early years were shaped by its connection to the Nova Scotia Research Foundation Corporation, which was established nearly 70 years prior.

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Innovacorp's growth and development can be attributed to its strategic partnerships and investments in various sectors.

The company's focus on clean tech and life sciences has led to the creation of over 1,000 jobs in Nova Scotia.

Innovacorp's investments have also helped to attract over $100 million in private sector funding to the province.

The company's efforts have resulted in the development of several successful companies, including Ocean Nutrition Canada and BioVectra.

Innovacorp's support has enabled these companies to expand their operations and create new products and services.

Ocean Nutrition Canada, for example, has developed a line of nutritional supplements that are sold globally.

BioVectra has also expanded its operations to meet the growing demand for its contract manufacturing services.

Innovacorp's growth and development are a testament to the company's ability to identify and support innovative companies and entrepreneurs.

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Innovacorp has made significant investments in various companies, including SimplyCast, CarbonCure, and Meta Materials Inc.

In 2015, Innovacorp invested around C$3 million in Meta Materials Inc., a Dartmouth-based developer of high-performance functional materials and nanocomposites. This investment paid off in 2021 when Meta Materials was listed on the Nasdaq stock exchange, resulting in a $104-million return on investment for Innovacorp.

Innovacorp invested a total of $6.3 million in 17 companies in its 2019 fiscal year, marking a decline in investment totals from the previous year.

Innovacorp invested around C$3 million in Meta Materials Inc. in 2015.

Innovacorp's total investments in 17 companies in 2019 fiscal year amounted to $6.3 million.

The agency invested $7.9 million in 16 companies in the previous fiscal year, showing a decline in investment totals.

Innovacorp has made direct investments of about $5 million to $8 million annually in early-stage innovation companies.

The agency committed $15 million to the second fund of growth-stage investor Build Ventures and the same amount to the new early-stage fund Concrete Ventures.

Innovacorp invested $2.4 million in scaling companies that were new to the portfolio in 2019.

Each of the 10 "emerging" companies received investment of about $100,000 in the last fiscal year.

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The region's first 'unicorn' is a pretty big deal. It's a company called Meta Materials, which has reached a valuation of over $1 billion.

This company has come a long way, starting from nothing and now being valued on the biggest public market in the world.

Meta Materials was listed on the Nasdaq after completing a merger with a Texas company called Torchlight Energy Resources.

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Innovacorp has received significant government support, which has played a crucial role in its growth and success.

The Nova Scotia government has provided Innovacorp with funding to support its mission of commercializing technology and creating new businesses. This funding has enabled Innovacorp to invest in various initiatives and programs that help entrepreneurs and startups in the province.

Innovacorp has also received funding from the Atlantic Canada Opportunities Agency (ACOA) to support its business development and commercialization activities. This funding has helped Innovacorp to provide resources and support to entrepreneurs and startups in the region.

The government's support has also helped Innovacorp to establish a strong network of partners and stakeholders in the province. This network includes universities, research institutions, and other organizations that provide valuable resources and expertise to entrepreneurs and startups.

Innovacorp's government support has enabled it to provide a wide range of services to entrepreneurs and startups, including business planning, market research, and access to capital. These services have helped many businesses to succeed and create jobs in the province.

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