Nova Scotia venture capital Crown corporation Innovacorp has announced nine participants for the inaugural cohort of its revamped Accelerate program.
The program will replace both the old, longer program of the same name and the shorter Sprint accelerator. It will be completely virtual and focus on oceantech, medtech, agtech and cleantech. The program is meant for companies that have established a market opportunity.
The participating companies, all of which have sales of less than $1 million and equity investment of less than $250,000, will receive $25,000 in grants. They will also have access to coaching, monthly workshops and market research from Ontario-based MaRS Market Intelligence Services.
One of the companies is based in the United States and one in India, but both are in the process of relocating to Nova Scotia. They will not receive Accelerate funding until they arrive in the province.
The participating companies are:
Clean Valley CIC, Halifax
Clean Valley is commercializing algae-based filtration systems for the aquaculture and medical technology industries.
IntelliReefs, United States
IntelliReefs is building underwater structures that mimic coral reefs to increase ocean ecosystems’ resilience to climate stressors and improve fishery health.
Marimetrics Technologies, Dartmouth
Marimetrics is developing a tool to measure trace compounds in water, which can be used to give early warnings of disease in aquaculture pens, monitor the condition of ships and track pollution from maritime oil and gas projects.
OceanSync Data Solutions, Pictou, NS
OceanSync is designing a platform to use data gathered from ships to track offshore weather conditions in real time, for use by the shipping industry.
Quorum Inoculants, Cole Harbour, NS
Quorum is using microorganisms to enhance soil quality and prevent disease in plants, as a replacement for environmentally harmful chemical fertilizers.
myFlock, Sheffield Mills, NS
This platform digitizes cumbersome paper-based animal compliance programs while automating data collection and providing intelligence to poultry farmers.
AvisensX, Halifax
AvisensX is using sensors in shoes to monitor wearers’ wellness.
Axtion Independence, Wolfville, NS
Axtion is preparing to build a walker-like mobility assistance device that will help users avoid falling or recover from falls without injuring themselves.
NeoCare, India
NeoCare is designing non-invasive equipment for detecting hemoglobin, bilirubin and oxygen saturation – key health indicators – in newborns’ bloodstreams.
Disclosure: Innovacorp is a client of Entrevestor.
