The Nova Scotia early-stage venture capital agency will name as many as four winners in the competition, each of which will be given the opportunity to move to Nova Scotia under Canada’s Startup Visa program.
Each of the winning companies will receive a $25,000 grant when the results are announced. They could win as much as $25,000 in follow-on funding, depending on the milestones they’ve achieved by the time they land in Nova Scotia.
“Innovacorp's Global Blue Innovation Challenge helps ocean technology startups immigrate to Nova Scotia, Canada, accelerate their commercialization path and become investment ready,” said Innovacorp in a statement.
Nova Scotia and the other Atlantic Provinces are now developing an oceantech hub, and the Global Blue Innovation Challenge is helping to attract more companies to the community. Innovacorp is one of the organizations approved by Immigration, Refugees and Citizenship Canada to recommend entrepreneurs for entry into Canada under the business incubation stream.
As well as cash and support with visa applications, the winners will receive incubation space in Metro Halifax, mentorship and access to market intelligence.
You can apply here. Applications close June 11 and the winners will be announced Sept. 21.