Ocean technology facility on Halifax harbour gets $4.5 million investment

“Where we stand today will soon become one of the world’s most innovative ocean technology incubators.”

In September, Ottawa committed about $7 million and the province about $12.5 million towards the project, referred to by the acronym COVE, which will include about 1,500 square metres of office space, 930 square metres of incubation space and about 1,500 square metres of shop and lab spaces.

Jim Hanlon, chief executive of the Institute for Ocean Research Enterprise, said the centre will foster ocean technology start-ups and help existing ones grow, serving as a centre for local and global ocean technology companies, post-secondary institutions and researchers.

Hanlon said Halifax is already well positioned to attract leaders in ocean technology to the city, and some already call the region home.

“Generally speaking, we have the largest brain trust around oceans in the country and probably one of the most significant in the world. We need to realize that together we are a very powerful force in the ocean,” said Hanlon, noting federal facilities like the Bedford Institute of Oceanography already are centres for scientific research.

He said COVE will be shared with small, medium and large private sector businesses in a variety of fields, including ocean software, electronics and biotechnology.

Hanlon said when the facility opens next year, he expects it to be fully occupied.

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Aly Thomson, The Canadian Press

by Canadian Press

Ocean technology facility on Halifax harbour gets $4.5 million investment

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