A local company in the marine sector just received a massive investment from the provincial government.
Nova Scotia is giving $8.5 million to the Centre for Ocean Ventures and Entrepreneurship (COVE). The funding will be used to help increase COVE’s capacity for development.
Their CEO, Melanie Nadeau says it shows how much the government believes in their ability to grow the economy.
“It’s a demonstration that the province believes in the ocean sector for Nova Scotia, and as a growth sector… It’s also a vote of confidence in the capacity of our team and what we’ve built in a very short period of time,” said Nadeau.
COVE was launched in 2018 and has since grown to have more than 65 local and global marine technology businesses at their facility. That includes start-ups, researchers, and services businesses that support the marine sector.
Minister of Economic Development Susan Corkum-Greek made the announcement today at COVE’s facility on the Dartmouth waterfront. She said that the world is starting to recognize Nova Scotia’s potential and by investing in COVE the government is doing what it can to leverage this potential.
“We know that as government, we have a number of sectors that are standouts for opportunity and marine tech, ocean tech, blue economy is one of them,” said Corkum-Greek.
