HALIFAX—The search is on for the world’s best clean technology start-ups, and the goal is to bring them to Nova Scotia.
The Nova Scotia CleanTech Open, launched this week, is an international competition to find and fund high-potential, early-stage clean technology companies while putting the spotlight on Nova Scotia as an ideal location for these companies to grow.
“Clean technology is one of the world’s fastest growing industries. Knowledge-based companies like those in the clean technology sectors create good jobs and are vital to Nova Scotia’s future prosperity,” said Percy Paris, Minister of Economic and Rural Development and Tourism. “This competition supports the innovation and competitiveness priorities of jobsHere, our plan to grow the economy.”
The winner receives $100,000 in cash; a $200,000 negotiable seed investment; mentoring; and in-kind business building services, including one-year free rent of turn-key space at the Innovacorp Enterprise Centre in Halifax.
The winner will be incorporated in Nova Scotia, with the intent to build the business in the province.
“Nova Scotia has a lot to offer emerging clean technology ventures, from clean energy resources to a supportive business and policy environment,” said Clifford Gross, president and CEO of Innovacorp. “Now we’re adding venture capital coupled with business support services to help accelerate growth and market success for these companies.”
Entrepreneurs have until 5 p.m. on Thursday, Dec. 1, to submit their entries. The judging panel will select a short list that will be invited to move on to round two of the competition.
The short list will be announced on Dec. 15. The winner will be announced in April 2012.
Submit your pitch online at www.novascotiacleantech.com.
Innovacorp, Nova Scotia’s technology commercialization agency, manages a venture capital fund that invests in early stage, high-growth companies. Target industries include clean technology, information technology, and life sciences.