TechSocial, a monthly gathering in Pictou County for people with a passion for technology and business, is hosting a local launch of Innovacorp’s latest I-3 Technology Start-Up Competition. The event will happen at 7:30 p.m., Oct. 1, at The Crow’s Nest Pub in New Glasgow.
Innovacorp’s president and CEO, Stephen Duff, will give an overview of the I-3 competition, and Jim Proudfoot from Water Drills International will share his experiences as a winner in the last competition.
The I-3 competition takes place every two years in five geographic zones across the province. In the 2011-2012 competition, Pictou County took home both first and second place prizes for Zone 1, which includes Cumberland, Colchester, Pictou, Antigonish and Guysborough counties.
Jim Fitt, founder and president of local technology company Velsoft, organized Tuesday’s TechSocial to promote local start-up and innovation activity as well as encourage I-3 submissions from the area.
Each zone winner is awarded $100,000 in cash and in-kind business building services, with the second place zone winners taking home $40,000 in cash and services. New this year are cash awards for the best overall submission in each of the following sectors: information and communications technology, life sciences, clean technology, and oceans technology.
An overall provincial winner, selected from the five zone winners, will receive an additional award of $100,000 in seed investment from Innovacorp.