Technology entrepreneurs in Cape Breton will soon have more support and a new place to collaborate and do business.
Geoff MacLellan, Minister of Business, announced a contribution of $500,000 to the Momentum Initiative today, June 23. The investment will help create a new hub for entrepreneurs, innovators and the many organizations supporting them.
“I’m delighted to see these organizations come together in a more collaborative and co-ordinated way,” said Kimberly Desveaux, co-program director for Brilliant Labs. “I know first-hand how important it is for entrepreneurs to access the supports they need, when they need them.”
Momentum will be based out of the New Dawn Centre for Social Innovation in downtown Sydney and move into other communities across Cape Breton.
“Our long-term economic success depends upon creating a culture of innovation and collaboration and we’re building momentum in Cape Breton,” said Mr. MacLellan. “This project will bring the island’s startup community together, enhance services and spark innovation. The entrepreneurs who participate in Momentum will create jobs for young Nova Scotians and develop products for world markets.”
Innovacorp will manage the initiative. The Cape Breton Partnership, Cape Breton University, Nova Scotia Community College, National Research Council of Canada, Propel ICT and other key partners will support the project.
There will be new programs, an entrepreneur-in-residence, shared office space and a new machine shop at New Dawn, with welding equipment, a mill, a 3D printer, an electronics lab and other tools for inventing and prototyping new products.
“This initiative will help Cape Breton’s startup community grow faster and stronger,” said Stephen Duff, president and CEO of Innovacorp. “We’re excited to get going.”
The federal government is also contributing $1.4 million to the project through the Atlantic Canada Opportunities Agency (ACOA).
“The Government of Canada is committed to making the investments needed to stimulate the region’s economy and build on Atlantic Canada’s competitive advantages, such as its strong export potential, growing innovation ecosystem, and skilled workforce,” said Mark Eyking, MP for Sydney–Victoria on behalf of Atlantic Canada Opportunities Agency Minister Navdeep Bains. “This project will have a significant impact throughout Sydney and all of Cape Breton.”