Venture Capital Support for Emerging Atlantic Canadian Companies

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Charlottetown

141 Kent St., Suite 300
McInnes Cooper Building
Charlottetown, PE
C1A 1N3

Tel: 902.368.8473
Fax: 902.368.8346

Fredericton

570 Queen St., Suite 600
Barker House
Fredericton, NB
E3B 6Z6

Tel: 506.458.8572
Fax: 506.458.9903

Halifax

1969 Upper Water St., Suite 1300
Purdy’s Wharf Tower II
Halifax, NS
B3J 3R7

Tel: 902.425.6500
Fax: 902.425.6350

Moncton

644 Main St., Suite 400
Blue Cross Building, South Tower
Moncton, NB
E1C 1E2

Tel: 506.857.8970
Fax: 506.857.4095

Saint John

1 Germain St., Suite 1700
Brunswick Square
Saint John, NB
E2L 4V1

Tel: 506.643.6500
Fax: 506.643.6505

St. John’s

10 Fort William Pl., 5th Floor
Baine Johnston Centre
St. John’s, NL
A1C 1K4

Tel: 709.722.8735
Fax: 709.722.1763

Venture Capital Support for Emerging Atlantic Canadian Companies

June 6, 2011

On June 5, 2011, Nova Scotia and New Brunswick announced they will fund a new, privately operated, regional venture capital fund designed specifically to support emerging companies throughout Atlantic Canada.

For high potential companies that do not yet have the cash flow to secure financing from traditional lenders, a venture capital fund is critical in the early stages of their business development. Investment is especially important for businesses that provide innovative products or services. Recognizing this, the provinces have designed the fund to target companies throughout Atlantic Canada that are involved in clean technology, life sciences, and information technology and other high growth sectors.

In April of 2011, the Province of Nova Scotia committed $15 million in the 2011-12 Budget to create the regional venture capital fund. Since this announcement, Nova Scotia has been actively trying to expand the fund. Nova Scotia’s premier approached federal colleagues and fellow Atlantic premiers for support. Last week, the Province of New Brunswick committed to contribute $15 million to the fund. Now, both Nova Scotia and New Brunswick plan to continue to work with private-sector partners, institutional investors, and the federal government to ensure the companies with the most potential can compete.

In addition to the regional venture capital fund, in April 2011, the Nova Scotia Premier’s Office announced the launch of a fund for emerging companies in the clean technology industry. Nova Scotia injected $24 million into a fund developed to provide increased access to capital for companies involved in clean technologies such as renewable energy, energy efficiency, air and water quality solutions, and recycling. This fund is managed by Innovacorp, Nova Scotia’s technology commercialization agency. Innovacorp follows an internationally recognized approach to technology commercialization known as the High Performance Incubation business model. This model will be used to drive company performance through progressive funding as each company meets their respective operational milestones.

We are pleased to provide you with detailed biographies on our lawyers, paralegals and administrative team, so you can learn more about how we can best support your business' success.

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We want to hear from you: Did we delight you with great service or a timely insight? Did we miss the mark? Are you looking for legal advice? If so, we want to know. Just type a few lines into our form, send an email to client.service@mcinnescooper.com, or call 1-855-622-6668.

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Moncton

Saint John

St. John’s

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We are pleased to provide you with detailed biographies on our lawyers, paralegals and administrative team, so you can learn more about how we can best support your business' success.

Advanced Filters

Contact

We want to hear from you: Did we delight you with great service or a timely insight? Did we miss the mark? Are you looking for legal advice? If so, we want to know. Just type a few lines into our form, send an email to client.service@mcinnescooper.com, or call 1-855-622-6668.

Charlottetown

Fredericton

Halifax

Moncton

Saint John

St. John’s

Send Us Feedback

Un moment s'il vous plaît...

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