Private sector opportunities for Geomatics cluster

By Carolyn Sloan

The Spectator

NovaNewsNow.com

InNOVAcorp’s president and CEO Dan MacDonald had some good news for Nova Scotia Community College’s Centre of Geographic Science last week – the province’s technology sector is targeting a worldwide market and there is money to be made.

MacDonald made a presentation before faculty in the afternoon on January 22, and a second public presentation that evening.

The crown corporation has been working with high-potential early stage companies that aim to bring their innovative technologies to the global marketplace. Through process of high performance incubation, mentorship through a network of specialized and skilled advisors, and investment, InNOVAcorp’s efforts will have helped generate $200 million dollars in export revenue for their clients by the end of this fiscal year.

No stranger to COGS, InNOVAcorp has already partnered with the Nova Scotia Community College to develop a business incubator at the Annapolis Valley campus, where former students have been given the opportunity to start their own companies based on Geomatics technologies.

MacDonald noted that the most appealing and successful of these companies are those which have the knowledge and skills to back up their product, such as is found within Annapolis County’s Geomatics cluster.

“These companies…have the skills, the capability,” MacDonald explained. “They know who out there has the knowledge and expertise.”

Knowledge-based companies are particularly appealing in terms of attracting other companies to Nova Scotia, creating local wealth, and fostering more sustainable operations, he added.

“We help people to get fit for the fight,” said MacDonald, “so they can go out and confidently look for that equity capital.”

Last year, InNOVAcorp was engaged by 106 prospective clients. This year, the number has risen to 150. Each quarter, the organization takes on 10 to 25 new start-ups, from companies offering new medical technologies, to innovative software catering to the resource sector.