Atlantic Canada — made up of the eastern provinces of New Brunswick, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island — continues to demonstrate that it is a fast-growing and successful ecosystem, boasting innovation in Oceantech and several other sectors. The region is producing globally leading companies such as CarbonCure Technologies, a Carbon Xprize winner that has been touted by its investor Bill Gates on CBS’s 60 Minutes. SaaS platform Introhive has raised over $125 million and was listed in the Deloitte Technology Fast 500 ranking for three consecutive years.

The ecosystem is home to 16 universities and many support programs that provide startups with a wealth of resources to support their growth. More than 80% of graduates from Innovacorp’s acceleration program have secured early-stage equity investment. PEI BioAlliance is adding a bioscience manufacturing incubator to the resources it offers its flourishing bioscience cluster. Industrial biotech companies are coming from around the world to join the AscendBio scale up program. CDL Oceans is a global ocean technology accelerator. A company from its most recent cohort, Planetary Technologies, won a $1 million Xprize Carbon Removal Milestone Award in April 2022.

Female-focused seed-stage fund Sandpiper Ventures is the newest venture capital fund based in Atlantic Canada. It closed the first CA$10 million ($8 million) of a planned CA$20 million ($16 million) funding round for its flagship SV Fund in September 2021.