I-3 Technology Start-Up Competition Winner Announced
Published Tuesday, February 9, 2010
Tether from Halifax was awarded a $100,000 seed investment from Innovacorp to build on its early business success. Innovacorp announced Tether as the provincial winner of the I-3 Technology Start-Up competition at an event that marked the end of the five-month competition.
Innovation leading to a robust knowledge-based economy is critically important to Nova Scotia's prosperity. Innovacorp's I-3 Technology Start-Up Competition once again highlights the innovative and competitive entrepreneurial spirit that exists across Nova Scotia."
Premier Darrell Dexter
This competition has both challenged and helped our company to improve our business approach. The cash, seed investment, and in-kind services we have won, combined with the exposure and credibility of being named first out of over 100 submissions, will propel our business forward."
Tim Burke of Tether
Tether has a solid plan for future growth, a clear understanding of its target market, proprietary technology, and financial and operational feasibility,. We look forward to playing a key role in the bright future of this company and many others."
Dan MacDonald, president and CEO of Innovacorp
- The five zone winners are:
- Zone 1 (Cumberland, Colchester, Pictou, Antigonish and Guysborough counties): LST Energy, Jim Trussler, Gus Swanson and Philip Landry, Pictou
- Zone 2 (Lunenburg, Queens, Shelburne and Yarmouth counties): Xona Games, Matthew and Jason Doucette, Yarmouth
- Zone 3 (Digby, Annapolis, Kings and Hants counties): Clare Machine Works Ltd., Vince Stuart, Meteghan Centre
- Zone 4 (Halifax Regional Municipality): Tether, Tim Burke and Stephen Hankinson, Halifax
- Zone 5 (Victoria, Cape Breton, Inverness and Richmond counties): Health Tech Outcomes, Corrine McIsaac, New Waterford
- The provincial I-3 Technology Start-Up competition was launched on Sept. 9. In the weeks after the launch, Innovacorp received 133 formal submissions from entrepreneurs across Nova Scotia.
- I-3 stands for idea, innovation and implementation, the early steps in the commercialization process. The competition identifies and supports high-potential early stage knowledge-based companies and encourages entrepreneurial activity across the province.
- The I-3 competition allows Innovacorp and its 29 partners to improve the business-building assistance they provide to knowledge-based companies in Nova Scotia.
- In total, $800,000 in cash, seed investment, and in-kind business-building services was awarded to the 10 winners. In addition to the $100,000 seed investment given to the provincial winner, the first-place zone winners each received $100,000 in cash and in-kind business building services and the second-place winners won a $40,000 package.
- Innovacorp's High Performance Incubation (HPi) business model, recognized internationally as a best-practice technology commercialization approach, incorporates incubation infrastructure, business mentoring, and seed and venture capital investment. Every day, Innovacorp staff provides hands-on business guidance, tailored to meet the unique and evolving needs of high-potential early stage technology companies.
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