Sprint is a competition for early stage technology companies in Nova Scotia. Winners receive up to $25,000 and guidance from seasoned business professionals to put their ideas into action. The goal of Sprint is to find and support high potential, early stage knowledge-based companies, and encourage entrepreneurial activity in the province.
Sprint is now closed for submissions! The deadline was Wednesday, May 15, 2019, by 11:59 pm ADT.
Below are highlights about the opportunity. You'll also find details in the SPRINT INFO KIT.
We’re looking for the best early stage technology companies in Nova Scotia. If that’s you, tell us about your venture.
Sprint is designed to be an iterative program, rewarding start-ups based on milestone achievement. To provide ongoing support for entrepreneurs, Innovacorp will run multiple sprints throughout the year. Sprint winners will receive funding and business guidance to tackle short-term technical and/or business milestones in a start-up “sprint.” Winners that have demonstrated progress on milestones may re-apply for funding in subsequent rounds of Sprint.
Applicants will be accepted under two streams:
- Phase 1 Sprint: Company has not previously received Sprint funding.
- Phase 2 Sprint: Company has previously won Sprint funding and has achieved milestone progress. Company is now seeking Sprint funding to undertake new milestones.
Sprint winners will have regular meetings with Innovacorp to work on their milestone plan. They will also attend three workshops on key subject areas to fast-track their progress: customer discovery, identifying and sizing market opportunities and pitching to investors. Participation in the coaching sessions and workshops is mandatory.
Entrants must be a start-up based in Nova Scotia. They have identified a large market pain and market opportunity, and have established a company around a customer-validated solution. Funds awarded will be used to support the completion of prototypes or preparation for taking the product or service to market.
Entrants must be the majority owner(s) (51 per cent or more) of the start-up and plan to work full-time with the business.
Entrants must be an early stage technology company in any sector. We’re especially interested in start-ups from the information technology, life sciences, clean technology and ocean technology sectors. However, we welcome submissions for any innovation with big market potential.
Winners of Innovacorp’s Accelerate Program (excluding global stream participants) are ineligible to apply to Sprint with the same product or service, but may apply with a different product or service and a different company. Companies that have raised more than $25,000 in equity investment from Innovacorp are also ineligible.
Eligibility details can be found in the SPRINT INFO KIT.
How do I enter?
Entering was easy. Start-ups simply completed the Microsoft Word application form available on our website, answering the questions in the boxes provided. They submitted the document at www.innovacorp.ca/sprint-submission by Wednesday, May 15, 2019 by 11:59 pm ADT. Please note that Innovacorp is unable to accommodate updates once summaries are submitted.
Winners will receive up to $25,000 in non-dilutive, non-repayable funding per Sprint, as well as guidance from seasoned business professionals.
The amount awarded will be determined by the judging committee. A total of $100,000 will be awarded in each Sprint intake period.
Companies are eligible to win a maximum of $75,000 from Sprint over time.
All submissions will be treated confidentially and will not be made available to the public. Only those directly involved in managing or judging the competition will view submitted documents. While summary details will not be disclosed, the competition organizers reserve the right to announce those who advance to subsequent competition rounds.