Is Nova Scotia pushing towards an innovation-driven system? Signs are emerging, encouragement to seek international markets, more sandboxes for entrepreneurs, and the new $50 million dollar fund for small to medium sized businesses in Nova Scotia and more diversity!
There are world famous eco systems for startups like China. The central government predicts the surge of money to support private entrepreneurs will generate new growth. The government’s investment in young companies is part of a larger push to reduce the country’s reliance on fixed-asset investment and develop an innovation-driven economy.
In 2013, according to Fortune Magazine, venture capitalist invested $33bn in US – more than 4 times the amount invested in entire European Union. Then, there’s Silicon Valley, $8.67bn in 2013 compared with just $1.44bn in Europe. Creating, and nurturing entrepreneurs through eco systems for startups in Nova Scotia helps push to innovation driven systems.
Then, there is diversity. There are numerous reports, and research that identify enhanced innovation and creativity as benefits that flow from a more diverse workforce. Diverse employees, entrepreneurs, leaders bring fresh perspectives and different types of views. Many countries support diversity and innovation – resulting in well managed diverse teams – that are more productive, creative and more effective than teams that are alike.
In Canada, there are reports of a wealth of skilled and talented people not engaged in the workforce from the immigrant workforce, Canadian born visible minorities, youth, mature workers, persons with disabilities and Aboriginal Peoples. Engaging diversity in Canada’s labour force and recruiting immigration are solutions for recruitment challenges and skills shortages.
Where the Nova Scotia Economy Is Moving the Fastest:
Innovation, Diversity, & Domination
It seems like OneNS is right on the money giving entrepreneurs and others opportunities to innovate and diversity.
The 9 areas of support for startups, and diversity in Nova Scotia are the following:
- Innovation – If you own a small to medium sized business in Nova Scotia there is a new $50-million private equity fund
- Innovation – If you need assistance and are a small to medium sized business owner there are more sandboxes for you. There are more places where you can experiment with new ideas and access mentors, investors and help you hone your skills.
- If you are looking to incubate your startup, there are several sectors working together to expand your startup.
- There are groups working together (students, business networks and community groups) discussing issues – ideas leading to action.
- If you are a startup or student startup, university presidents are working to improve role of institutions as incubators for innovation and entrepreneurship.
- Assistance to expand your startup to Asia.
- Innovation in tidal power or forestry sought for Nova Scotia.
- Partnerships and programs helping youth and newcomers transition in workplaces and feel more included.
- Diversity is one of the private sectors’ national goals.
Year 2015 marks many changes in Nova Scotia. Innovate, Dominate & be Diverse #NovaScotia
The oneNS Coalition builds on the earlier oneNS Commission.