News Release Archive

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

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.


Contact: Kimberly MacDonald-Vibert  902-424-8670 ext. 134

trp                     May 08, 1996 - 8:30 a.m.