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MOBILE & TELECOMMUNICATIONS | Mobile Software & Services / Healthcare
bluelightanalytics.com

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Founded Year

2009

Stage

Series A | Alive

Total Raised

$2.26M

Last Raised

$2.26M | 3 yrs ago

About BlueLight Analytics

BlueLight Analytics develops technologies to improve light curing in dentistry and advance value-based dental care.

BlueLight Analytics Headquarter Location

24-2625 Joseph Howe Dr

Halifax, Nova Scotia, B3L 4G4,

Canada

+1 (902) 407-4242

Latest BlueLight Analytics News

Deacon Says ‘Privatize Innovacorp’

Aug 5, 2021

Sen. Colin Deacon Colin Deacon, the Halifax startup founder turned senator, says Nova Scotia should privatize its venture capital Crown corporation Innovacorp  and instead become a limited partner in a basket of private-sector VC funds. Deacon co-founded BlueLight Analytics in 2009 and was appointed to the senate in June, 2018, where he now serves on the standing committee for banking, trade and commerce. Deacon’s privatization comments came in response to reporting by Entrevestor that Innovacorp's investments are performing so well it hopes to self-finance its operations going forward. He posted on Twitter that now “would be a great time to privatize it” and later detailed his proposal in an interview. “I have a very strong view that the role of government is to catalyze the private sector, not compete with the private sector,” he said. “And so, where there is already an industry in place that can deliver that service, [government should] add to it as an investor. I strongly believe government has a role as a limited partner, but not as a general partner.” Deacon spent nearly a decade running BlueLight, which sold equipment for testing the strength of the specialized lights dentists use to cure resin fillings. Under his leadership, the company inked sales and distribution deals with several large medtech companies and continues to sell its checkMARC technology under a partnership with materials giant 3M that was finalized shortly after Deacon left the business. Innovacorp has historically received funding from the Nova Scotia government about every five years, but last week, Vice President of Investment Andrew Ray said the fund’s portfolio has performed so well that no more government backing is likely to be necessary. Innovacorp runs an “evergeen” fund, meaning it reinvests its profits, rather than returning them to shareholders. Deacon said he believes the concept of Innovacorp is fundamentally flawed because Crown corporations are not necessarily subject to market forces in the same way that private companies are, meaning capital might be allocated less efficiently than it would be at a private fund. He also sees a mismatch between the experiences of Innovacorp execs and the founders they back. “In a startup company, you’re putting everything on the line,” he said. “You don’t have a pension, you don’t have a secure employer, you don’t have a secure job, you don’t have benefits. You’ve got everything on the line. “And the person judging your investment doesn’t. They’ve got a secure government job. They’re well paid, they’re reliably paid, they’ve got benefits and a pension. It’s very different than knocking on the door of a venture capitalist who’s got everything on the line and their own money in the fund.” From an economic perspective, Deacon considers Innovacorp’s dominance in the province’s venture capital landscape to be problematic because it reduces founders’ options for seeking funding. “A smaller market is not helping,” he said. “It's not optimal for startups. Companies... if they've only got one door to walk to and knock on, it’s game over if they’re not successful. “But if they’ve got four or five competitors who are all looking at the same sorts of investments, you can screw up on one and you’ve still got another door or two to knock on.” In lieu of a Crown business like Innovacorp, Deacon suggested that the government invest, for example, $20 million every five years in private sector VC funds with the stipulation that the money be spent exclusively in Nova Scotia. That pace of investment roughly mirrors the rate at which Innovacorp has historically received government funding. “I think the provincial government should invest annually an amount of money to focus on places in the funding spectrum where they need to catalyze more availability of capital -- be it in a certain sector... or they make an investment in a certain fund that’s going to focus on a stage, as they did with helping be the backbone of [early-stage VC firm] Concrete Ventures ,” said Deacon. Deacon was referring to the fact that the Nova Scotia government already acts as a limited partner in Concrete Ventures, as well as Build Ventures and the female-focused Sandpiper Ventures . “Keep going!” he said in a direct message on Twitter. “Stop being a GP [general partner] and keep encouraging the development of existing or growth of new funds by being an active LP [limited partner].”

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The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Expert Collections containing BlueLight Analytics

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

BlueLight Analytics is included in 2 Expert Collections, including Dental Health.

D

Dental Health

957 items

Companies delivering dental care products and services. Excludes practice networks.

D

Digital Health

10,285 items

Companies using/incorporating digital tech into health, wellness, and life science offerings. Includes cos operating within the hc, consumer health, and life science industries + tech vendors catering to them. Excludes cos exclusively focused on fitness/sports & performance

BlueLight Analytics Patents

BlueLight Analytics has filed 2 patents.

The 3 most popular patent topics include:

  • Biomaterials
  • Dental materials
  • Dentistry
patents chart

Application Date

Grant Date

Title

Related Topics

Status

10/2/2018

10/27/2020

Lighting, Light sources, Eyewear, Eyewear brands, Spectroscopy

Grant

00/00/0000

00/00/0000

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Application Date

10/2/2018

00/00/0000

Grant Date

10/27/2020

00/00/0000

Title

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Related Topics

Lighting, Light sources, Eyewear, Eyewear brands, Spectroscopy

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Status

Grant

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BlueLight Analytics Web Traffic

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Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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