by Bridget Lair
Innovacorp's best-in-class business model has helped the incubator build globally competitive innovation and capital markets, earning Innovacorp NBIA's 2010 Randall M. Whaley Incubator of the Year and Dinah Adkins Incubator of the Year award in the technology category.
Even though Halifax, Nova Scotia, Canada, is a dynamic coastal city, it faces many economic development challenges. The excellent quality of life and low cost of real estate are countered by a low level of infrastructure, including limited access to broadband connectivity and few professional services or high-level career opportunities. In an area where job creation is historically low, out-migration is high and capital investment is difficult to generate, Innovacorp developed a program to vanquish these barriers and facilitate sustainable economic growth in Atlantic Canada and across the country.
Recognized internationally as a best-practice method of commercializing technology, Innovacorp's High Performance Incubation business model, or HPi™, focuses on three areas: incubation infrastructure, mentoring, and seed and venture capital investment to help entrepreneurs overcome barriers to business growth.
The combination works, and the program's client metrics prove it. In FY2010, Innovacorp clients and graduates generated approximately C$280 million and created 1,455 high-paying jobs with a combined payroll of C$64 million. And since 2003, Innovacorp leveraged the Nova Scotia First Fund to attract more than C$106 million in investment capital.
Keywords: NBIA programs, selecting clients, In-house loan and equity financing program
Phone: (740) 593-4331
Fax: (740) 593-1996
PO Box 959
Athens, OH 45701-1565