Volta Labs, a Halifax-based incubator that provides mentorship and resources for growth for the local startup community, has received $500,000 from the federal government.
According to a report from Entrevestor, the incubator received the funding through the Atlantic Canada Opportunities Agency Business Development program, which helps small and medium-sized enterprises by providing access to capital in the form of interest-free repayable assistance. Since opening in 2013, Volta providing working space and acting as a local partner for Propel ICT, a regional accelerator.
Another Halifax-based company, b4checkin, received $244,000 through the same program.
“One of the most effective ways to help Canadian businesses grow, innovate and succeed is to make strategic investments that build on competitive advantages,” said Minister of Innovation, Science and Economic Development minister Navdeep Bains. Bains is also responsible for the ACOA program. “The businesses and organizations we are investing in today illustrate a commitment to excellence and to innovative practices that help set them apart in the marketplace.”