What is it?

I-3:  “Idea, Innovation, Implementation”

The purpose of Innovacorp’s I-3 Technology Start-Up Competition is to find and support high potential early stage Nova Scotia knowledge-based companies, and encourage entrepreneurial activity across the province. The businesses chosen as first and second award winners from across the province are excellent examples of types of companies that will fuel our future economic growth.

To download the full I-3 information kit, click here.

How do I enter?
It’s easy. Simply submit a 3 – 5 page summary of your venture by October 20, 2011.

Click here to see a summary template.

Click here to submit now!

Am I eligible?

Entrants must be a Nova Scotia-based start-up business venture with a focus on a new knowledge-based product and/or service.

In addition, entrants must be the majority owner (51 per cent or more) of the business venture and plan to work full-time within the business to be located in their competition zone.

Innovacorp investee clients are not eligible for this competition. I-3 zone winners from previous years are not eligible to reapply with the same product/service from the winning submission, but may reapply with a different product/service and a different company.
What can I win? 1st Place Zone Winner: $100,000 award package
2nd Place Zone Winner: $40,000 award package
Overall Provincial Winner: $100,000 seed investment from Innovacorp

The zones

Zone 1: Cumberland, Colchester, Pictou, Antigonish, Guysborough
Zone 2: Lunenburg, Queens, Shelburne, Yarmouth
Zone 3: Digby, Annapolis, Kings, Hants
Zone 4: Halifax Regional Municipality
Zone 5: Victoria, Cape Breton, Inverness, Richmond
Judging criteria

Each zone will have a six-person judging panel that consists of a seasoned entrepreneur, a seasoned business person, a lawyer, a chartered accountant, and two senior representatives from Innovacorp. The judging panel to select the provincial I-3 winner will include a representative from the original panel in each of the five zones. The panels will assess submissions based on a pre-determined set of criteria.

Submissions will be evaluated based on: business plan credibility, management experience, a high barrier to competitive entry, a large addressable market, and the probability of obtaining a fully-funded business plan. Ultimately, the winning entrants are those determined by the judges to have the highest probability of entering the market in a competitively sustainable fashion and the most commercialization potential.

Important competition dates

Click here to see a list of I-3 competition partners.

Confidentiality

All submissions will be treated confidentially and will not be made available to the public. Only those directly involved in managing or judging the competition will view submitted documents. While business plan details will not be disclosed, the competition organizers reserve the right to publicly announce those who advance to subsequent competition rounds.
If you have any questions or require more information about the I-3 Technology Start-Up Competition contact:

Shelley Hessian
Innovacorp
902.424.8670
ext. 1123
1.800.565.7051

shessian@innovacorp.ca