Province Invests in Innovative Companies

Thirty-five more Nova Scotia businesses are working with universities and colleges to increase their productivity and be more innovative. And six past recipients have been offered the opportunity to build on their success with the Productivity and Innovation Voucher Program.

"Innovative businesses are critical to Nova Scotia's economic prosperity and we are committed to supporting their growth," said Percy Paris, Minister of Economic and Rural Development and Tourism. "Through jobsHere, the plan to grow our economy, this program helps local companies become more productive, innovative, and competitive."

The small businesses were each awarded $15,000 to access expertise at Nova Scotia's post-secondary institutions and help grow their companies. The vouchers will be used to explore new business opportunities, improve existing products, and refine operations.

A new pilot voucher will help previous recipients build on the successful results of their initial voucher-supported activity. Six past recipients will each receive a $25,000 voucher to continue working with a university or college. Applications for this pilot program are being reviewed and recipients will be announced by the end of December.

"We know that continued innovation and progress requires significant investment," said Mr. Paris. "That's why we've ramped up this program to provide past recipients that demonstrate success and significant progress in their projects an additional voucher."

Since 2008, the program has awarded vouchers to 152 businesses throughout the province. These businesses cover a range of sectors, including industrial and consumer manufacturing, information and communication technologies, life sciences and agri-foods.

"Through the Productivity and Innovation Voucher program, we will partner with Acadia University to determine the market potential for a new sparkling wine, said Jean Benoit Deslauriers, winemaker, Benjamin Bridge Vineyard. "This is an important program for small businesses in Nova Scotia, and we hope all businesses invest in research to create innovative, value-added products."

A core objective of the program is to help build and strengthen links between small business and universities and colleges. Ten institutions are participating in the program this year.

"The Nova Scotia Agricultural College is very proud to be part of the voucher program, it's a win-win situation for both the university and the business," said vice president of Research, Extension and Outreach, Richard Donald. "Innovative, problem-solving research is critical to the future sustainability of the industry and has a direct impact on our local economy."

For a full list of this year's recipients and more information on the program visit www.gov.ns.ca/econ/pnivouchers/ .