Early stage technology companies in Cape Breton will soon have increased access to the business support they need to be successful as Innovacorp establishes an incubation facility in the area.

Venture Solutions Inc. and Innovacorp are collaborating to deliver products and services to high potential knowledge-based companies based at a business incubation facility in Sydney.

"We're delighted to team up with Venture Solutions to provide investment and mentoring to local technology companies," said Jacquelyn Thayer Scott, chair of Innovacorp's board of directors. "We believe that Innovacorp's stronger presence in Cape Breton will help entrepreneurs accelerate their business growth."

"It's fantastic to be able to apply Innovacorp's internationally-recognized high performance incubation business model to our existing offering," said Venture Solutions partner Merrill Carmichael. "We're especially excited about Innovacorp's venture investment fund and accompanying hands-on business guidance for our clients."

Bob Pelley, Innovacorp's long-time senior business advisor in Cape Breton, will be based at the Innovacorp facility in Sydport Industrial Park. The centre has 10 resident companies, with space to accommodate new clients. The facility offers flexible office, research and development, and manufacturing space, administrative resources, meeting rooms, and in-house accounting and project management expertise. Resident companies can also access meeting rooms and business services at Innovacorp's Halifax and Dartmouth incubation facilities.

"It's encouraging to see the public and private sectors collaborating in this way," said Corrine McIsaac, president of HealthOutcomes Worldwide. "We've been a resident at this facility for almost a year, and have been receiving help from Innovacorp since early last year. The two teams and their services seem like a natural fit for young technology companies like ours."

Innovacorp is Nova Scotia's technology commercialization agency, helping high-potential early stage companies succeed in the global marketplace. The organization's High Performance Incubation business model is an internationally recognized approach to technology commercialization, combining incubation infrastructure, business mentoring, and seed and venture capital investment.

Venture Solutions Inc. provides services and support to startup and existing businesses from a variety of sectors. Believing that imagination and collaboration are key ingredients to success, Venture Solutions focuses on four areas of service: financing, accounting, project and innovation management.

For more information, contact:

Dawn House              
Innovacorp               
902.424.8670 x 1189
DHOUSE@INNOVACORP.CA

John Aylward, Partner
Venture Solutions Inc.       
902.595.2697
Cell: 902.317.0549
JOHN@VENTURESOLUTIONSINC.COM

June 15, 2011, Halifax, Nova Scotia