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shoplaw.ca

Stage

Seed | Alive

Total Raised

$60K

Last Raised

$60K | 3 yrs ago

About ShopLaw

ShopLaw is a community of Atlantic Canadian lawyers that provides tools to find lawyer and get free answers to legal questions.

ShopLaw Headquarter Location

Canada

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Latest ShopLaw News

The Task of Finding a Co-Founder

Aug 18, 2017

by Carol Moreira | Aug 18, 2017 Randy Campbell: 'It's all about resiliency.' Finding the right co-founders to grow a startup is often a challenge. So entrepreneur Randy Campbell has launched ShopLaw , an online platform that helps people find a lawyer to meet their needs and budget. The serial entrepreneur has spent two years researching the market for his Fredericton-based business and trying to bring consumers and lawyers onto ShopLaw’s platform. Now he is using that validation to attract co-founders. It’s different from hiring employees. Campbell is looking for people to become part of the business and have a greater exposure to its risks and rewards. “It’s very challenging,” he says of the process. “When I started ShopLaw I was advised to validate my idea. The more evidence you have that this can work, the better. Talented people have opportunities thrown at them all time. They don’t want to work on something that isn’t of benefit.” He set out to find five co-founders with different technical skills and positive but realistic expectations. “It’s all about resiliency, which means being able to adapt and respond quickly and effectively to changing circumstances,” he said. “You’ll likely find that many of your assumptions may not be true. You may find the economics of the business demand you excel in tasks you are not prepared to excel in. It’s critical to have someone that can focus on overcoming that barrier.” To spread the word, he relied on his network and launched a co-founder recruitment webpage at randycampbell.ca. He posted on relevant websites such as AngelList, Founder2be and reddit.com. He’s currently working on trial projects with three potential co-founders and is looking for a chief technology officer and a senior salesperson. Campbell has learned from his earlier experience as a co-founder of YouMeal.ca, founded in his native Charlottetown. That startup set out to deliver healthy meals to busy families. “We started with a designer, a programmer, a business strategist, and partnered with a chef,” Campbell said. “After a few months we had 400 families on our waiting list . . . Soon we realized that the core competency of the business was delivery “We learned the business required technical skills in optimizing delivery routes and reducing delivery cost. “ The website technology wasn’t complicated. We didn’t need to have over half our equity stuck in those technical skills . . .” Before studying business and law — he has an MBA from University of New Brunswick and is currently an articled clerk at Cox & Palmer in Charlottetown — Campbell taught outdoor leadership and led wilderness therapy expeditions. Those experiences taught him about teams and the common problems that arise. These include leaders not appreciating the work of team members and not communicating expectations clearly. Like good co-founders, a good team boosts resiliency and creates accountability, he said. “They’re there to tell you if you aren’t doing what needs to be done in the short term. :In the long term, it’s only the client’s voice that matters, but their voice is hard to hear sometimes.” Campbell believes the Canadian market is ripe for a business such as ShopLaw, which aims to improve access to justice, which he says is hindered by a lack of transparency around legal costs and services. Ventures like ShopLaw are few in Canada, he said, although the market for online legal services is competitive in the U.S. and elsewhere. “There are many people who are not accessing the legal services they need or desire because the shopping experience is too onerous,” he said. “Typically, people shop for legal services at a stressful time. Any barrier can be the end of the road. People may live without making a divorce official or without a will, resulting in family turmoil, or without a proper business agreement, leading to conflict.” So far, Campbell has bootstrapped his venture with his own funds and loans from sources such as the Business Development Bank of Canada, Futurpreneur and the Community Business Development Corporation organization. He is currently seeking investment. Growing as Social Ventures Increase by Peter Moreira | Aug 17, 2017 | 2 As the social entrepreneurship movement gains momentum, Common Good Solutions of Halifax is keeping pace and growing its business locally and internationally. The company is dedicated to working with a range of stakeholders to nurture businesses that are committed to a triple bottom line, or what’s known as the three Ps — people, planet and profit. The idea is spreading that modern capitalism needs to do more for society than simply reward shareholders, and Common Good Solutions is profiting from the movement. The company now employs 21 people and in May it launched the Social Enterprise Institute, an online tool that provides training in how to create and grow ethical businesses. Common Good Solutions provides a range of services, from consulting work to advocacy, and its wingspan is lengthening each year. “We’re in the early days of (the movement) — at the dawn of it, really,” said David Upton, the CEO of the company. “This is going to be one of the themes of the century. Everyone talks about the risks and rewards of business, but we need a third category — the ethical return of a business.” Upton was speaking in an interview in the boardroom of the company’s headquarters in downtown Halifax — a space it has now outgrown and will soon forsake for larger premises. Common Good Solutions has come a long way since Upton and co-founder Andy Horsnell launched it in 2012 — the year that Nova Scotia passed legislation enabling “community interest companies,” which are for-profit companies established to support social goals. CarbonCure's Tech Used in California High-Speed Rail Project It’s difficult to pinpoint what Common Good Solutions does because it does so many things. It’s an incubator that nurtures triple-bottom-line businesses, and it does some policy work, advising government and others on the development of the ethical business ecosystem. Specializing in social financing, it works across the spectrum of purpose driven organizations — from not-for-profits, to social enterprises, to corporations that embrace corporate social responsibility. “We exist to build the capital of organizations that exist to deliver social value through entrepreneurship,” said Upton. As the first Atlantic Canadian company to win a B Corp certification, Common Good Solutions reflects its social mission in its own operations. Its 21 employees include 11 women. About a fifth are from visible minorities and four-fifths are under 30. Everyone is paid at least a “living wage,” which amounts to $37,000 a year in Halifax. The group made one of its biggest moves ever this year when it launched the Social Enterprise Institute , a sister company with a library of social enterprise training seminars that can be purchased over the internet. The topics range from profit-focused lessons like successful Instagram marketing, to enhancing social or environmental impact through hiring people with disabilities. It now has clients in six countries and in four months has exceeded its first-year sales projections. The institute is one way that Common Good Solution can take its mission beyond Atlantic Canada. “We’re using the tools in Nova Scotia, but this is not our market,” said chief financial officer Mike Kennedy, who is also an Acadia University business professor. Referring to the company’s export potential, he added: “We’re on track to becoming the ideal Ivany Report business, and we didn’t even intend to do it.” PEI Launches Early-Stage Fund by Peter Moreira | Aug 15, 2017 Steve Nicolle: One of four investment directors at Island Capital Island Capital Partners, a new $4-million-plus investment fund, has launched to fund startups and add some investment power to the deepening startup ecosystem on Prince Edward Island,. The new early-stage investment fund will be managed by a committee of four business people, most with international business experience. They have received commitments of $2 million from the P.E.I. government and roughly the same amount from about 20 angel investors based on the island. The enthusiasm of the private investors may allow the team to increase the size of the fund to as much as $5 million. The founders said in an interview Monday that many of the private investors may also invest individually in some of the companies selected by the fund. Island Capital is coming about as the startup community on P.E.I. is adding depth and diversity. The Startup Zone has opened in downtown Charlottetown as a working and mentoring space for startups, and the life sciences sector (always a strength on the island) has been strengthened by the development of such support groups as EmerGence and Natural Products Canada. “There has been a perceptible buzz around Charlottetown in the last little while,” said Island Capital managing investment director Alex MacBeath, a former CEO of Grant Thornton Canada. “The Startup Zone was created about 16 months ago and now we have Island Capital. So there is a lot coming along at this time.” PEI's Startup Zone Admits Four New Teams The investment managers for the fund are: Ron Keefe , the former CEO of Charlottetown drug manufacturer BioVectra; Steve Nicolle, former CEO of Halifax-based STI Technologies; and Paul Lypaczewski, who has run several IT companies over the past 30 years. These four businessmen, who are not receiving a management fee, aim to invest about $200,000 to $400,000 in each company, meaning that the fund has the ability to back about 10-20 high-growth companies. The investment directors say they will invest only in companies that have high growth potential, and they will mentor the companies to position them to attract further rounds of investment. They would like to participate in follow-on rounds but admit they have limited funds so the later investment rounds will be led by other funds. Island Capital has already invested in Forestry.io, an IT company that went through TechStars New York last year. The Charlottetown fund is in discussions with five other companies and is tracking a total of 17 startups. Nicolle stressed that the fund is independent of government. “I would not be involved in this if the government was in any way running the fund and they’re not,” he said. “They’ve giving us complete autonomy.” The launch of the Island Capital Partners means that all four Atlantic Provinces now have funds supported by provincial governments to provide early-stage financing to startups. The New Brunswick Innovation Foundation and Nova Scotia’s Innvoacorp have been in operation for more than a decade. The Invest Newfoundland and Labrador fund, managed by Pelorus Venture Capital , was launched two years ago. The P.E.I. government has been studying how to provide funding to its startups, and has now backed Island Capital. The funding environment in the region should be further developed soon, as the Nova Scotia government is due to name who will set up a new venture capital fund based in Halifax. About half a dozen firms have applied to manage the fund, which will receive $25 million from the provincial government and is expected to attract capital from other sources. The Halifax-based fund will invest in and beyond Atlantic Canada. V4C Partners with McInnes Cooper by Peter Moreira | Aug 15, 2017 Venture for Canada , a not-for-profit organization that recruits, trains and supports recent graduates to work at leading Canadian startups, has announced a partnership with McInnes Cooper . Through this new partnership, McInnes Cooper will provide legal training to Venture for Canada fellows on employment issues and matters related to launching their own businesses. In addition, McInnes Cooper will host and sponsor a series of events and provide pro-bono legal services. “We are proud to partner with McInnes Cooper as Venture for Canada’s Atlantic Canadian Legal Partner,” Venture for Canada Executive Director Scott Stirrett said in a statement . “This partnership enables us to help more Atlantic Canada based startups gain the talent they need to grow, while strengthening the retention of entrepreneurial recent graduates in Atlantic Canada.” Venture for Canada’s work aligns with the federal and provincial governments’ Atlantic Growth Strategy, which emphasizes the need to “enhance the region’s capacity to develop, deploy and retain a skilled workforce” as well as to “foster greater business innovation by supporting the scaling up of small firms.” “McInnes Cooper is delighted to support Venture for Canada,” said Sandra Goodwin, McInnes Cooper’s Managing Director of Client Development. “We’re seeing more and more great startups in Atlantic Canada. Our lawyers are passionate about helping this sector grow, and Venture for Canada is an ideal partner to help boost the talented young people who will make it happen.” With rich ties to Atlantic Canada’s history, McInnes Cooper serves clients across North America and abroad from six offices in Halifax, St. John’s, Fredericton, Moncton, Saint John, and Charlottetown. The firm has more than 500 employees, including 200 lawyers. Venture for Canada Fellows spend two years working at a Canadian startup, in addition to a four-week Training Camp, and ongoing mentorship and professional coaching. Through the program, recent graduates gain the experience, network, and training to successfully launch their own firms. For the most recent cohort, more than 2200 Canadian youth applied for only 60 fellowships. CarbonCure in California Rail Project by Peter Moreira | Aug 14, 2017 Halifax-based CarbonCure Technologies has been selected to help produce environmentally friendly construction materials for the California High-Speed Rail project . The startup issued a press release Sunday saying that it has partnered with Outback Materials of Fresno, Calif., which will install CarbonCure’s technology at its Fresno plant. That means the plant will consume rather than emit waste carbon during the production of concrete for several projects, including the high-speed rail project. CarbonCure, which has raised almost $10 million in equity investment, has developed technology that injects carbon into concrete to strengthen it and reduce costs. Traditional concrete production produces huge amounts of carbon dioxide, but the CarbonCure method actually reduces CO2. The company began with a process for concrete blocks and last year launched a process to inject carbon into ready-mix concrete. “I think it’s important for this industry to align with California’s environmental commitments by adopting greener technologies,” Outback CEO Curtis Lovett said in the statement. “Partnering with CarbonCure is an essential piece in doing our part to improve air quality and preserve the environment.” Known as one of the most ambitious infrastructure projects under development in the U.S., the California High-Speed Rail project will be a 1300-kilometre rail link connecting the metropolitan areas of San Francisco and Los Angeles by 2029. That first phase of the project is expected to cost US$64 billion. In Phase II, the railway will be extended to Sacramento and San Diego. TruLeaf Launches Across the Maritimes Outback will supply nearly half a million cubic yards of concrete for the first sections of the project, part of a 29-mile segment connecting Madera and Fresno counties, in which there are 25 concrete structures. It will install CarbonCure’s technology in its Fresno plant to chemically sequester waste CO2 in the concrete during the manufacturing process. Outback said it has been dedicated to providing high-quality concrete from six local locations to California’s Central Valley for 50 years. This new equipment will improve not only the environmental impact of the concrete they produce, but the overall integrity of the material, as well. “This partnership solidifies Outback's commitment to help contribute to California’s environmental targets,” said the California company. "It is truly an honour for CarbonCure have the opportunity to partner with a great producer like Outback Materials and to partake in an infrastructure project with the magnitude of the California High-Speed Rail," said CarbonCure CEO Robert Niven. "If CarbonCure's technology were used to produce the concrete for the rest of the first construction package, spanning from Madera to Fresno, the carbon reductions would be equivalent to the amount of CO2 consumed by 3200 acres of American forest over a year." CarbonCure’s technology is now being used in a growing number of concrete plants across North America, including several of the world’s largest vertically integrated cement and concrete companies. The company is one of 27 semi-finalists in the $20 million NRG COSIA Carbon XPRIZE challenge, which has been called the Nobel Prize for climate technologies. Jobs of the week: Dash Hudson by Peter Moreira | Aug 14, 2017 Halifax-based Dash Hudson just keeps on hiring. Today, our Jobs of the Week column is featuring three Dash Hudson openings – for a front-end web developer, sales development representative and an account executive. Dash Hudson has created a “visual intelligence platform” that helps its corporate clients to create and distribute photos and video, then analyze their impact. The system is an integrated solution to predict, measure, and enhance engagement across all visual marketing channels. The company, which already has dozens of employees and offices in Halifax, New York and Miami, has been expanding rapidly. The Jobs of the Week column features openings posted on the Entrevestor Job Board , which focuses on jobs in technology, innovation and startups in Atlantic Canada. The Entrevestor Job Board helps match job openings and candidates in the tech and start-up communities and is operated by Entrevestor and Alongside . Halifax Sales Development Representative Dash Hudson is looking for a sales development representative, who will be a critical piece to the growth and development of Dash Hudson's sales process. He or she will manage a creative and customized outreach strategy to potential customers in verticals such as fashion, beauty, luxury, travel, food, publishing and consumer electronics. Through developing and maintaining the early stages of the sales pipeline, the successful candidate will contribute to the overall success of the sales team. The position carries three main responsibilities: first, managing lead generation; second, overseeing custom outreach process, and third, being responsible for performance and tracking. The company is looking for a super-organized individual with a desire to learn and improve processes, with strong written and verbal communication skills, and who is self-motivating. Account Executive The account executive will work with Dash Hudson’s sales team on the business development process, contributing to such tasks as lead generation, sales outreach, progress tracking and closing deals. He or she will engage with new and existing leads through creative outreach and follow-up communications. The duties include meeting monthly and quarterly sales quotas, reviewing and qualifying inbound leads, and managing CRM and sales pipeline. Dash Hudson is looking for someone with one to four years of experience in a similar role, and someone with analytical, business development, strategy, and sales skills. The successful candidate must be hyper-organized with equal parts diligent and creative. Front-End Web Developer Dash Hudson is looking for talented and motivated engineers across all levels of experience who can thrive in an independent and high pressure environment. The front-end web developer will influence the initial specs for new products and features, build and/or modify backend APIs, write front-end javascript code that consumes APIs. He or she will be responsible for ongoing improvements once the product is deployed. The ideal candidate will display an ability to learn and adapt, possess a problem-solving mentality and take a product-first approach to building software. The company is looking for someone with a bachelor's degree or a year or more of experience doing hands-on software development. Check out the job posting for the technical requirements. Muise Turns Anxiety Battle into Startup by Carol Moreira | Aug 11, 2017 Joel Muise Entrepreneur Joel Muise’s struggles with mental illness motivated him to found his startup, Tranquility Online . Now Muise is seeking participants to test his online service for treating anxiety. Muise is looking for 48 people who suffer from anxiety to help him test whether cognitive behavioural therapy (CBT) delivered online by a team of coaches is effective. Muise wants to use coaches rather than therapists because he believes coaches can be trained to help clients. Using coaches rather than therapists, as some similar sites do, will make the service more affordable. “Our program is based on CBT, which follows a simple, repetitive way of tackling anxiety and depression,” he said. “The challenge is getting people from the starting line to the finish line. There are lots of CBT books and apps but most people don’t finish. Our coaches will be trained in motivational interviewing and active listening to get clients to the finish line.” Muise established his online CBT business after a blog post, written in February 2015 about his struggle with generalized anxiety disorder and depression attracted attention. He realized there were many sufferers in need of help. “I’d always been a supporter of ending the stigma around mental health,” he said. “I’d always been open about my struggles but I’d never shared the entire story. “I thought, if I lay it out there people may judge me but at least I’ll be free from that burden . . . of wearing a mask. Analytics for the site told me that almost 4,000 people visited the post within 48 hours. The post got shared 63 times on Facebook.” Following the post he took a health coaching course and the idea for Tranquility began to form. Squiggle Park Downloads Jump 5600% Muise has recently taken his venture through Propel ICT’ s regional program for new startups. He also met his co-founder Rebecca Tucker, who is completing her doctorate in clinical psychology at Dalhousie University. Tucker has experience delivering CBT programs. Her interest in finding alternative ways to deliver mental health treatment arises from growing up in a rural area where she and others had difficulty accessing mental health care. Tucker’s mentor, Dr. Alissa Pencer, is Tranquility’s scientific advisor. By using coaches (most likely undergraduate psychology students) instead of therapists, Muise aims to keep charges to $99 for a month of one-on-one coaching, and $65 for group sessions. He said the pilot, which is free to participants, will be run with 16 people in three groups. One group will receive one-on-one coaching, another will receive group coaching, and the third, the control group, will use self-help materials with email guidance. Participants must be older than 18, have a computer with internet access and be able to commit to 10 weeks. Muise, now 30, suffered particularly severe anxiety and depression in Grade 12 while at high school near Yarmouth. He went on to train as a chartered financial analyst and worked for six years as a stock analyst for a Halifax investment company. But he didn’t thrive in that role and quit, suffering from burnout and depression. He wants his venture to provide timely and affordable help for anxiety sufferers. He said it can take six months to a year to get a referral to a psychologist in the public health system. Private patients pay around $175 for an hour of counselling and most insurance policies only provide for $500 of coverage annually, he said. So far, Muise has bootstrapped his venture, using his own money and prizes won from pitching contests. But he is interested in talking to potential investors. If all goes well, the service may launch by the end of the year. Muise plans to go on to tackle depression and other problems that CBT has been shown to lessen. Muise’s Tranquility blog and vlog can be accessed here: www.tranquilityonline.co/blog  and https://youtu.be/yZcfsFSTG0w . FAN Focuses on Biotech, Follow-Ons by Peter Moreira | Aug 10, 2017 Spring Loaded is one of the companies in which FAN members have made repeat investments. As it continues to fund young companies, the First Angel Network has developed an investment niche for the biomedical space and is showing an eagerness for repeat investments. FAN, as it is known, has been investing in Atlantic Canadian startups for 12 years, making it the dean of active investment groups. Its portfolio has included a couple of exits and a few failures. The group has sometimes been controversial, and a group of FAN investors is now suing the developer of King’s Wharf in Dartmouth. Through it all, the co-founding team of Ross Finlay and Brian Lowe has been arranging quarterly investments for their network of angels, as they have been for the past 48 quarters. The landscape has changed since FAN started, and the group concentrates more these days on life sciences companies or IT companies that have medical applications. Recent investments like Chinova Bioworks, Covina Biomedical and Spring Loaded bear this out. “It seems like our members gravitate toward those types of deals,” said Lowe in an interview last week. “Our members like to invest in biotechnology and medical devices. They seem to understand the sector well.” Springboard, IA Aim to Attract More Investors A look at the companies FAN has invested in shows the concentration in life sciences: Spring Loaded Technology , Dartmouth — Spring Loaded has recently launched the Levitation knee brace, which not only stabilizes the joint but also adds power to it. Chinova Bioworks , Fredericton — Chinova is using the multi-purpose compound chitosan in an anti-microbial agent, which it uses in a natural preservative in such foods as juices. Iron Apple International , Halifax — Iron Apple International provides food safety solutions to transportation companies throughout North America. Covina Biomedical, Halifax — Covina is commercializing a non-toxic bone cement that can be injected into the vertebrae of osteoporosis patients who have suffered a fracture. The company has said it raised $350,000 from FAN as part of a round with a target of $1 million. WellTrack , Fredericton — WellTrack is a product that helps organizations — especially universities — improve the mental health of their members, especially those suffering from stress, anxiety and depression. NB Biomatrix, Saint John — NB Biomatrix has developed Naqua-Pure, a liquid that uses nanotechnology to remove heavy metals and other pollutants from waste water. Spring Loaded Launches Levitation, Unveils Funding What’s interesting about the Spring Loaded funding is that it is the second time the knee-brace-maker has tapped FAN for funding. The company received funding from FAN and Innovacorp two years ago, then from Build Ventures last year and returned to FAN earlier this year. “FAN has been a long-term supporter of Spring Loaded,” said CEO Chris Cowper Smith in an email. “They are well organized and offer an efficient process for raising capital through their network. We had excellent uptake from FAN on our current offering and we look forward to working with them going forward.” Lowe and Finlay said the organization is interested in providing follow-on funding from its more successful portfolio companies. It has done return investment for Spring Loaded and Halifax-based Metamaterial Technologies Inc. , which recently announced an $8.3-million funding round that included contributions from FAN. Some of these companies are also raising money through the Wilmington Investor Network, a North Carolina group with whom FAN sometimes co-invests. Finlay noted that research by the Angel Research Institute of the United States shows that follow-on funding accounts for more than half the angel investment in the U.S. “We’ve been wondering if we should try to focus more on not chasing the shiny new object but on supporting the companies that are already in our portfolio,” he said. “We think that’s a good use of our capital.” Easing the Stress of Credit Cards by Cherise Letson, Huddle | Aug 10, 2017 Credit cards are scary. Not just when you have a large balance on them, but even the process of choosing one can bring overwhelming confusion to the point where stuffing all your money under a mattress doesn’t seem like such a bad idea after all. With so many options and with financial institutions pushing their own products, it’s easy to just take what you’re offered and deal with. But a new tool created by two Moncton entrepreneurs is hoping to change that. Credit Card Genius is a free website that allows anyone to easily compare Canadian credit cards based on fees, perks, interest rate and various rewards. Credit Card Genius is the brainchild of Stephen Weyman and his wife and co-founder Maria. Weyman has been running his other website, HowToSaveMoney.ca, since 2010 and has had a strong interest in credit cards, credit card rewards and credit card comparisons. . . . Pilot Project Aims to Attract Investors by Peter Moreira | Aug 09, 2017 Springboard Atlantic and Invest Atlantic have teamed up to launch a pilot project aimed at bringing more investment to Atlantic Canadian startups. The two organizations issued a statement on Tuesday saying they hope the pilot project called the Investment Opportunities Program will attract $500,000 in angel investment to four startups, with an average of $125,000 each. The goal will then be to grow the project to attract more funding. The Atlantic Canada Opportunities Agency has provided $104,000 in funding for the pilot project, which has been allocated through ACOA’s Business Development Program, which supports small and medium-sized enterprises. The long-term goal of the program is to increase early-stage funding for startups in Atlantic Canada. The number of new startups has been growing in recent years, and some observers worry that the pool of local angel capital is not keeping pace. The Investment Opportunities Program aims to correct this problem by working with high-potential companies to court investment from outside the region. Launchpad Alum UpFront Among Those Mulling ICO “This is an ongoing need in the region where we see so many startups created and needing early-stage support to validate their opportunity, then solid investment to get the opportunity built and scaled,” said Springboard Atlantic President and CEO Chris Mathis in the statement. “Part of our mandate is to support the building of the regional ecosystem and to help industry be competitive. This work should help increase investment in the Atlantic region and increase national awareness for our growing number of regional start-ups.” The pilot program will primarily focus on selecting 12 investment-ready startups, which will be trained and mentored on pitching to the investor group from outside the region. Springboard and Invest Atlantic said they will work hand-in-hand with collaborative regional investors to assemble an ex-pat investment group – that is, a group of investors with links to Atlantic Canada who now live outside the region. They will create a secure online portal to promote investment opportunities in Atlantic Canada, with an initial target of $500,000. The pilot program will include recruiting and training target companies, organizing a pitching mission to the Greater Toronto Area, and a follow-up evaluation for the 12 participating startups. NB's SomaDetect Courts Vermont Farmers “This whole initiative was born out of conversations led by [East Valley Ventures Founder] Gerry Pond and other prominent Atlantic investors at past Invest Atlantic events,” said Bob Williamson, President and CEO of Jameson Group and founder of Invest Atlantic. “Gerry and I have helped hold regional and ex-pat conversations on this need, and are happy to be working with Springboard Atlantic to pilot the idea.” Now 13 years old, Springboard Atlantic is a not-for-profit organization that promotes and coordinates the commercialization of research at Atlantic Canadian universities and colleges. The group has identified more than 30 startups coming from the Springboard network of public post-secondary institutions each year, with a record 82 in 2016. Invest Atlantic is a conference for Atlantic Canadian startups and investors, which has taken place each year since 2009. The 2017 Invest Atlantic conference will take place in St. John’s on Sept. 19 and 20. You can register for the conference here . Disclaimer: Springboard Atlantic and Invest Atlantic are both clients of Entrevestor. UpFront and Others Mulling ICOs by Peter Moreira | Aug 08, 2017 Conor Daly and Kyle Gardiner produced a “Say What?” moment when they presented their company UpFront at the LaunchPad Dal Demo Day last month and said they were planning an ICO. The Dalhousie business students said they weren’t seeking equity investment for the company, which uses blockchain to stop scalpers from jacking up ticket prices. They plan to finance it through an Initial Coin Offering in the autumn. ICOs have been in the news recently but it was the first time I’d heard of an Atlantic Canadian company proposing one. To understand what it means, we’ll have to explain the whole craze of blockchain, cryptocurrencies and the evolving regulatory environment surrounding ICOs. Blockchain is the technology that allows the issue of bitcoin and other cryptocurrencies — digital currencies that are “mined” over time as specialists unlock the encryption on this electronic money. Blockchain is a series of ledgers in which cryptocurrency transactions can be recorded. Because these ledgers are permanent and open, startups are finding a range of new uses for blockchain, such as state-of-the-art identity systems. UpFront, for example, plans to use blockchain in a ticket management system for concerts. Daly and Gardiner want to use blockchain to create an identity for each concertgoer, and the ticket would be added to a digital wallet attached to that identity. “Since the ticket can only exist on our platform, the promoter could place a price ceiling on the ticket,” said Daly. Adios price-gouging by scalpers. Over time, UpFront would provide promoters invaluable data about their audience. To finance the development of the system, the two Dal students are considering an ICO — a financing technique that blockchain-based companies around the world have used to raise more than $1 billion already in 2017. An ICO, or token sale, is a crowdfunding campaign in which people subscribe to cryptocurrency that a company will produce using its blockchain over time. Subscribers pay now for the right to own the cryptocurrency when it is mined. Some companies will mine their own currency, or tokens, which would include features that enhance the interaction between the company and its clients. Braveno Plans a Blockchain-based Financial Exchange Given the millions of dollars being raised by each ICO, there are a couple of blockchain-based startups in the region considering such a move. There’s UpFront and also Hypergive , a Halifax company whose blockchain-based system will improve the way people make donations to the homeless. “With the raising environment so hot right now in this space, if you have a venture for which it makes sense to raise via a token sale, the question becomes, why wouldn’t you?” said Hypergive co-founder Scott Burke. “The key things to navigate here are the structure of your sale and evolving guidance from securities regulators, and any emerging determinations on what is classified as a security.” That’s the rub right now. Regulators everywhere are wondering what to make of ICOs, and whether these companies are selling something they produce (a currency, which does not require regulation) or a company security or derivative, which would require regulation. Last month, the Securities and Securities Commission in the U.S. ruled that several digital tokens should fall under securities rules, and the Ontario Securities Commission in March warned blockchain businesses that their offerings may have to be regulated. The Nova Scotia Securities Commission says each ICO has to be assessed individually to see if the thing being offered could be considered a security or a derivative. “There are no rules or regulations specifically addressing ICOs, however anyone developing an ICO must abide by the Nova Scotia Securities Act if their ICO is deemed to involve a security or derivative,” said NSSC spokesman David Harrison in an email. “Not all ICOs necessarily involve securities or derivatives and those that do not would not fall under the NSSC’s jurisdiction. Each ICO must be assessed based on its own merits to determine if it falls under the NS Securities Act.” He added there could also be complications if regulators decide that the trading of the tokens is something that falls under their jurisdiction. Jobs: HeyOrca, Audiobooks.com by Peter Moreira | Aug 08, 2017 The ever-growing HeyOrca team earlier this year. We have a couple of openings for developers – one in St. John’s, and one in Ontario – to headline the Jobs of the Week column today. St. John’s-based HeyOrca , which makes collaboration software for marketers, is looking for a Software QA Developer, and Burlington, Ont.-based Audiobooks.com , is seeking a Front-End Developer. HeyOrca, which announced a $2 million raise in May, has been gaining a lot of buzz lately because its monthly recurring revenue has been increasing rapidly. As of May, its customer base had increased 800 percent in the past year, adding 160 new businesses. The customers listed on its website include Saatchi & Saatchi, Microsoft Studios, Hilton Head Island and TheSocialDiner. Almost 15 years old, Audiobooks.com has been streaming audiobooks since 2011. The service offers tens of thousands of titles to its users, at a lower price than some competitors. It also has a history rolling out innovations in the audiobook market. The Jobs of the Week column features openings posted on the Entrevestor Job Board , which focuses on jobs in technology, innovation and startups in Atlantic Canada. The Entrevestor Job Board helps match job openings and candidates in the tech and start-up communities and is operated by Entrevestor and Alongside . Here are excerpts from the job postings: St. John’s Software QA Developer As a developer, you have probably worked on some contracts and projects at some point in your life: setting up a website, developing software, consulting. The success of the project relies on active communication between you, your team and the stakeholders of the project by defining goals, deliverables, collaborating on work and communicating the results. Marketing agencies work similarly: they help tens and hundreds of clients with their marketing strategy and content; all with different expectations, deadlines, and deliverables. HeyOrca is a web based tool to make sense of this chaos: bringing the marketing team and their clients together in one place to communicate, create and deliver. Think of it like GitHub for marketing agencies. . . . Front-End Developer If you're a skilled front-end developer looking for a company where you can have real impact and work with a small and passionate team, look no further. Audiobooks.com is looking for a front-end developer to bring our website up to speed with our awesome apps and mobile products. We're looking for someone who can make and keep our website looking good and functioning beautifully, while internally supporting other departments with new features and functions that will make our users cheer. We're an audiobook company on the outside but a tech company at our core, so expect a fast-paced and constantly shifting role. We're obsessed with experimenting and love trying new things. Got a great idea? Don't hold back. New projects and opportunities appear on a weekly basis-here, your job description is a launch pad, not a jail cell. Autonomy is a major part of our office culture, so we're looking for someone who works well in a team but doesn't need someone looking over their shoulder. . . NBIF Reviews Options on 500 Startups by Peter Moreira | Aug 04, 2017 Expressing disappointment at the closure of 500 Startups Canada, the New Brunswick Innovation Foundation i s now working with the fund manager to see what can be done about its investment in the fund. Earlier this year, NBIF said it would be a limited partner in the new fund , which was to be a Canadian offshoot of the Silicon Valley-based seed funding organization 500 Startups. However, the U.S. organization was engulfed in controversy this summer when several women said 500 Startups Founder Dave McClure had made inappropriate sexual advances on them. In the fallout, as first reported by Betakit, 500 Startups Canada announced that it would shut down and no longer raise funds. The fund will continue to manage its 38 investments. “We’ve advanced a portion of our committed capital to the Canada Fund, and we are now working with the Fund Manager to investigate the options available to NBIF,” said NBIF President and Chief Executive Calvin Milbury in an email. Though the innovation agency did not disclose how much it had committed to invest in 500 Startups Canada, Milbury said in a previous interview it was “nothing over the top.” Innovacorp Invested $5.6M in 2016-17 NBIF had hoped to use its relationship with 500 Startups not only to increase funding in the region but also to broaden its network across North America. “We were very disappointed to learn that the Canada fund was unable to reach an agreement to sever ties with the parent organization,” said Milbury on Thursday. “This is unfortunate as the Canada fund was playing an important role in seeding emerging, high growth companies across Canada. Seed equity is so critical for our startup ecosystem. It’s also frustrating as [500 Startups Canada Venture Partner] Sanjay Singhal has built a strong investment team who has already made many impressive investments.” Atlantic Canadian links with 500 Startups are stronger than those with other Silicon Valley accelerators. Fredericton-based WellTrack , which has developed online therapy for students with mental health issues, recently graduated from the 20th cohort of 500 Startups in Silicon Valley. And Halifax’s Swept , which makes software for janitorial customers, is now in the 21st cohort. In 2015, Moncton-based recruiting software maker Alongside went through the accelerator in 2015 and received funding from the parent organization. All these companies received US$150,000 for a six per cent stake in their business. Milbury added that NBIF is still open to backing VC funds when it makes strategic sense for NBIF and New Brunswick startups, though it is not considering any deals at the moment. He said: “We do believe in the model and consider it our role to connect with VC funds outside the region and expose them to our startup community here in N.B. and across the region.”  Ritchie Gears Up for Incubator Launch by Carol Moreira | Aug 04, 2017 Dale Ritchie: 'We want to be a catalyst.' With more people, especially millennials, seeking work that is both meaningful and useful to society, Dale Ritchie is launching a Moncton-based accelerator and fund that will boost opportunities for social entrepreneurs. Ritchie, President of the city’s McKenzie College , is behind the Community Accelerator and Hub Fund, due to launch in September. The accelerator will be based at McKenzie College, which focuses on Art, Design, IT, and English for Business and Academic purposes. “The accelerator for social entrepreneurs will be a post-graduate program, so instead of doing a master’s degree some students may choose to study entrepreneurship and education,” said Ritchie. “Students may go on to develop their own ideas, or they may meet someone on the program and combine talents and ideas, or they may become an intrapreneur and work with a large company on a project.” The Moncton initiative is the latest boost to social entrepreneurship in Atlantic Canada. It joins the B4Change program at the Pond-Deshpande Centre in Fredericton, the Impact Incubator at Common Good Solutions in Halifax, and various Enactus university-based programs. Ritchie said organizers are in talks with local corporations about their potential involvement in contributing to the Hub Fund and the mentorship of entrepreneurs. “We want to be a catalyst,” Ritchie said. “It’s a community project.” He said the idea was inspired by his own daughter, Jill, whose partner of ten years, Lucas, passed away after a battle with mental health and addiction issues. Jill and Lucas had started Lead With Your Heart, a project that provides creative therapies for people suffering from mental illness and addiction. Jill has continued the cause in memory of Lucas, who died aged just 29. SomaDetect Courts Vermont Farmers  It’s hoped the Hub Fund will eventually raise $1 million. Local investors will be able to obtain a 50 per cent tax credit under the New Brunswick Equity Tax Credit program. The fund will be professionally managed by an independent third party. Ritchie said there are many potential participants in the accelerator. They include students of the school’s English program. “One of our students has a PhD in philosophy from Russia, his wife is a computer programmer. They want to map the local ICT community. That project would help the economy develop and help immigrants when they get here.” People who want to form charities can apply to attend the accelerator, but are not eligible for funding as the fund can only invest in for-profit corporations. Ritchie said material for course programming is being sourced from places such as England’s School for Social Entrepreneurs, and U.S. schools, like Boston’s Hult International Business School. “The U.S. is further ahead than us on the education side of social entrepreneurship, but I think we Canadians are a bit further ahead on the thinking side,” he said. Ritchie’s own career has been inspired by his father, Oral, who owned Ritchie’s Clothing in Moncton. Ritchie and his twin brother, Neil, helped their dad with chores like sweeping floors. When his health declined, Oral sold the store and opened Rocklyn Trailer Park outside Moncton. Oral got the twins to work out things like the profit margin on a box of chocolate bars and how that would diminish if they ate the bars. “It was very practical experience. One day, Dad told me, ‘I’m going to show you how money grows on trees,’” Ritchie recalled. He didn’t know what his dad meant until they sold Christmas trees felled from their land, and Ritchie obtained $500 toward his university tuition. Ritchie went on to obtain a business degree from Saint Mary’s University in Halifax, where he also studied Computer Science and Finance. “Millennials don’t have a lot of practical skills,” he said, “but they have a real desire to start a business and it’s easier today in many ways, with the internet and the support.” The organizers are still recruiting mentors, advisors and investors. Contact info@mckenzie.edu. ADM Sold to Vinci Energies by Peter Moreira | Aug 04, 2017 ADM Systems Engineering, a Saint John electronics engineering company, has been purchased for an undisclosed price French industrial giant Vinci Energies. The French company, which has 65,000 employees in 51 counties, issued a statement Thursday saying it was purchasing ADM to strengthen its industrial services business. Vinci booked 10 billion euros in revenues last year. ADM will become part of Vinci’s Actemium brand, an industrial services business that has 300 units. “With this acquisition, Actemium will start offering solutions and services in industry in Canada, including its multinational customers,” said the statement. ADM began in 2002 and has grown into an operation with 40 people. Vinci said that last year the Moncton company reported revenue of 4 million euros, or about C$6 million. ADM has strengths in automation, data management, mechanical design and industrial energy management. One of ADM’s big achievements was giving birth to the Industrial Internet of Things company RtTech, which specialize in automated systems that help industrial complexes reduce energy consumption. RtTech in 2015 raised $3 million in venture capital funding from McRock Capital and the New Brunswick Innovation Foundation. ADM partners Arnold Nicholson, Jim Gillis, Brent Donovan, Keith Flynn and James Boone said in a statement: "While we will continue to offer our services as Atlantic Canada’s largest systems integrator, this transition represents a significant step towards our vision of international growth by means of proven solutions that improve clients’ operational performance.” Squiggle Park Downloads Jump 5600% by Peter Moreira | Aug 03, 2017 Halifax-based edtech company Squiggle Park is starting August off the right way, pondering how to build on its app’s 5000-percent-plus jump in downloads in iTunes last month. The company, whose online games help children to learn to read, received the news last week that Apple had selected it late in July to appear in the section titled “New Apps We Love” for iTunes Canada - which is the top section displayed in the store. As a result for the month of July, there were 965 downloads of the Squiggle Park app – up 5,576 percent from the previous month. Impressions were even stronger, jumping 2.7 million percent to 3.2 million. Almost all the increase came in the last five days of the month, after it appeared in the highlighted section. Co-Founder and Chief Marketing Officer Julia Rivard Dexter said in an interview today that she was taken aback Wednesday when she received the latest analytics. “When I got those metrics, it took a moment to figure out whether these are real,” she said. “I studied them and realized they were real. Then I spent the rest of the day asking what this means. How do we recreate this success?” Squiggle Park, which recently went through the Fierce Founder Accelerator at Communitech in Kitchener, Ont., has been on a bit of a roll lately. The company’s online games are now used in 3,000 schools, concentrated in North America but including such markets as Oman and China. And it recently received approval from the Build in Canada Innovation Program, which will provide $500,000 to an educational body that adopts the technology. Norex Rebrands as Code + Mortar In May, Squiggle Park struck a partnership with the Indigo Love of Reading Foundation , which places the company’s edtech product in some of the most disadvantaged schools in Canada. Following that, Indigo/Chapters CEO Heather Reisman invested in Squiggle Park, joining such backers as members of East Valley Ventures . “Having the largest powerhouse on the scene in Canada, in terms of literacy, is really something and we’re very proud of that,” said Rivard Dexter. Rivard said being highlighted in iTunes has created a new opportunity for the company, and now she and her teammates are trying to figure out how to build on it. The entry into the “New Apps We Love” section only covered iTunes Canada, so there is always the possibility of getting similar play in the U.S., which could create even more of a bang. What’s more, the downloads come from parents. Most of the company’s traction to date has been with educators. Nnow the company has more inroads in the parent market – a far larger group of potential customers, but one that requires broader marketing than reaching out to schools and teachers. The Squiggle Park app is now free, and the company plans to introduce a paid app in the autumn. The recent wave of downloads gives the company a base to which it can market the paid app. Said Rivard Dexter: “The goal now would be to really understand how this happened so we can re-create this type of success in the future and sustain it.” Air Realty Helps With Mere Listings by Peter Moreira | Aug 02, 2017 | 1 A new Nova Scotia real estate brokerage has launched an online service that allows homeowners to list their homes themselves on the Multi Listing Service. Air Realty is the brainchild of Joshua Svec, an entrepreneur in Cow Bay. In founding Air Realty, he is hoping to change the way Nova Scotians list their property on the MLS, the standard site for listing properties for sale. Svec said that homeowners can access the MLS themselves through a little-known process called “mere listing” and Air Realty lets them take advantage of the mere listing rules. He said that by listing the properties themselves, homeowners can save on their listing fees. They pay a flat fee for the listing commission, though they would still have to pay a commission (usually about 2.5 percent) to the agent selling the house. “Many homeowners do not know that mere listings are an option to them when selling their house,” said Svec. “Air Realty is looking to solve that problem by offering the homeowner all the tools and resources they need to list their property online, themselves, using any device. There is currently no other brokerage offering this type of service in Nova Scotia.” TruLeaf Launches Across the Maritimes This will allow the homeowner to potentially save thousands because they will pay no commission for the listing fee, they will just need to pay a small flat fee for listing and pay the buyer’s agent (typically 2.5% of purchase price). He said the homeowner can list his or her home within 24 hours through a three-stage process: First, the homeowner fills out the interactive forms online. Second, they submit the listing forms to the brokerage for review. Third, they electronically sign the listing documents. The brokerage now includes just Svec and his partner Steve Ritchie but he hopes to add agents across the province. Svec said in an interview that he is now in talks with a brokerage in Ontario to work with in launching the service in that province and then to add provinces across the country. TruLeaf Launches Across Maritimes by Peter Moreira | Aug 01, 2017 TruLeaf Sustainable Agriculture , the agtech company planning a chain of indoor farms across the country, announced Monday its locally grown microgreen products are now available in select Atlantic Superstores across the Maritimes. Appearing under the company’s GoodLeaf Farms brand, these products grown in the company’s farm in Bible Hill are now available in a dozen Superstores spanning the three Maritime provinces. According to the TruLeaf website , the products include broccoli shoots,  kale shoots, daikon radish shoots, pea shoots, baby arugula and baby kale. TruLeaf is seeking to become a leader in sustainable agriculture through the use of vertical farming – which combines proven hydroponic technology with advancements in LED lighting and reclaimed rainwater to allow year-round production of plants indoors. Vertical farming is nearly 10 times more efficient than traditional agriculture, uses as much as 90 percent less water, and takes up less land. TruLeaf, which closed an $8.5 million financing round last December , has been working with Loblaw Companies, the parent company of Atlantic Superstores, on the development of its farms. “We know our customers are looking for exceptional produce, grown locally wherever possible, which is why we are such huge supporters of local and regional suppliers,” said Loblaw Director of Corporate Affairs Mark Boudreau said in a statement. “Having fresh local vegetables year round in the Maritimes would have been impossible a decade ago. We’re excited about today’s launch, and proud of our role working with TruLeaf over the past few years to bring this innovative farming technology to our Atlantic Superstore customers.” SomaDetect Courts Vermont Farmers The announcement comes as TruLeaf begins construction on its 50,000-square-foot facility in Guelph, Ont., which will produce vegetables for the Toronto market. The company said last year that its $8.5 million funding round would be used to build a plant and access the massive Toronto market. The round was led by Mike Durland, the former CEO of Scotiabank’s global banking and markets division, and included funding from Neil Murdoch, former CEO of Connor, Clark & Lunn Capital Markets. TruLeaf said GoodLeaf Farms has been embraced by local wholesalers and restaurants and now the brand is available across the Maritimes in select stores. “We are thrilled to be bringing a new era of freshness to Atlantic Canadian consumers,” said TruLeaf CEO Gregg Curwin. “We grow our produce in tightly controlled environments to the very highest standards in the industry. It’s a difference you can truly taste – our products are bursting with flavour and nutrition. And by dramatically reducing the time and energy needed to grow produce, it really is a new way to eat responsibly.” We Should Follow Trump’s Lead by Peter Moreira | Aug 01, 2017 | 1 Donald Trump: Setting a target of 3 percent growth. Now that I have your attention, let me explain what we mean by the headline. The Trump Administration (or what’s left of it) has set a target of three per cent annual economic growth each year of his presidency. I doubt he has an ice cube’s hope in hell of making it but I like the fact that his administration has announced the target as part of its budget. Atlantic Canadian governments should follow this lead and announce GDP growth targets. (For the record, I’m not a fan of the president. Nowhere near it. Naming a growth target is one move that impressed me. If asked for a second I wouldn’t be able to do it.) Atlantic Canada’s economic growth has been dreadful and setting a target in itself might be the first step to addressing the issue. Here’s the story on our GDP: RBC estimates Canada’s GDP will increase 2.6 per cent in 2017. In May, it was growing at an annualized rate of 3.5 per cent. But Atlantic Canada is expected once again to underperform. RBC expects growth rates of 1.5 per cent in New Brunswick, 1.1 per cent in P.E.I. and 0.8 per cent in Nova Scotia. Newfoundland and Labrador’s GDP is expected to shrink 2.2 percent. It’s part of a tradition of lagging — mainly in the Maritimes — that has plagued our region for at least a generation. What Atlantic Canada needs is for provinces to identify a target for GDP growth. Two per cent would seem reasonable. Maybe the target should be to exceed the national figure — though that would be difficult if Alberta and Saskatchewan rebound this year. Innovacorp Invested $5.6M in 2016-17 It’s a difficult argument to make in these parts as too many complain that strong GDP growth can reward the rich and leave everyone else poorer. Well, it can. So add on an accompanying target for growth in median after-tax income. Problem solved. There’s also the argument that GDP growth can represent industrial growth that causes problems that cost money to fix later, like over-fishing or petroleum industries. There are industrial, environmental and resource regulations that can balance the economic, social and environmental needs. Setting a target for GDP growth establishes what’s acceptable and unacceptable in economic performance. And it will highlight the need for more and larger high-growth companies in the region, which have the potential to drive economic growth. Atlantic Canada is making progress on this front but we have a long way to go. When the Ottawa consultancy Branham recently published its list of the 250 top tech companies in Canada, there’s wasn’t a single Atlantic Canada company in the top 100. The highest-ranking East Coast company was Saint John-based Mariner at No. 128. We’re not at a point yet where the tech companies and other high-growth companies have a great enough impact to increase GDP meaningfully. There’s a foundation of these companies but they are still growing. Entrevestor estimates that there are more than 70 companies that have 10 or more employees and have been growing revenues at 20 per cent annually. Some of these companies will be bought, some will sink and a few will continue growing to eventually produce meaningful growth. First let’s decide what acceptable growth is. I’d say it’s two per cent per annum. Innovacorp Invested $5.6M in 2016-17 by Peter Moreira | Jul 30, 2017 Innovacorp , the venture capital and innovation agency owned by the Nova Scotia government, sank $5.6 million into startups in its 2016-17 fiscal year, continuing at the same pace as the previous three years. The agency released the numbers last week in its annual accountability report , which outlines its finances and investments in the 12 months that ended March 31. Last year at this time, Innovacorp was warning that it might have to fund its investments in the future from exits as its Nova Scotia First Fund was running out of money . But the province in October freed up $40 million to refinance the fund, ensuring several more years of investment. And the Crown corporation said Nova Scotia still has a way to go to reach the national average in terms of investment in innovation. “Although per capita venture capital in Nova Scotia has surged from $19 to $54 to $67 over the past three years (adjusted for population growth), the Canadian average has demonstrated parallel growth from $53 to $64 to $88,” said the report. “This leaves a gap of $21 per capita, or 24 percent, between the Nova Scotian and Canadian averages.” Last year, Innovacorp said it had averaged $5.6 million per year in venture capital investment over the previous three years. It maintained the level in 2016-17, as it made 13 investments in 12 companies. Some $4.7 million of this money, or 84 percent, was follow-on investment in companies already in its portfolio. Two of the companies receiving money were new to the portfolio. Neck Tronics Plans Launch This Year The two largest investments were to materials company Metamaterial Technologies  with $1.5 million, and life sciences company ABK Biomedical , which received $1.1 million. “Innovacorp said the 13 investments also attracted an additional $18.3 million in venture capital and private equity investment, most of it from outside Nova Scotia,” said the report. “Innovacorp’s other portfolio companies raised a further $18.6 million through deals in which Innovacorp did not participate.” Innovacorp said that $175,000 in advances in the last fiscal year include second tranches paid to Island Water and Vendeve in previously approved deals. The biggest surprise from the document is that it revealed the price of the Analyze Re exit. The company received US$9.5 million ($13 million) when it sold out to Jersey City, N.J.-based data analytics company Verisk Analytics in October . In total, the Nova Scotia First Fund received about $2.54 million from exits, secondary share sales, dividends and interest. The following are the Innovacorp investments for 2016-17: Information Technology Island Water  $150,000 Innovacorp said tha as of March 31, 2017, the NS First Fund had a carrying value of $31.4 million, including its investments in venture capital funds Build Ventures and Cycle Capital Funds I & III. The fund had $10.5 million in commitments, and $66 million available for new and follow-on investments in promising Nova Scotia start-ups (including $25 million for a new technology seed capital investment fund). Innvoacorp is overseeing the backing of a new fund to be located in Halifax, which would invest mainly in Atlantic Canadian companies. The selection committee has been reviewing a handful of companies, and is expected to make an announcement within a few months. Innovacorp is now conducting a search for a new CEO as the current holder of that position, Stephen Duff, has told the board he will not seek a second five-year term. Disclaimer: Innovacorp is a client of Entrevestor. Job of the Week: Code + Mortar by Peter Moreira | Jul 30, 2017 Weeks after its relaunch, Code + Mortar of Halifax is building up its development team and looking for a senior developer. Code + Mortar headlines the Job of the Week column this week, having been in the news in June when it changed its name from Norex. Code + Mortar aims to work with clients on innovation, helping them conceive new products, build them, and take them to market. One interesting quirk about the company is that it is actively targeting startups as clients, not just large-enterprise clients. The Jobs of the Week column features openings posted on the Entrevestor Jo

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