Volta and ACOA working together to enhance Startup ecosystem in Atlantic Canada
June 10th, 2013
Halifax, NS – The Atlantic Canada Opportunities Agency and Volta, a Halifax based startup house, are announcing today that they have joined forces to both improve and to increase the number of startup founders while bringing world-class education to startup founders in the region.
Along with financial support for Volta, ACOA staff will be working directly with Volta companies to help them enter new markets, commercialize their research and assist in business development activities. Financial support from ACOA to Volta totals a commitment of $170,000 over the lifetime of the project.
This commitment leverages Volta’s existing sponsors which includes: McInnis Cooper, Deloitte, OMERS Ventures, Eastlink and e3 Office Furniture.
“ACOA understands the importance of high-potential technology startups and the role they will play in building the economy of Atlantic Canada. We have been supportive of Volta and its mission from day one.“ said J. Curry, Manager Technology Investments at ACOA.
“Success stories such as Radian6, Q1 Labs or GoInstant have shown how much economic value can be built in ICT sector quickly. For example, only 18 months passed from founding of GoInstant to it’s acquisition by Salesforce for $70 Million dollars.” Said Milan Vrekic, Executive Director of Volta and added “but that is not the best part of the story. The best part of the story is in how much benefit these exits brought to their local communities. From founders who started investing locally, to experienced talent that joined other local companies.”
Volta, which has been operating since May 2013, recently celebrated its grand opening and since its launch it has become home to 10 Halifax-based startups and one New Brunswick based company. In that time Volta has delivered 5 events to Volta companies and the general public.
Volta is also home to Build Ventures, a new $50m Venture Capital fund focused on investing in growing companies in Atlantic Canada.
About Volta – www.voltaeffect.com
At Volta our vision is to create a place where entrepreneurship is celebrated and taking over the world is expected. We develop the best founders in the world, who in turn create world class companies.
Volta is located in downtown Halifax, Nova Scotia and is the residence for up to 13 high-potential technology companies who benefit from the Volta community of mentors, advisors and both angel and institutional investors. Volta is funded by McInnis Cooper, Deloitte, OMERS Ventures, e3 Office Furniture and Eastlink as well as private contributions.
Volta member companies include: Compilr, ModestTree, AnalyzeRe, InterviewRocket, FundMetric, TheRounds, IntroHive, TitanFile, UpMyGame, topLog and others.