Innovacorp today, Mar. 9, announced Dan MacDonald is leaving his role as the organization’s president and CEO to pursue an opportunity in the private sector. The interim leader will be Stephen Hartlen, vice president with Innovacorp.

“On behalf of Innovacorp’s board of directors, I want to thank Dan for his passion, expertise and leadership over the last five years,” said Dr. Jacquelyn Thayer Scott, chair of Innovacorp’s board of directors. ”Innovacorp’s work is a key part of building Nova Scotia’s knowledge economy, and Dan’s contribution to the organization has been invaluable.”

“I am extremely proud of the positive impact Innovacorp continues to make across Nova Scotia,” said Mr. MacDonald. “I am thankful for the strong support I have received from Innovacorp’s management, employees and board of directors, and from the province of Nova Scotia.

“Innovacorp has a strong vision and mandate and immense momentum. The board of directors is confident we have the people and strategy to further increase commercialization, innovation and entrepreneurship in Nova Scotia,” said Dr. Thayer Scott.

Mr. MacDonald joined Innovacorp in May 2005, bringing to the role more than 19 years of high tech business building experience, including several years in the heart of California's Silicon Valley high tech boom, bust and recovery periods. His five-year employment contract with Innovacorp was to expire in May 2010. His last day with the organization will be March 26, 2010.

Acting president and CEO Stephen Hartlen joined Innovacorp in the spring of 2003 with more than 14 years of private sector experience in business development, sales, and go-to-market strategy development in both the corporate financial services and the information and communications technology sectors.

A recruitment committee has been struck to find a new president and CEO.

Innovacorp helps early stage Nova Scotia companies commercialize their technologies and succeed in the global marketplace. Innovacorp’s High Performance Incubation (HPi)™ business model, which is recognized internationally as a best practice technology commercialization approach, incorporates incubation infrastructure, business mentoring, and seed and venture capital investment. Every day, Innovacorp staff provides hands-on business guidance, tailored to meet the unique and evolving needs of high potential early stage technology companies.

For more information, contact:
Dawn House
Innovacorp
902-424-8670 ext. 1189
Cell: 902-456-9705
DHOUSE@INNOVACORP.CA

Halifax, Nova Scotia, March 9, 2010