Scale-up Hub Cambridge will help drive high-value export sales
Atlantic Canadian SMEs will build on Nova Scotia pilot to access New England innovation hub
December 7, 2018 – Moncton, NB – Atlantic Canada Opportunities Agency
Timely access to the right resources is key to catapulting Atlantic Canadian high-growth potential firms into new and lucrative markets, increasing high-value export sales and creating well-paying high-tech jobs here at home. That’s why the Government of Canada is supporting an initiative that will see Atlantic Canadian technology firms develop strategic alliances and partnerships in one of the United States’ most successful innovation scale-up clusters located in and around Boston, Massachusetts.
Over the span of twelve months, eight export-ready technology companies from Atlantic Canada will receive individualized in-market support to increase export sales in New England. Services will include guided sales coaching, high-value pre-qualified leads, highly focused support services and market planning, all geared to drive export sales and build capacity.
The project is based on the Scale-up Hub Cambridge pilot developed last year by Nova Scotia Business Inc. (NSBI), which revealed that in-market deployment is key to building productive partnerships and driving export sales, particularly when selling technical solutions in a complex and innovative market.
The Atlantic Canada Opportunities Agency (ACOA) is providing up to $280,500 under its Business Development Program to kick-start the project; participating companies will each contribute $10,000 towards costs. Nova Scotia Business Inc. will share the knowledge gained through its pilot and will lead the project on behalf of the Atlantic Information and Communications Technology (ICT) Sector Export Team.
This project aligns with the Trade and Investment priority of the Atlantic Growth Strategy, which coordinates federal and provincial government resources and activities to support Atlantic Canadian companies looking to grow by selling their products and services in markets around the world.
“The Government of Canada, through ACOA, works with organizations such as NSBI to create opportunities for economic growth in Atlantic Canada by helping businesses become more competitive, innovative and productive. NSBI’s scale-up pilot showed value and generated results in Nova Scotia, and I am pleased that the Atlantic Canada ICT Sector Export Team is expanding this opportunity to other innovative Atlantic Canadian exporters.”
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
“I'm pleased to see Nova Scotian and Atlantic Canadian companies with the opportunity to increase export sales through this program. It's a great example of how we are actively and strategically collaborating with our federal and Atlantic partners for an internationally competitive regional economy.”
- The Honourable Stephen McNeil, Premier of Nova Scotia
The ICT Sector Export Team will recruit and qualify companies based on program criteria.
New England, and Boston in particular, boast strong business and cultural connections to Atlantic Canada. These connections are key to help pave the way for Atlantic Canadian companies to enter the lucrative New England market.
The state of Massachusetts boasts 114 universities and colleges, including the Massachusetts Institute of Technology, Harvard University, and Tufts University. The state is home to 10 of the largest global pharmaceutical companies and has the highest concentration of biotechnology companies in the world with more than 400 medical device companies.
Massachusetts is the second largest venture capital hub in the United States and has the 12th largest economy in the world at $360 billion.
Senior Communications Officer
Atlantic Canada Opportunities Agency
Media Relations Advisor
Nova Scotia Business Inc.
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