Province Announces New Funding for Propel ICT

Government is investing $1 million into Propel ICT to help increase technology startups and support entrepreneurs throughout the province.

Susan Corkum-Greek, Minister of Economic Development announced the funding today, May 16, at one of Propel’s client companies, Frenter in Halifax.

“Our province’s economic success will be determined by how well we foster a culture of innovation, sustainability and entrepreneurship,” said Minister Corkum-Greek. “Propel has done a tremendous job accelerating tech startup growth throughout 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 agreement, at $350,000 per year. Propel is a private sector-led non-profit that mentors technology startups throughout Atlantic Canada by helping 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 that we are seeing coming through our program is a testament to the support system and resources that are here for founders to access, no matter what the stage of their company. 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 create capacity for our Nova Scotia companies to succeed.”

– Kathryn Lockhart, CEO, Propel

“As a Nova Scotian Propel alumni, I am grateful for the guidance I received as I’ve navigated the entrepreneurship journey. There is not only a lot to learn about developing a technology, but also plenty to understand about customer validation, marketing, recruitment and fundraising. My coach and the experts I met through the Propel program were invaluable.”

– Zach Laberge, CEO & Founder, Frenter

Quick Facts:

• Propel was founded in 2003 and provides services throughout all four Atlantic provinces
• it admits approximately 110 companies into its programs across the Atlantic region each year
• in 2022, it admitted 37 companies in Nova Scotia into its programs
• the three-year agreement started on April 1, 2023