The government is investing $1 million in Propel ICT to help grow the number of tech startups and support entrepreneurs across the province.
Susan Corkum-Greek, Minister of Economic Development, announced the funding today, May 16, to one of Propel’s corporate clients, Frenter, in Halifax.
“Our province’s economic success will be determined by how we foster a culture of innovation, sustainability and entrepreneurship,” said Minister Corkum-Greek. “Propel has done a tremendous job accelerating the growth of technology startups across the Atlantic region and supporting entrepreneurs right here in Nova Scotia. This funding will help Propel continue its important work. »
The investment is a three-year deal, worth $350,000 per year. Propel is a private sector-led, not-for-profit organization that mentors technology startups across Atlantic Canada by helping them validate their business ideas, grow revenue and attract investment.
Quotes:
Nova Scotia continues to develop a reputation as a top destination in Canada to build a startup. The caliber of companies we see benefit from our program is a testament to the support system and resources founders can access, regardless of the stage of their business. It is clear that Nova Scotia has a vision for the innovation economy and we are very proud to collaborate with the province and continue to create meaningful partnerships and build the capacity of our Nova Scotia businesses to succeed .
Catherine Lockhart, CEO, Propel
As a Nova Scotian Propel alumnus, I am grateful for the guidance I received throughout my entrepreneurial journey. Not only is there a lot to learn about developing technology, there is also a lot to understand about customer validation, marketing, recruiting, and fundraising. My coach and the experts I met through the Propel program were invaluable.
Zach Laberge, CEO and Founder, Border
Fast facts:
- Propel was founded in 2003 and offers services in all four Atlantic provinces.
- it admits approximately 110 companies into its programs in the Atlantic region each year.
- in 2022, it admitted 37 Nova Scotia companies into its programs
- the three-year agreement began on April 1, 2023
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