Dozens of Nova Scotia businesses will be looking for opportunities to sell their goods and services in new markets with support from government.
Economic and Rural Development and Tourism Minister Michel Samson announced today, Oct. 21, that 26 companies will receive help to export their products through the Global Business Accelerator Program.
“These are innovative, leading-edge businesses that want to do business around the world,” said Mr. Samson. “Government understands that sometimes there are barriers to this kind of expansion, and we want to partner with our ambitious entrepreneurs and corporate leaders to create the conditions where they can grow and be successful.”
Considering the small size of the Nova Scotia market, trade is critically important to the economy and standard of living. The Nova Scotia Commission on Building our New Economy said the private sector must generate significantly more exports to achieve lasting economic turnaround.
Under the program, businesses hire a professional with international business expertise, and is reimbursed by government up to 80 per cent of eligible costs, to a maximum of $35,000.
One recipient is AGADA Biosciences. The Halifax company is working to develop drugs to fight disorders like muscular dystrophy.
“In the first 12 months of operations, we have had contracts from Italy, France, Sweden, England, and the United States, and new contracts are coming in from Japan, South Korea and Australia,” said company president Dr. Kanneboyina Nagaraju. “This program is certainly contributing to the rapid growth and success of AGADA.”
The program is administered by Nova Scotia Business Inc. on behalf of Economic and Rural Development and Tourism. This year’s total investment is $740,811.
For more information, including a list of recipients, visit www.novascotia.ca/econ/GBAP .