The federal government has announced $2.89 million of funding for innovation-related projects in Halifax and Cape Breton as part of its COVID-19 recovery package.
The money comes from the Atlantic Canada Opportunities Agency, via the federal government’s Jobs and Growth Fund and Regional Economic Growth through Innovation program, as well as from NRC-IRAP. The Jobs and Growth Fund gives interest-free loans to businesses with the stated aim of increasing employment in the wake of the pandemic.
Here’s a look at the projects receiving funding:
Sydney
$999,900 grant from REGI
Navigate, the Cape Breton startup incubator, bagged two years worth of funding to continue its operations.
Sydney
$327,000 loan from the Jobs and Growth Fund, $393,000 grant from NRC-IRAP
Talem Health will use the money to commercialize its analytics software for the automotive insurance industry.
Sydney
$100,000 loan from the Jobs and Growth Fund
Copol will use the money to update its manufacturing equipment, which it uses to make flexible plastic films for the packaging industry.
Sydney
$50,000 grant from the Jobs and Growth Fund
The newly founded Cape Breton Capital Group is a venture capital firm backed by local angel investors aiming to invest in companies that will create jobs in the region.
Halifax
$350,000 loan from the Jobs and Growth Fund
Novagevity's loan is for marketing and to expand sales channels for its plant-based meal-replacement beverage, Sperri.
Halifax
$250,000 loan from the Jobs and Growth Fund
Outcast will put its loan towards a U.S. expansion push for its “up-cycled” food products — sports and nutrition drinks made from produce that supermarkets deemed aesthetically displeasing.
Halifax
$130,000 loan from the Jobs and Growth Fund
BlueLight is using its funding to hire more staff as it continues to develop its suite of software products for dentists.
Halifax
$100,000 loan from the Jobs and Growth Fund
Emagix is developing software for ophthalmologists, which it dubs RetiCad Ocular Analysis. The money will go towards customer discovery and early testing.
Halifax
$100,000 loan from the Jobs and Growth Fund
Dormie’s loan will go towards buying automation equipment for its golf gear manufacturing facility.
Halifax
$50,000 grant from the Jobs and Growth Fund
Kove, which makes probiotic drinks, is receiving a grant for a sales and marketing push, including a potential U.S. expansion.
Canadian Coalition of Women in Engineering, Science, Trades and Technology
Halifax
$40,000 grant from the Jobs and Growth Fund
The Coalition is spending $40,000 to host its 19th biennial conference, which gathers about 300 international experts from its constituent fields.
Disclosure: ACOA is a client of Entrevestor.
