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Federal Government Commits $4.2 to Rural Innovation in Nova Scotia

The Atlantic Canada Opportunities Agency is spending $4.2 million to encourage rural innovation across Nova Scotia.

Fisheries Minister and South Shore-St. Margarets MP Bernadette Jordan says ACOA will contribute almost $960,000 to the Nova Scotia Association of Community Business Development Corporations for a Spark Innovation Challenge over the next two years. The program will offer early-stage seed financing for new technology start-ups in rural areas of the province. There will be mentorship, resources and financing provided to winning businesses.

ACOA is also providing $3.3 million to the province’s network of Community Business Development Corporations to cover operating costs related to the delivery of the Community Futures Program, which provides small business loans, tools, training and events to people who want to start, expand, franchise or sell a business.

Two local CBDC’s will receive funding. Northern Opportunities for Business Limited will get more than $379,000, while the Guysborough County CBDC is being presented with more than $303,000.