Local business leader Stephen Duff is the new president and CEO of Innovacorp.    

Mr. Duff brings 30 years of experience as a business and product development professional in the private sector. His appointment takes effect April 1.

Economic and Rural Development and Tourism Minister Percy Paris said he is confident Mr. Duff will build on the important role Innovacorp has played to help develop the business community.

"The young, knowledge-based companies Innovacorp works with are built on innovation, a pillar of jobsHere," said Mr. Paris. "I'm confident Mr. Duff and his team will help foster stronger companies that develop new products, attract more investment, reach new markets, and create more jobs for Nova Scotians."

Tom Traves, Innovacorp's interim board chair and president of Dalhousie University, was enthusiastic about the appointment and the future.

"We're delighted to welcome Stephen to this role," said Mr. Traves. "Nova Scotia's entrepreneurial and technology community is so vibrant now. Innovacorp is eager to help build on the momentum, and Stephen is just the person to lead us in this charge."

For the past 25 years, Mr. Duff has held senior roles at Precision BioLogic Inc., which develops, manufactures and markets innovative blood diagnostic products. The Dartmouth-based company has grown significantly in recent years, and now markets its products throughout Canada, the U.S. and Europe.

Precision BioLogic transformed from a struggling start-up with a modest market in Atlantic Canada, into a profitable, 60-plus employee company with internationally recognized products.    

Mr. Duff said he is excited to work with the Innovacorp team and board and the entrepreneurial community.

"After developing a technology company for the past 25 years and receiving fantastic support in Nova Scotia, this opportunity is a wonderful way for me to give back, as well as work with the exciting community of up and coming technology companies," said Mr. Duff. "I look forward to making a positive difference in the province that has been so good to me."

Mr. Duff helped establish Precision BioLogic as a trusted partner with leading health-care organizations, and has overseen the development of 30 new products.

In his recent position as co-CEO in 2011 and 2012, he helped achieve double-digit sales growth and the company was recognized as one of the best places to work in Canada.

Before joining Precision BioLogic, Mr. Duff worked for five years in sales and promotion with Organon Teknika Canada, a division of the Dutch diagnostics multinational Akzo.

Mr. Duff was an Innovacorp board member since 2005 and an investment committee member since 2011. He is also past-president of BioNova, the Nova Scotia life sciences industry association. The New Brunswick native has a bachelor of science and an MBA from Dalhousie University.

Mr. Paris and Mr. Traves thanked Jacquelyn Thayer Scott for her excellent work as Innovacorp's interim CEO for the past year and are pleased she is returning to her role as board chair.

For more information contact:

Dawn House
T 902.424.8670 ext. 1189
M 902.456.9705

Halifax, Nova Scotia, March 8, 2013