A company producing high value industrial chemicals from sustainably harvested seaweed has won $40,000 and other support. The business, SeaChange Biochemistry, is one of seven Nova Scotia start-ups selected after a recent competitive call for submissions in the GreenShoots competition.
GreenShoots supports early stage companies focused on innovation in agriculture, food, bioproducts, clean technology, and related sectors. The inaugural competition was launched in August by the Nova Scotia Innovation Hub, Bioenterprise Corporation and Innovacorp.
“GreenShoots will help capture our first customer and bring on board our first investor,” said Sabrena MacKenzie, co-founder of SeaChange. “Without the funding, we would have been at least three months longer reaching these goals, which may not sound like a big difference, but for a start-up, speed is critical.”
Each participating start-up will 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.
The companies are:
Alter Biota – $40,000
Bio-graphene additives to increase the strength of concrete and reduce its environmental footprint
Clever Fruit Products – $30,000
Fermented ingredients for nutraceutical, supplement, and functional food applications
DownNorth Technologies – $30,000
Technology to address waste from open-pen salmon farming
Kraken Sense – $40,000
Lab-on-a-chip technology to detect pathogens such as ecoli and salmonella
Milk Moovement – $30,000
Tool to improve efficiencies in the dairy supply chain
SeaChange Biochemistry – $40,000
Bio-chemicals from sustainably harvested seaweed
Sedna Technologies – $40,000
Traceability system for seafood, targeting the live lobster industry
“Nova Scotia’s agri-technology and bioeconomy sectors have seen significant activity in recent years. For example, since 2014, Innovacorp has worked closely with 75 start-ups in the sector, which represented 240 jobs and over $52 million investment,” explained Paul Richards, Innovacorp’s sector lead for agri-technology and bioresources.
The sectors provide an opportunity for rural regions to develop scalable technology companies as 65 per cent of companies are located outside of Halifax.
“Atlantic Canada has long been a driving force in early stage innovation,” said Dave Smardon, president and CEO of Bioenterprise. “We were deeply impressed by the quality of applicants, making those companies being awarded even more impressive. Congratulations to our funding recipients.”
“We are proud 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 creating economic opportunity in the province, while working to address key global challenges with their innovative technologies.”
Learn more about GreenShoots.
Bioenterprise is Canada’s food and agri-technology 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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October 22, 2020, Halifax, Nova Scotia