Innovacorp

Innovacorp is a Nova Scotia-based venture capital firm dedicated to supporting early-stage technology companies. Established in 1995, Innovacorp operates as a Crown corporation with a mission to help Nova Scotia entrepreneurs commercialize their technologies and succeed in the global marketplace. The firm focuses on sectors such as information technology, life sciences, clean technology, and ocean technology.

Innovacorp's investment strategy centers on providing seed and early-stage funding to promising startups. In addition to financial support, Innovacorp offers business mentoring and access to world-class incubation facilities to accelerate company growth. The firm's High Performance Incubation (HPi) business model has been recognized internationally for its effectiveness in nurturing emerging technology companies.

Over the years, Innovacorp has made significant investments in various startups, including SimplyCast, CarbonCure, GoInstant, SabrTech, Equals6, AioTV, LiveLenz, TruLeaf, DeNovaMed, Airline Employee Travel Inc (GoBumpFree), Proposify, and TitanFile. Notably, Innovacorp invested approximately C$3 million in Meta Materials Inc., a Dartmouth-based developer of high-performance functional materials and nanocomposites. In 2021, following Meta Materials' listing on the Nasdaq stock exchange, Innovacorp sold its shares, resulting in a $104 million return on investment.

Innovacorp's commitment to fostering innovation and entrepreneurship has been recognized with awards such as the National Business Incubation Association's international award in 2010 for its work in the business incubation industry. This accolade highlights Innovacorp's role in driving economic growth and supporting the development of high-technology industries in Nova Scotia.