Five Atlantic Canadian early stage startups receive $25,000 investment at Virtual Volta Cohort Pitch Event
Five Atlantic Canadian technology startups were selected to each receive a $25,000 investment through a microfund co-founded by Volta, BDC Capital, Innovacorp and the Atlantic Canada Opportunities Agency (ACOA). The companies will also receive mentorship from experienced entrepreneurs, and various resources to grow their businesses as part of the Volta Cohort program.
The companies were selected at a virtual pitch event on May 13, where 15 Atlantic Canadian startup founders pitched their businesses to a panel of judges, including representatives from Volta, BDC Capital, Innovacorp, ACOA and the region’s startup community.
“Companies selected to participate in the Volta Cohort program continue to outperform when it comes to job creation, rapid growth, and raising venture capital investments. Their impact and ambition – especially in uncertain times such as this – remind us of the importance of remaining agile in order to persevere,” said Martha Casey, Chief Operating Officer and Interim Chief Executive Officer of Volta. “As we move beyond the two-year pilot and work toward a new normal, we’re excited to see how this program will continue to grow, and to support these startups as they reach global markets and scale.”
The companies joining the next Volta Cohort include:
KorrAI (Halifax, NS) is an AI platform with domain expertise led learning to improve the operational efficiency of industrial systems
Kute Lab (St. John’s, NFLD) is creating a two sided platform; one side offers a mobile application to users that simplifies cosmetics ingredients (A chemist in your pocket) and on the other side provides market assessment to beauty manufactures
SmartMed (Halifax, NS) has created SmartShift, a tool that helps auto-schedule 800 shift positions in one minute, saving time and money
Habit Forming Technologies (Halifax, NS) is creating JackHabbit is a growth management system using persuasive technology, sentiment analysis, human interaction and more to provide an individualized solution that melds physical, mental health together under the umbrella of behavioural science. This company was formerly known as Vendura Wellness
VMOpro Inc. (River Ryan, NS) is a remote physiotherapy solution that enables patients to self-manage their injuries and conditions at home. The platform combines smart PhysioBalls that communicate with a mobile app and is monitored by physiotherapists through a clinical dashboard
Fifty-one full-time employees have been hired through Cohort companies; $7,512,500 in investments has been raised, and $1,403,190 in grant dollars have been received by Cohort companies.
Volta (formerly known as Volta Labs) is one of Canada’s largest innovation hubs, located in downtown Halifax, Nova Scotia. The Innovation Hub houses more 40 tech-based ventures, three Innovation Outposts, and five service and community partners, collectively employing more than 400 people in our space. Established in 2013, Volta aims to be a place where members of the Atlantic Canadian innovation ecosystem can work, connect and learn from one another by accessing co-working space, events and programs. Learn more at www.voltaeffect.com.
About the Atlantic Canada Opportunities Agency
The Atlantic Canada Opportunities Agency works to create opportunities for economic growth in Atlantic Canada by helping businesses become more competitive, innovative and productive, by working with diverse communities to develop and diversify local economies, and by championing the strengths of Atlantic Canada. Together, with Atlantic Canadians, ACOA is building a stronger economy. For more information, please visit www.acoa-apeca.gc.ca.
About BDC Capital
With more than $2-billion under management, BDC Capital is the investment arm of BDC, serving as a strategic partner to Canada’s most innovative and high potential firms. It offers a range of equity, venture capital and flexible growth and transition capital solutions to help Canadian entrepreneurs scale their businesses into global champions. To find out more, visitbdc.ca/capital.
Innovacorp is Nova Scotia’s early stage venture capital organization. It finds, funds and fosters innovative Nova Scotia startups that strive to change the world. The goal is to help those start-ups commercialize their technologies and succeed in the global marketplace. In addition to risk capital, Innovacorp gives entrepreneurs access to world-class incubation facilities, expert advice and other support to help accelerate their companies. More information at innovacorp.ca.