Business incubator gets funds

By Lawrence Powell

Spectator

NovaNewsNow.com



Almost $200,000 in funding was announced Monday for a three-year business incubator pilot project in Annapolis County centred around geomatics and the IT sector.

The NSCC-led incubator will enable budding entrepreneurs to start their own businesses in geomatics, information technology, and communications technologies.

Gerald Keddy, Parliamentary Secretary to the Minister of the Atlantic Canada Opportunities Agency (ACOA), announced Monday a Government of Canada investment of more than $100,000 in the project.

The province has kicked in another $67,000 and the County of Annapolis and towns of Middleton, Bridgetown, and Annapolis Royal have contributed $31,000.

“This is an exciting opportunity for Annapolis County residents and businesses,” said Annapolis County Warden Peter Newton during the funding announcements made at the Centre of Geographic Science in Lawrencetown. “The geomatic and IT Business Incubation Centre will ‘graduate’ tax-paying businesses to existing or new commercial space in communities within the region.”

“This facility will provide rental space, mentoring and management assistance, financial advice, technical services, technology support, broadband Internet access, and other essential services for start-ups,” said Keddy. “The statistics show that more than 80 per cent of incubated businesses survive.”

Keddy saluted the Nova Scotia Community College for their vision in moving the project forward.

“It will build on the excellent reputation of the geomatics and information technology programs at the Annapolis Valley Campus.”

Keddy was excited that for NSCC graduates who are self-starters, the business incubator will make it possible for them to stay and establish their careers right here in Nova Scotia.

Minister Mark Parent announced the provincial funding on behalf of Economic Development Minister Angus MacIsaac.

“Business incubation has a proven track record for encouraging innovation and entrepreneurship and helping early-stage companies grow,” said Parent. “Projects such as these are particularly important as we see the shift from a resource to a knowledge-based economy.”

Parent said the incubation pilot was possible because of the collaboration between the NSCC, InNOVAcorp, the province, Ottawa, the municipalities, the Annapolis Digby Regional Development Agency, and local businesses.

InNOVAcorp helped with building design specifications, participated in the hiring process, and presented their HPi model to the business community.

“Nova Scotia Community College generates ideas, applied

research and knowledge for its communities,” said Dr. Joan McArthur-Blair, NSCC president. “Expanding that platform to a new business incubation centre where research can grow into commercialization, entrepreneurship can be fostered and new businesses can be launched is very exciting. It is a business model in which everyone wins – especially the entrepreneurs and communities who have generously supported this initiative.”