The search is back on for early stage Nova Scotia companies focused on innovation in the green sectors, from agriculture and food production, to bioproducts and clean technology.
GreenShoots will open for submissions for the next round of participants as of tomorrow, June 1, 2021. The deadline is June 22.
The program’s partners, Nova Scotia Innovation Hub, Bioenterprise Corporation and Innovacorp, ran two successful rounds of the competition over the past year.
“When we launched GreenShoots a year ago, it was a bit of an experiment. We weren’t sure it was the best way to find and support our target companies,” said Dave Smardon, president and CEO of Bioenterprise. “But we were extremely pleased with the first couple of rounds, so we’re eager to try it again.”
Participating start-ups each receive up to $40,000 in non-repayable, non-dilutive funding as well as business guidance from seasoned professionals to put their plans into action.
“GreenShoots was just what we needed when we won last year. We used the support to get ready to start testing our products at commercial scale,” said Mark Masotti, president & CEO at Alter Biota. The company is developing bio-graphene additives to increase the strength of concrete and reduce its environmental footprint. Since winning GreenShoots, Alter Biota has secured venture capital and advanced its product development work at the Verschuren Centre in Sydney.
“We’re really happy to continue to support these high potential, emerging businesses as they seek to scale-up in Nova Scotia,” said Rod Badcock, executive director of the Hub. “They’re developing solutions that can address some of the world’s biggest challenges, and at the same time creating huge economic opportunity in the province.”
“The founders and technologies we’re seeing through GreenShoots are really impressive. Their growth will add to the emerging agtech and industrial biotech sectors we’re building in Nova Scotia,” said Paul Richards, Innovacorp’s sector lead for agri-technology and bioresources. “It’s clear there’s a real opportunity for our province to be a global leader in these sectors.”
The partners expect to award a total of $450,000 over two rounds of GreenShoots in the next 12 months.
Learn more about GreenShoots on the Innovacorp website when the program launches on June 1.
Bioenterprise is Canada’s Food & Agri-Tech Engine, bringing more than 15 years of industry experience to help businesses connect, innovate and grow. With expert commercialization services, mentorship, public and private funding, national and global networking, Bioenterprise will help scale your business to create sector-wide impact. www.bioenterprise.ca
Nova Scotia Innovation Hub
The Nova Scotia Innovation Hub was established in 2015 to foster opportunities in the bioeconomy. The organization works to transform Nova Scotia’s renewable resources into opportunities for the province’s economy and people. It is focused on improving access to feedstock supply, fostering collaborations to capitalize on the growing demand for low-carbon products, and providing financial support to help companies achieve critical commercialization milestones. www.novascotiainnovationhub.com
Innovacorp is Nova Scotia's early stage venture capital organization. It finds, funds and fosters innovative Nova Scotia start-ups that strive to change the world. Early stage investment is at the core of Innovacorp’s business model. The organization also gives entrepreneurs access to world-class incubation facilities, expert advice, and other support to help accelerate their companies. www.innovacorp.ca
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Halifax, Nova Scotia, May 31, 2021