Volta Labs, Halifax’s technology super hub, is tripling in size to better serve its growing network of entrepreneurs and Halifax’s growing technology community.
Premier Stephen McNeil announced an investment of $2.25 million in Volta Labs today, Dec. 5. The investment is over three years.
“Innovation is key to our economic future,” said Premier McNeil. “This funding will give more entrepreneurs in Nova Scotia the support they need to start great companies. It will also help our vibrant startup community continue to grow. Ultimately, that means more jobs and opportunity for young Nova Scotians.”
Volta Labs was established in 2013 by a group of emerging entrepreneurs and is now a cornerstone of Halifax’s innovation district.
Volta will use the funding to increase its space in the Maritime Centre office building from 20,000 to 60,000 square feet, making Volta one of Canada’s largest technology hubs. The expansion will include more office space for startups of all stages and sizes, and a new event space on the Barrington Street level. The investment will also support operational costs related to the expansion over the next three years.
“This investment will help us support entrepreneurs and create a home for the technology community in Halifax,” said Jesse Rodgers, CEO of Volta Labs. “As Volta expands and our startup community grows, we will continue to be the place where high-potential founders come together, learn from each other, and build globally competitive companies. This is key to building Halifax’s innovation district.”
“It makes me so happy to see the province supporting Volta’s expansion,” said Dennis Cottreau, co-founder and CEO of Bereda Training. “I walked into Volta in January with a promising product but no users. Getting involved in the Volta community changed the way we operate and think about what we’re doing.
“Now, my co-founder and I have a business that’s starting to grow. Volta’s expansion will give more young people that experience.”
Key Facts on Volta Labs:
— more than 50 early-stage companies have worked out of Volta Labs since 2013
— 70 per cent of Volta’s companies are still in business
— Volta companies currently employ more than 290 full-time staff
— most of Volta’s company founders are between age 26 and 40
— Volta companies have raised more than $50 million in equity funding
— two Volta alumni companies have exited
— several Volta companies have at least $1-million in annual recurring revenue
— Volta hosts more than 150 community events each year, including networking events, training sessions and meet-ups.