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Innovacorp

Halifax, Nova Scotia, Canada

Stephen P. Hartlen, interim president & CEO and vice president of mentoring

Year established: 1995

Incubator size: 137,500 square feet (in three facilities)

Incubator clients: 45

Incubator graduates: 30

www.innovacorp.ca

Achievements: Innovacorp aims to fuel sustainable economic growth in Nova Scotia by helping knowledge-based companies commercialize technologies and increase competitiveness in export markets. Its High Performance Incubation (HPi)™ business model incorporates incubation, mentoring and investment services for information technology, life science, clean technology and advanced manufacturing firms.

Innovacorp charts its success by monitoring several economic, client satisfaction and leading indicator metrics, including revenue generated, jobs created and direct employment payroll contributed by clients and graduates. Since opening in 1995, the incubation program has assisted 425 clients. In fiscal year 2009-2010 alone — which ended March 31 — its clients and graduates generated C$279 million in revenue. During that same time period, 96 percent of clients said they were satisfied with Innovacorp's services and 89 percent would refer a business colleague to the incubator. The program also has seen an increase in the number of clients exporting products or services internationally and a rise in the incubator's occupancy rate over the last five years.

The success of Innovacorp's clients demonstrates how well the incubator is assisting clients and creating economic growth. "Innovacorp's biggest success is the success of our client Ocean Nutrition Canada, a company that started in our life science incubator in 1999, and now has global revenues of more than C$130 million and employs over 300 people," says interim Innovacorp President & CEO Stephen P. Hartlen.

Contact NBIA

Phone: (740) 593-4331
Fax: (740) 593-1996
340 West State Street, Unit 25
Athens, OH 45701-1565
info@nbia.org

The Randall Whaley Incubator of the Year Award is sponsored by:

Friends of the University City Science Center