Dalhousie is partnering academic institutions Acadia and NSCAD to launch IdeaHub incubator with the support of a $7m investment from energy provider Emera.
Dalhousie University will launch an advanced engineering accelerator called IdeaHub at its campus in Halifax, Canada, in 2018, which will be supported by a C$10m ($7m) investment from energy provider Emera.
IdeaHub’s founding partners also include academic institutions Acadia University and NSCAD University; venture capital firm Build Ventures; Innovacorp, an early-stage fund created by the province of Nova Scotia; local startup incubator Volta Labs; and corporates Clearwater Seafoods and diversified holding company Micco Companies.
Clearwater Seafoods co-founders John Risley and Colin MacDonald joined MacDonald’s brother and fellow entrepreneur Mickey MacDonald in committing C$2.5 million to the project. Dalhousie is continuing to raise funds for the project, drawing on the support of alumni, donors and industry partners.
The purpose of IdeaHub is to promote entrepreneurship in the Atlantic Canada region and support innovative companies in the region through partnerships, collaboration and an accelerator space.
The space will form part of the Idea Project, a C$64 million investment in Dalhousie’s campus that includes a C$32 million contribution from the Government of Canada.
Recent graduates and entrepreneurs with a successful track record will mentor and support Dalhousie students and startups participating in ideaHub as they work to commercialise their technology-based products.
IdeaHub aims to play a role in meeting key goals outlined in a 2014 report by the Nova Scotia Commission on Building Our New Economy, an independent body chaired by Ray Ivany, president of Arcadia University.
The report’s goals include increasing startups in the province, reducing youth unemployment, improving venture capital investment and doubling business enterprise and university research and development partnerships.
Richard Florizone, president of Dalhousie University, said: “With this project we are equipping our students with the space they have been asking for and the creative and entrepreneurial skills that they want and need for the future.
“That, in turn, creates a richer educational experience for our students, better engineers and architects, more startup companies and better support for industry.”
– Photo of the Sexton campus in downtown Halifax, home to the Faculty of Engineering, courtesy of Dalhousie University.
