Innovacorp has been named one of two finalists for the National Business Incubation Association's 2009 international award for work with start-up businesses.

The award recognizes the world's best methods to help new companies commercialize innovations and overcome hurdles. Previous winners have come from Silicon Valley, Paris and Taiwan.

The National Business Incubation Association is the world's leading organization for helping business start-ups and entrepreneurship. It is based in Ohio and represents more than 1,600 organizations in 40 countries.

"Through Innovacorp, the government of Nova Scotia supports some of our newest companies that hold the potential to sell innovative products and services to the world," said Economic and Rural Development Minister Murray Scott. "Congratulations to the talented team at Innovacorp for winning international recognition for their leadership in helping Nova Scotia's entrepreneurs turn great ideas into sustainable businesses."

Innovacorp is internationally recognized for its approach to helping early stage technology companies in Nova Scotia develop products and services for export. Its High Performance Incubation business model incorporates incubation infrastructure, business mentoring, and seed and venture capital investment to help entrepreneurs with business growth.

"This international recognition is a great honour for the Innovacorp team," said Dan MacDonald, president and CEO of Innovacorp. "Over three years ago, Innovacorp set out to become the best technology commercialization model to bring maximum value to our clients and stakeholders. We continuously refine our business model and proactively assess ourselves against other models around the globe."

Innovacorp's key industries include clean technology, information and communications technology, and life sciences. The organization is working hands-on with about 45 companies across the province, including CleanCount, Clinical Logistics, Coemergence, DementiaGuide, GOALLINE, ImmunoVaccine Technologies, Marcato Digital Solutions, Medusa Medical Technologies, MorSwift and ViaPeak.

"We're not the kind of organization that goes out looking for awards; we keep our heads down and get on with the critical work we're charged to do," said Jacquelyn Scott, chair of Innovacorp's board of directors. "But it's still very gratifying when the premier international organization in our sector narrows 'the best' to two and Innovacorp is one of them."

Innovacorp is a finalist with the prestigious San Jose BioCenter in San Jose, Calif. The winner will be announced in April at the National Business Incubation Association's annual international conference in Kansas City, Miss. (For a list of finalists in all categories of the 2009 National Business Incubation Association awards, visitWWW.INNOVACORP.CA/2009-NBIA-INCUBATION-AWARDS-FINALISTS.)

** Congratulations to the world-class San Jose BioCenter from San Jose, California, on winning the National Business Incubation Association's 2009 award for business incubation program of the year. It was a great honour for the Innovacorp team to be one of two international finalists, especially up against the San Jose BioCenter.

For more information, please contact:
Jennifer Batten
902.424.8670 ext. 1197

Halifax, Nova Scotia, March 23, 2009