InNOVAcorp Invests $500,000 in TecKnowledge
INNOVACORP InNOVAcorp Invests $500,000 in TecKnowledge
InNOVAcorp recently invested $500,000 in TecKnowledge Healthcare Systems Inc. of Dartmouth. Under the terms of the investments, InNOVAcorp will provide TecKnowledge with funds to assist with critical market research and the development of new products.
Founded in 1993, TecKnowledge is the Canadian leader in the design, implementation and management of tele-health programs. Tele-health enables remote patient diagnosis, and the delivery of health services and educational programs regardless of distance. TecKnowledge has helped establish successful operational tele- health programs nationally and internationally, pioneering several tele-health applications in the process. The company's corporate head office is located in Nova Scotia, with additional offices in Alberta, Ontario, and British Columbia.
"We are extremely pleased to receive this investment from InNOVAcorp, as well as its support for TecKnowledge's continued growth," said Dorothy Spence, president, CEO and co-founder of TecKnowledge Healthcare Systems Inc. "This investment positions TecKnowledge to further pursue new tele-health opportunities across Canada. The financing also strengthens the company's position within the Canadian tele-health industry, providing the financial platform and support to explore innovative IT growth opportunities."
"Companies have told us access to financing is one of the greatest challenges to their growth," said InNOVAcorp CEO Dr. Ross McCurdy, referring to the recently released Life Sciences Industry Report 2000, the first economic analysis of this industry in Nova Scotia. "TecKnowledge is one of the reasons why our life sciences industry is growing at 40 per cent, twice the Canadian average. We believe by supporting knowledge-based companies in life sciences and IT we can have a real impact on the future of this province."
As part of its commitment to the IT industry, InNOVAcorp is host of Softworld 2000, a global, online business development forum that matches technology companies with strategic and international partners from around the world. Softworld 2000 is currently taking place online at www.softworld2000.com, and it culminates Oct. 15-18 in Halifax, where InNOVAcorp is expecting more than 1,000 senior IT executives from 40 countries to attend.
Investment financing is just one of InNOVAcorp's network of critical business resources available to entrepreneurs to help them commercialize their technology-based products and services. To date, InNOVAcorp has made or committed to investments in 23 promising Nova Scotia companies. Investments are made in innovative Nova Scotia-based companies that meet specific investment criteria.
NOTE TO EDITORS: A backgrounder with condensed information from the Nova Scotia Industry Report 2000 is available; please e-mail [email protected] for a copy.