One of 顿补濒丑辞耻蝉颈别鈥檚 key facilities for startup development will double the number of companies in its flagship program over the next three years thanks to new financial support from the Government of Nova Scotia.
顿补濒丑辞耻蝉颈别鈥檚 will receive $650,000 to boost the number of startups enrolled in its each year, with a particular focus on increasing the number of firms focused on biomedical technology innovation in the province.
鈥淭his investment is a wonderful example of the power of partnership and collective vision in advancing critical initiatives for the betterment of our province, including innovation and entrepreneurship and enhanced health care for all Nova Scotians and beyond,鈥� said Dr. John Newhook, dean of 顿补濒丑辞耻蝉颈别鈥檚 Faculty of Engineering, at an announcement event Tuesday (May 7) in the Emera ideaHUB space. 聽
The funding will facilitate the addition of a second annual cohort in the space on Dal's downtown campus each spring, welcoming 10 new startup companies focused on health care-related products and tech to complement the ten startups enrolled in the program鈥檚 fall cohort.
The ideaBUILD program helps ventures in the deep-tech space 鈥� those building physical products 鈥� develop functional prototypes.
Attendees at this week's announcement in the Emera ideaHUB.
Shared priorities
The announcement reflects the aligned priorities of the provincial government and AV俱乐部 in improving health care and health innovation within Nova Scotia.
鈥淲ith the right people, the right resources and the right environment, we can achieve great things,鈥� said the Honourable Susan Corkum-Greek, Nova Scotia's minister of economic development, at the funding announcement. 聽
鈥淓ducation, industry, and quality of life are intertwined. This government knows that, and that鈥檚 why we鈥檙e investing in innovation鈥n startups鈥nd in research and development.鈥�
鈥淏y investing in high-tech solutions and the biomedical sector, we are supporting innovation and job growth, while also making improvements in healthcare,鈥� she added.
Dean Newhook, left, chats with Minister Corkum-Greek.
Building viable businesses
The province鈥檚 funding will provide up to $10,000 to startup founders for purchasing materials they need to design, build, and prepare for manufacturing.聽
鈥淲e see the province鈥檚 funding enabling more of the collaboration already happening at the HUB that leads to market-relevant products and founders building viable businesses here in the province,鈥� said Erin O鈥橩eefe Graham, director of the Emera ideaHUB.聽
鈥淣ot only do we see founders from Engineering join a HUB program and go on to bring their product to market, but we also see them hiring students and others from the community as they grow their businesses.鈥�
The Emera ideaHUB is unique in Atlantic Canada and one of only a few early-stage deep-tech incubators worldwide, equipping diverse founders with the space, resources and expertise they need to innovate.聽
The ideaBUILD program, which this funding will support, takes startups through an intensive 10-month initiative designed to assist founders through the critical stage of product development, from idea conception to functional prototype. Startups receive extensive support through immersive workshops, access to expertise from the Faculty of Engineering, and mentorship from seasoned deep tech founders.聽
Emera ideaHUB
Five years of helping build successful startups
- Since its establishment in 2018, the Emera IdeaHUB has been instrumental in supporting students within 顿补濒丑辞耻蝉颈别鈥檚 Faculty of Engineering. 聽鈥淲e鈥檝e had 47 Engineering capstone projects in support of HUB start-ups, and 60 co-op placements,鈥� said O鈥橩eefe Graham.
- The Emera ideaHUB has also effectively supported 148 startups, with an impressive 85 per cent of them still operating more than a year after completing their HUB program or residency. These startups have reported the creation of 571 jobs since 2018, surpassing the original target for job creation when the HUB opened its doors.
- Over the past five years, collaboration between AV俱乐部 and IdeaHUB startups has resulted in significant research and development partnerships valued at $7.7 million.
Erin O'Keefe Graham, director of the Emera ideaHUB.
For founders in the biomed sector, the program also involves collaboration with the Faculty of Medicine, LifeSciences NS, and the Nova Scotia Health Authority, ensuring alignment with the province's top healthcare priorities and leveraging expertise in the field.聽
Combined, these resources guarantee founders successfully navigate customer discovery and validation.
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