Two South Shore tech companies win funding competition

A couple of South Shore companies will receive funds to help develop their products.

Deep Cryogenics International of Blandford, and Sedna Technologies of West Dublin have respectively won $45,000 and $50,000 in Innovacorp's 2018 Spark Innovation Challenge.

Deep Cryogenics is using technology to reduce wear and corrosion on industrial, oil, gas, aerospace and marine items through the use of a cold thermal process.

Sedna is offering solutions to reduce waste, mortality and product-integrity issues in the global seafood supply chain.

The challenge is a province-wide competition for new technology companies.

The 2018 Spark Innovation Challenge attracted 122 submissions from across the province. Finalists in the four competition areas, Spark Halifax, Spark West, Spark North and Spark Cape Breton, pitched their ideas to a panel of judges.

Finalists also participated in several business workshops and received one-on-one financial advice. Fifteen new companies are receiving funding and additional support through this year's challenge.

Winners must use the prize money to build prototypes or take new products and services to market.

The Government of Nova Scotia and the Atlantic Canada Opportunities Agency (ACOA) each contributed $350,000 towards this year's Spark Innovation Challenge. The province's contribution is through Innovacorp and the Government of Canada's non-repayable contribution is through ACOA's Business Development Program.

"Spark is a great program that's really helping new technology companies, across Nova Scotia, get started," said Hugh MacKay MLA for Chester-St. Margaret's on behalf of Geoff MacLellan, Minister of Business and Minister responsible for Innovacorp.

"The winners of this year's Spark Challenge will receive the funding and guidance they need to build strong companies, drive innovation, grow our economy and create jobs for other Nova Scotians."

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