News Release Archive
ECONOMIC RENEWAL--INNOVACORP OPEN FOR BUSINESS ----------------------------------------------------------------- The official launch of InNOVAcorp (Nova Scotia Innovation Corporation) as a new Crown corporation took place today at its facilities in Dartmouth. The launch is the culmination of a year's extensive planning to bring all of the government's support of developing technology-based businesses under one corporation. "We are constantly working to build strategic partnerships like the one we are celebrating today," said Premier Savage. "InNOVAcorp helps us achieve our goal of enhancing and advancing the commercialization of new technology-based products in Nova Scotia resulting in an industrial sector second to none." "The message we want to convey to Nova Scotia companies is that InNOVAcorp is in business to do business," said Dr. Ross McCurdy, chief executive officer of InNOVAcorp. "We are here to assist in the development of Nova Scotia technology and to make sure it finds its rightful place in markets in the four corners of the globe." InNOVAcorp is now able to take equity positions in companies it believes will succeed. "Investing in technology can be a risky business," said Dr. McCurdy, "but without risk there is also no opportunity to grow." InNOVAcorp combines the assets and resources of the former Nova Scotia Research Foundation Corporation, Technology Innovation Centre, Nova Scotia FIRST Fund, Council of Applied Science and Technology and the Technology Associations Secretariat of the Nova Scotia Advanced Technology Collegium. Premier Savage said the experience this corporation has gained with business over the last half-century under the name of the Nova Scotia Research Foundation Corporation and the Technology Innovation Centre uniquely equips InNOVAcorp with expertise and judgment to accelerate the growth and prosperity of the technology sector in this province. InNOVAcorp has over 100 scientists, engineers, business and technical staff linked to universities, research institutions and companies throughout the province. It also administers such programs as the Industrial Research Assistance Program (IRAP), Technical People in Industry (TPI), and the Quality and Productivity Initiative (QPI). Additionally, it offers a full service business incubator facility at its Innovation Centre. -30- Contact: Kimberly MacDonald-Vibert 902-424-8670 ext. 134 trp May 08, 1996 - 8:30 a.m.