Halifax-based innovation hub Volta has announced that five early-stage startups will each receive $25,000 and join the fall 2020 Volta Cohort program.
Volta serves as an innovation hub for Canada’s East Coast. The five companies, Granville Biomedical, MICC Financial, Pocket Finance, Smooth Meal Prep, and Swiftsure Innovations, were selected at the semi-annual Volta Cohort Pitch Competitions held on November 25.
Established in 2013, Volta houses more than 45 tech-based ventures, four innovation outposts, and six service and community partners, which collectively employ more than 400 people. The Volta Cohort program was founded in 2017 and since that time Volta claims that cohort companies have raised more than $9 million in combined investments, more than $3,900,000 in grants, and hired more than 100 full-time employees.
“Almost 30 companies have participated in [Volta Cohort] to date and most have achieved national and global success, so we are excited to work with and support these founders as they take their early-stage startups to the next level,” said Meghann Coleman, vice president of programs and partnerships at Volta.
Coleman served as a judge for the pitch competition. “Volta Cohort Pitch Competitions continue to prove that there is no shortage of big ideas and innovative thinking in Atlantic Canada,” she said. “The calibre of companies and the significant impact they intend to make on various industries and sectors is incredibly impressive and rewarding to be part of.”
Of the startups selected in this intake of the Volta Cohort, two specialize in healthtech, two in FinTech, and one in meal delivery service. St. John’s-based Granville Biomedical operates in women’s healthtech, specializing in the design of anatomical models to enhance health care training, advance patient education, and innovate device demonstration. Swiftsure Innovations, out of Dartmouth, N.L., is focused on developing products for frontline workers, patients, and healthcare institutions.
In the FinTech space, Charlottetown-based MICC Financial operates a platform that assists in accessing capital and building credit, while Halifax-based Pocket Finance offers a personal financial management mobile application designed to improve financial literacy. Smooth Meal Prep, based in Dartmouth, N.S., delivers fitness-focused meals to community members.
Partners of Volta Cohort include the Atlantic Canada Opportunity Agency, BDC Capital, and Innovacorp, with two cohorts selected each year in the spring and fall. The funding for each $25,000 award is provided through a micro-fund co-founded by the partners.