Priority : Yes

Type : Venture capital funds

Address : 137 Venture Run, Suite 300, Dartmouth, Nova Scotia, B2B 0J6, Canada

Introduction to Innovacorp

Innovacorp is Nova Scotia's early-stage venture capital organization, headquartered in Halifax, Canada. As a crown corporation, Innovacorp is dedicated to finding, funding, and fostering innovative startups that strive to change the world. Their mission is to fuel the success of Nova Scotia's technology-driven companies through strategic venture capital investments, world-class incubation facilities, and expert advisory services. By accelerating the growth of young knowledge-based businesses, Innovacorp aims to help entrepreneurs commercialize their technologies and bring innovative products and services to global markets. Their comprehensive support system includes funding programs, competitions, mentorship, and access to a broad network of industry partners and investors.

Preferred Industries and Company Stages

Innovacorp focuses on supporting companies in the following sectors:

Information and Communication Technology (ICT):

• Software Development: Startups creating innovative software solutions, including enterprise applications, SaaS platforms, and mobile apps.
• Cybersecurity: Companies developing technologies to protect data, systems, and networks from digital attacks.
• Artificial Intelligence and Machine Learning: Ventures leveraging AI and ML to solve complex problems across various industries.
• Digital Health: Innovations at the intersection of technology and healthcare to improve patient outcomes and healthcare delivery.

Life Sciences:

• Biotechnology: Startups engaged in the research and development of therapies, vaccines, and biological products.
• Medical Devices: Companies designing and commercializing equipment and devices for medical use.
• Pharmaceuticals: Ventures focused on the discovery and development of new drugs and treatments.
• Health IT: Technologies aimed at enhancing the efficiency of healthcare systems through data management and analytics.

Clean Technology (CleanTech):

• Renewable Energy: Companies working on wind, solar, tidal, and other sustainable energy solutions.
• Environmental Technologies: Innovations that address waste reduction, water treatment, and pollution control.
• Energy Efficiency: Startups offering products or services that improve energy consumption and reduce carbon footprints.
• Sustainable Agriculture: Technologies promoting eco-friendly farming practices and resource management.

Ocean Technology (OceanTech):

• Marine Biotechnology: Ventures exploring marine-based biological resources for applications in healthcare, cosmetics, and nutrition.
• Aquaculture and Fisheries Technology: Innovations enhancing the efficiency and sustainability of seafood production.
• Ocean Observation and Data Analytics: Companies providing solutions for ocean mapping, monitoring, and data interpretation.
• Marine Robotics and Vehicles: Development of autonomous or remote-controlled vehicles for underwater exploration and operations.

Aerospace and Defence:

• Space Technology: Startups involved in satellite technology, space exploration tools, and related services.
• Defence Systems: Companies providing advanced technologies for national security and defence applications.
• Unmanned Aerial Vehicles (Drones): Innovations in drone technology for commercial and defence purposes.

Company Stages Preferred by Innovacorp

Innovacorp primarily works with startups at the following stages:

Concept to Early Development:

• Idea Validation: Entrepreneurs with a groundbreaking concept seeking support to validate their ideas and understand market needs.
• Prototype Development: Companies in the process of developing a prototype or minimal viable product (MVP) to demonstrate feasibility.

Pre-Seed to Seed Stage:

• Market Entry Preparation: Startups gearing up to launch their product or service and requiring initial funding to enter the market.
• Early Customer Acquisition: Companies beginning to engage with potential customers for feedback and early sales.

Early Commercialization:

• Revenue Generation: Businesses that have started generating revenue and are looking to scale production and sales.
• Market Expansion: Startups aiming to expand their market reach domestically and internationally.

Dedicated and Coachable Founders:

• Commitment to Growth: Entrepreneurs who are deeply committed to the success of their venture and open to guidance.
• Willingness to Engage: Startups eager to participate in mentorship programs, workshops, and the Innovacorp community.

Innovation and Intellectual Property:

• Unique Value Proposition: Companies offering innovative solutions with a clear competitive advantage.
• Protectable IP: Startups with intellectual property that can be protected through patents or trademarks.

By aligning with these industries and stages, startups increase their chances of securing support from Innovacorp. Participants gain access to vital resources, including capital investment, state-of-the-art incubation facilities, expert mentorship, and a network of industry leaders and investors. Innovacorp's tailored support helps entrepreneurs overcome challenges, refine their business models, accelerate growth, and bring their innovative solutions to the global market, thereby strengthening Nova Scotia's economy and contributing to a vibrant, technology-driven future.