HALIFAX, Sept. 29, 2011 /CNW/ - The search is on for the world's best
clean technology start-ups, and the goal is to bring them to Nova
The province, through Innovacorp, launched the Nova Scotia CleanTech
Open this week. The international competition is designed to find and
fund high-potential, early-stage clean technology companies. It will
also put a spotlight on Nova Scotia as an ideal location for these
companies to grow.
"Clean technology is one of the world's fastest growing industries.
Knowledge-based companies like those in the clean technology sectors
create good jobs and are vital to Nova Scotia's future prosperity,"
said Percy Paris, Minister of Economic and Rural Development and
Tourism. "This competition supports the innovation and competitiveness
priorities of jobsHere, our plan to grow the economy."
The winner receives $100,000 in cash, a $200,000 negotiable seed
investment, mentoring, and in-kind business building services,
including one-year free rent of turn-key space at the Innovacorp
Enterprise Centre in Halifax. At the time the prize is awarded, the
company is to be incorporated in Nova Scotia, with the intent to build
the business here.
"Nova Scotia has a lot to offer emerging clean technology ventures, from
clean energy resources to a supportive business and policy
environment," said Clifford Gross, president and CEO of Innovacorp.
"Now we're adding venture capital coupled with business support
services to help accelerate growth and market success for these
Entrepreneurs have until 5 p.m. on Thursday, Dec. 1, to submit their
entries. The judging panel will select a short list that will be
invited to move on to round two of the competition. The short list will
be announced on Dec. 15. The winner will be announced in April 2012.
Submissions can be made online at www.novascotiacleantech.com.
Innovacorp, Nova Scotia's technology commercialization agency, manages a
venture capital fund that invests in early stage, high-growth
companies. Target industries include clean technology, information
technology, and life sciences. Seed and venture capital investment is a
critical part of Innovacorp's business model, which has earned
international recognition as a best practice approach to accelerating
the growth of technology companies.
Image with caption: "President and founder of Halifax-based CarbonCure Technologies Inc., Robert Niven, explains the technology used to make their concrete blocks to Nova Scotia Premier Darrell Dexter (CNW Group/InNovaCorp)". Image available at: http://photos.newswire.ca/images/download/20110929_C7678_PHOTO_EN_4018.jpg
For further information:
T 902.424.8670 ext. 1160