Staying ahead in a competitive business landscape

From: Atlantic Canada Opportunities Agency

Experimental project links established businesses with community of innovators

January 16, 2019 – Halifax, NS – Atlantic Canada Opportunities Agency

In today’s world, large well-established businesses that accept and embrace the opportunity to innovate are better able to compete in a rapidly changing business landscape. This is why the Government of Canada is supporting a strategic program that will link established businesses with a community of innovators.

A pilot program offered through innovation hub Volta will equip corporations with the knowledge and skills needed to adopt innovative mindsets and methodologies that lead to culture change and new product breakthroughs. The new programming, delivered in part through a new Accenture Innovation Outpost, places traditional business leaders in a startup environment where they can learn and develop alongside innovative entrepreneurs and experts.

Andy Fillmore, Parliamentary Secretary to the Minister of Canadian Heritage and Multiculturalism and Member of Parliament for Halifax, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), announced a non-repayable contribution of $400,000 to Volta Labs Incorporated to run the one year pilot program.

The Government of Canada is making smart investments that will create good, middle-class jobs in our country. It is helping small and medium-sized businesses to start-up, expand or modernize and supporting not-for-profit organizations to fuel business growth. Support for this project is one way the Government of Canada is working to achieve its Atlantic Growth Strategy outcome of long-term economic prosperity in the region.

“The world is becoming a more competitive place. Fresh perspectives are required to withstand pressures of a dramatically altered business landscape. Innovation driven entrepreneurs working in high-growth startup companies can help more established businesses test new ideas and new ways of working. This mutually beneficial partnership can stimulate economic growth, create jobs, and foster long-term prosperity.”

– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA

“Innovation can be difficult, especially within a large, well-established business where there may be obstacles to change. Businesses that immerse themselves in a culture of innovation can discover and test out-of-the-box thinking in a safe environment before implementing new ways of working within existing business models.”

– Andy Fillmore, Parliamentary Secretary to the Minister of Canadian Heritage and Multiculturalism and Member of Parliament for Halifax

“Volta is the ideal place for startups and more established companies to come together and learn from each other. This funding will help Volta attract more corporate partners, strengthening the Volta community and facilitating more collaboration in the private sector.”

– Kenneth Deveau, Chair of the Board, Invest Nova Scotia

“Being at the forefront of innovation is imperative to grow in the ever-changing digital economy. Companies that embrace innovation and harness the power of disruption are better positioned for long-term growth. Accenture is pleased to deliver a curriculum presenting new, innovative ways of thinking to guide Atlantic Canadian companies on their innovation journey and solve their most significant challenges.”

– Claudia Thompson, Managing Director, Health & Public Service, Accenture

“Programs that foster relationships between large companies and growing startups are crucial to bolstering the region’s global competitiveness. Strengthening connections between corporations and startups will not only lead to new ideas and product developments but also further establish the region as a global destination for innovation.”

– Jesse Rogers, CEO, Volta Labs Incorporated

Quick facts

  • The Government of Canada is investing $400,000 in this project through ACOA’s Business Development Program (BDP).

  • The corporate innovation curriculum will be provided by Accenture, a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations.

  • Invest Nova Scotia, a provincial fund, has invested $2 million in corporate innovation space and programming at Volta.

  • Volta – Canada’s East Coast Innovation Hub – tripled in size to 60,000 square feet last year and is now home to 40 startups and three Innovation Outposts that employ more than 200 people.

  • The Business Development Program continues to build on the objectives of the Innovation and Skills Plan, a multi-year strategy to create well-paying jobs for the middle class and those working hard to join it.

/Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here.