Nova Scotia venture capital Crown corporation Innovacorp has announced 14 participants for the second cohort of its revamped, virtual Accelerate program.
The participating companies, all of which have sales of less than $1 million and equity investment of less than $250,000, will each receive $25,000 in grants. They will also have access to coaching, monthly workshops and market research from Ontario-based MaRS Market Intelligence Services. And three companies will win up to $75,000, paid out over time.
Ten of the 14 companies are based in Halifax, and one is headquartered in Toronto, but is in the process of moving to Nova Scotia.
Several of the cohort companies have appeared in other accelerators and startup competitions. In September, Formula Consulting won $3,000 in Dalhousie accelerator Ready2Launch’s climactic pitch competition. And KorrAI won $25,000 in the Volta Cohort pitching event last spring and $50,000 in Innovacorp’s Accelerate program, and CEO Rahul Anand told Entrevestor in March that he was in the process of raising a $500,000 funding round.
Here’s a look at the participating companies:
ZeroIN Foods, Halifax
ZeroIN is developing a next gen sugar substitute for small and medium-sized food and beverage makers.
Material Futures, Toronto
Material Futures is developing natural colour products for textiles and plastics to reduce industrial water pollution.
Zen Electric Bikes, Halifax
Zen is building electric bikes to replace cars in urban environments.
Atlantic Institute for Resilience, Halifax
Tim Trussel and Jackie Kinley
The Atlantic Institute for Resilience will sell enterprise software to provide mental health support for employees.
Axtion Independence, Wolfville
Tracey McGillivray, Liam Maaskant and Suling Duong
Axtion is building a high-tech walker to prevent users from falling and help them recover when they do.
MOC Biotechnology, Halifax
Sayedali Mousavi and Arash Helmi
Magic Organ Cloner has developed technology for 3D printing medical implants and other items compatible with human biology.
Virtual Hallway Consultants, Halifax
Jessica Morehouse and Justin Hartlen
Virtual Hallway is building software for primary care doctors to more efficiently communicate with specialist physicians via scheduled phone consultations.
Galaxia Mission Systems, Halifax
Galaxia is building an artificial intelligence system to help very small satellites detect and identify vessels on the ocean surface.
OceanSync Data Solutions, Pictou
Jarrett Stuart, Sebastian Ambtman, Andre Bezanson and Stefan Doorn
OceanSync is working on a system to use sensors on ships to capture real-time offshore weather data.
Rising Tide BioAcoustics, Dartmouth
Rising Tide is building acoustic systems for fish deterrence, guidance and attraction, marine mammal deterrence, and control or eradication of invasive species.
Formula Consulting, Halifax
Formula Consulting makes software for the construction industry to design and schedule formwork — the process of installing temporary moulds for pouring concrete.
KorrAI is developing an AI platform that can be used by mining and environmental services companies to study patches of land, using satellite images and other data.
Pocket Finance, Halifax
Pocket Finance is a personal financial management platform meant to help financial advisors and their customers streamline data collection and make better decisions.
Ubiquity Health, Sydney
Ubiquity Health is developing software for data collection and verification, coordination and collaboration for claims management.