Dartmouth’s Spring Loaded Technology gets nearly $2.5M in ACOA funding

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Dartmouth’s Spring Loaded Technology gets ACOA funding
WATCH ABOVE: A Dartmouth company is celebrating a recent investment of nearly $2.5 million investment from the federal government. On Friday, the company showed off its new knee brace, something it calls a world's first. Global's Steve Silva explains – Jun 9, 2017

A Dartmouth company is getting $2.45 million from the Atlantic Canada Opportunities Agency (ACOA).

Spring Loaded Technology, which started in 2013, creates medical devices.

“The investment from ACAO will help us build a human-factors testing lab to accelerate our research and development process to test our product,” said Chris Cowper-Smith, the company’s CEO, at an event for the announcement.

READ MORE: Bionic knee braces created by Halifax company being tested by military

The company also announced the launch of what it calls the world’s first compact bionic knee brace.

It is “capable of loading energy as the user bends their knees and releasing that upon extension to help get them back on their feet and back to everyday life,” Cowper-Smith said.

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Dartmouth-Cole Harbour Liberal MP Darren Fisher called the product “innovative” and “incredible.”

Kelsey Grover-Murray, who has muscular dystrophy, has been already been using the brace and was featured in a promotional video for the product.

She said the brace helped her feel less tired and made her able to climb stairs easier.

READ MORE: Halifax entrepreneurs win $100,000 prize for knee brace technology

“I had very low confidence walking around in public because I was scared I was going to fall and stuff like that but, since I’ve had the braces, I haven’t fallen since, so the biggest thing the braces have done for me is giving me my confidence back,” Grover-Murray said.

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The federal government partnered with the company during the start-up phase.

“Repayment of the contribution made to Spring Loaded Technology Inc. will be based on the project achieving certain success factors or milestones, as per the contribution agreement signed by the Agency and the company,” Alex Smith, the director of communications and outreach for ACOA, said in a statement.

What those “certain success factors or milestones” entail are not being made public.

According to ACOA, the project will result in eight news jobs.

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