The C$800,000 Spark Innovation Challenge has been launched in Nova Scotia to support new technology companies with the special interest for those in clean and ocean technology sectors.
The Spark Innovation Challenge received the support from both federal and province governments which contributed C$400,000 ($320,000) each to support the early stage technology companies across Nova Scotia.
Namely, the businesses which had zero sales revenue since inception will have the chance to compete for up to C$50,000 in funding, as well as mentorship from seasoned business professionals to put their ideas into action.
The competition spans four regions in Nova Scotia, and each of them will be awarded a total of C$200,000, according to Innovacorp which is managing the competition with the support from the Atlantic Canada Opportunities Agency (ACOA).
The competition is open for submissions from any technology innovation sector, but Innovacorp noted it is especially interested in start-ups from clean, and ocean technology sectors, along with those from information technology, and life sciences.
Kirsty Duncan, Canada’s Minister of Science, said: “Research, talent, imagination and determination are some of the essential ingredients required to spark innovation and economic growth. This investment reflects the Government of Canada’s commitment to supporting promising entrepreneurs who are eager to bring their vision to market. I encourage aspiring business leaders to apply for the Spark Innovation Challenge as it ignites across Nova Scotia.”
Innovacorp is accepting applications for the competition until September 21, 2017, with four Spark competitions to be held this fall, covering every region of the Nova Scotia province.