Halifax-based innovation hub Volta has announced that five early-stage Atlantic-Canadian startups will join its fall 2021 cohort program.
The companies will each receive $25,000 from a fund Volta, BDC Capital and Innovacor co-founded, along with mentorship from experienced entrepreneurs, and resources to help grow their businesses. The Atlantic Canada Opportunities Agency supports the Volta Cohort program.
The list of winning startups includes Amp Health, Hollo Medical, MOC Biotechnologies, Myomar Molecular Inc., and Parados.
Volta serves as an innovation hub for Canada’s East Coast. The cohort members were selected at the virtual Volta Cohort Pitch Event.
The following companies are participating: Amp Health, based in St. John’s, NL, hopes to prevent 10 million people from developing chronic disease with their first product, an app which uses unique behavior change techniques and machine learning to help prevent diabetes in pre-diabetics.
Halifax-based Hollo Medical is developing a new holding chamber that makes inhalers less cumbersome and easier to carry around.
MOC Biotechnologies, also based in Halifax, offers hybrid bioprinting technologies to clone hard and soft implants, scaffolds, tissues and organs. Their technology will be available to pharmaceutical companies, research centres, universities, laboratories and institutes.
Halifax-based Myomar Molecular Inc, is developing a diagnostic tool that will help identify early stage muscle atrophy.
Parados, based in Fredericton, provides members of high-performance athletics and military organizations with the tools to help them reach and maintain their cognitive potential through the use of predictive analytics based on the biometric profile they build for their users.
Altogether, fourteen Atlantic Canadian startup founders pitched their businesses to a panel of judges from the region’s tech and startup community, as well as representatives from ACOA, BDC, Innovacorp and Volta.
Since the Volta Cohort program began in 2017, Volta Cohort companies have raised more than $20 million in secured investments, and received over $8 million in grants. Volta Cohort recipients are currently employing 175 full-time staff members and have earned a combined revenue of approximately $1.5 million so far in 2021, according to Volta.
Volta claimed its cohort program has created more than 300 jobs and raised a combined total of over $100 million in equity financing.
“Atlantic Canada is a region for innovation, entrepreneurial talent and big ideas, and the Volta Cohort Pitch Competitions continue to show that,” said Volta CEO Martha Casey.
CORRECTION 01/12/2021: This article previously incorrectly spelled Myomar Molecular Inc. That has since been updated.
With files from Cameron Chaddad.
Feature image courtesy of Volta.