Premier Stephen McNeil announced on Tuesday that Nova Scotia is set to invest $2.25 million in Halifax’s Volta Labs over the next three years.
The investment will see the technology hub expand its space in the Maritime Centre from 20,000 to 60,000 square feet and the inclusion of an event space on the Barrington Street level.
“This funding will give more entrepreneurs in Nova Scotia the support they need to start great companies,” said McNeil in a press release.
“It will also help our vibrant startup community continue to grow. Ultimately, that means more jobs and opportunity for young Nova Scotians.”
Jesse Rodgers, CEO of Volta Labs, agreed with McNeil that the funds will help support entrepreneurs in the province.
“As Volta expands and our startup community grows, we will continue to be the place where high-potential founders come together, learn from each other, and build globally competitive companies,” said Rodgers in a press release.
According to a press release, the non-profit currently employs more than 290 full-time staff and has reportedly had more than 50 early-stage companies work out of their organization since it was established in 2013.
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The funding announcement comes only months after the non-profit received $2 million in government cash to expand the city’s tech footprint.
Volta Labs received $1.5 million Tuesday from the Atlantic Canada Opportunities Agency and $500,000 from the Nova Scotia government’s Innovacorp.