2017-18 Departmental Results Report - results at a glance
|Total actual spending
|Total actual full time equivalents
In 2017-18, the Atlantic Canada Opportunities Agency (ACOA) invested in strategic projects across Atlantic Canada in support of Canada’s Innovation and Skills Plan, the Investing in Regional Innovation and Development framework, and the Atlantic Growth Strategy. Priority initiatives included the following:
- ACOA invested over $227 million in 790 projects to support innovation and growth of small and medium-sized enterprises (SMEs) in Atlantic Canada. As part of these efforts, the Agency supported 54 high-growth firms, signed up 29 new firms in the Accelerated Growth Service and provided over $7.6 million to support the work of accelerators and incubators. ACOA also focused on the development and adoption of clean technologies in the Atlantic region, which led to an investment of approximately $36 million to help accelerate the region’s transition to a cleaner, low-carbon economy. Examples of ACOA’s support for enterprise development include:
- Maison BeauSoleil, from New Brunswick, developed a one-of-a-kind automated system that sorts, counts and boxes oysters. This unique automated production line will not only enhance productivity but also help improve product sustainability and food safety.
- Volta Labs, from Nova Scotia, strengthened the technology ecosystem in Atlantic Canada through mentorship and community-driven support. Volta Labs’ programs included Women Taking Over The World With Tech, and Volta Cohort, a collaboration with ACOA, the Business Development Bank of Canada and Innovacorp to help early-stage, high-calibre companies from across Atlantic Canada attract and secure investment.
- Seaformatics, a clean technology company from Newfoundland and Labrador, worked to advance and commercialize its new microturbine-charging device. Seaformatics aims to sell a suite of turbine products and systems that allow its customers to harness renewable energy in the form of flowing water and wind to recharge stand-alone devices.
- ACOA fostered sustainable and inclusive growth by investing more than $98 million in 420 projects to help develop and diversify communities. The Agency supported various Indigenous economic development priorities, developed strategic partnerships in support of immigration and fostered talent attraction and retention in the region. Examples of ACOA’s support for community development include:
- Abegweit Conservation Society (ACS), an Indigenous-owned business from Prince Edward Island, converted its existing facility from a flow-through system to a recirculating aquaculture system. The new system reduces the need for fresh, clean water and decreases the waste discharge while maintaining a healthy environment, thus contributing to ACS’s overarching goal of reducing the ecological footprint of the facility.
- EduNova, from Nova Scotia, implemented Study and Stay, an international student retention pilot project, which should be extended to include all four Atlantic provinces. This project provided targeted services and support to 50 graduating international university students to enable them to live and work in Nova Scotia after their graduation.
- Éveil PME was a two-day forum held in New Brunswick and attended by 200 Francophone post-secondary students from all four Atlantic provinces, including international students. The forum was hosted by a consortium of official language minority community organizations involved in economic development. It received a high approval rating from participants. Éveil PME promoted entrepreneurship as a viable career choice. It also supported succession planning for businesses and provided knowledge, tools and networking opportunities for participants wishing to start their own businesses.
- The Agency capitalized on key opportunities to strengthen Atlantic Canada’s economy by leveraging regional competitive advantages, engaging stakeholders and advancing the region’s interests in national policy and program development. For example:
- ACOA led priority initiatives aligned with the Atlantic Growth Strategy pillars and collaborated with other federal departments and provincial governments to deliver Atlantic Growth Strategy activities. The Agency continued implementing the $20 million Atlantic Trade and Investment Growth Agreement to support export development, as well as the $24.5 million Atlantic Canada Agreement on Tourism to help businesses and tourism operators expand. The Agency also led the preparation of key reports, such as the Year 1 Results Report to Atlantic Canadians and the response to the Atlantic Growth Advisory Group Report.
- The Agency positioned and promoted regional industries, leveraging opportunities through industrial technological benefits (ITB). It helped secure approximately $484 million in ITB commitments for Atlantic Canada.
- ACOA has identified regional priority files on which to focus its efforts in the region: advanced manufacturing, clean growth, agri-food, immigration, Indigenous economic development, access to national programs, oceans, and start-ups.
For more information on the department’s plans, priorities and results achieved, see the “Results: what we achieved” section of this report.
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